After the Loan Application closing date, the assessment panel will meet and review each loan application. This process takes approximately 2 months depending on the number of applications received.
There are at least 10 loans available each year. Shortlisted applicants are contacted to verify the amount of funding requested and references are checked. Successful applicants are then notified and are required to complete a Loan Agreement.
Once the Loan Agreement is signed, individual loan accounts are created and the successful applicant works with a client manager for the duration of the loan. Client Managers provide ongoing support and act as an objective and committed sounding board to guide participants along the way and hold them accountable to agreed tasks and milestones.
Unsuccessful applicants are informed in writing and are invited to utilise the other business support services provided by Lighthouse and the ACT Government.
