CBDC First-Time Entrepreneur Loan

By mmuise
Description:

The CBDC First-Time Entrepreneur Loan provides financing of up to $150,000 to new entrepreneurs who live in a rural community in Atlantic Canada.


Comments on Funding:

Funding is up to $150,000 per eligible borrower.
The loans are repayable and have competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantees, or equity investments.

Deadline: Continuous Intake
Eligibility:

The applicant:

  • must be a new, first-time entrepreneur living in a rural area of Atlantic Canada,
  • must be a sole proprietor, a limited company or partnership (majority control must reside with the new entrepreneur),
  • may be a seasonal and year-round business,
  • may use the loan for a business start-up, or to help buy an existing business, or for a variety of purposes: Startup costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or other types of equipment, and possibly vehicles used strictly for business operations. Franchise purchases and Leasehold improvements are also eligible.
Application Steps:

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

About the author
mmuise