CBDC General Business Loan

By mmuise
Description:

The CBDC General Business Loan provides financing to businesses in rural Atlantic Canada for a wide range of expenses including: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture.


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. The loans are secured, and can be from one to ten years.

Deadline: Continuous Intake
Eligibility:

Applicants:

  • must be entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada,
  • must be expanding an existing business,
  • must be an existing company in need of working capital,
  • must be year-round or seasonal businesses,
  • may use the loan for: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. In some cases, vehicles strictly for business uses may also qualify. Franchise purchases and Leasehold improvements are also eligible.
  • must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessity.
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