CBDC Youth Loan

By mmuise
Description:

The CBDC Youth Loan Program provides financial assistance to young entrepreneurs aged 18-34 for business startup, expansion or modernization in rural Atlantic Canada.


Comments on Funding:

Funding is available in the form of a repayable loan with competitive interest rates and repayment terms. Financial options may include: demand and term loans, equity investments or loan guarantees.

Deadline: Continuous Intake
Eligibility:

Applicants:

  • must be youth borrowers aged 18-34 and living in rural Atlantic Canada,
  • may use the loan for business startup, modernization or expansion,
  • must be seasonal or year-round businesses,
  • may take the loan for a variety of business expenses: start-up costs, fixed assets and/or working capital, acquiring assets of a previous business, leasehold improvements and franchise purchases,
  • may be sole proprietorships, limited companies partnerships (majority of the care and control must reside with the new entrepreneur),
  • should have a reasonable expectation of economic viability, as well as employment creation and/or maintenance in their community and the intended business operations must not have a negative impact on existing area businesses.
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