Term Loan

By mmuise
Description:

The Term Loan provides up to $25,000 in financial assistance to new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland. Loans can be used for capital equipment acquisition, working capital, or short-term receivable financing.


Comments on Funding:

Funding is up to $25,000.
The interest rate is based on risk assessment, repayment terms vary and there is a $100 administration fee. The first year is interest-free.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland.
  • be a registered proprietorship, partnership or limited company,
  • have a viable business plan, with two year cash flow projections, the ability to repay the loan and a suitable management strategy.
Application Steps:

Applicants must contact BBI for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

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About the author
mmuise