Repayable Loans for Working Capital
No fixed amount
Loan
Description:
Short-term financial assistance for exporting businesses facing disruptions to ongoing operations due to tariffs (e.g., revenue loss, increased costs, and supply chain disruptions).
Comments on Funding:
Repayable support for businesses. All lending decisions will be subject to due diligence by the ONB team.
Continuous Intake
Eligibility:
Applicants must:
1. Be exporting businesses in sectors directly impacted by tariffs.
2. Be able to demonstrate the impact of tariffs on their operations and have an action plan to mitigate those impacts.
3. Have exposure to the U.S.: Minimum of 25% of sales to the U.S. or 25% of raw materials subject to counter tariffs.
4. Have positive cash flow
5. demonstrate profitability prior to tariff impacts.
6. Have government Remittances: The company must be current on property taxes & CRA remittances.
Application Steps:
Applicants must reach out to to their regular contacts at ONB, the Department of Agriculture, Aquaculture and Fisheries (DAAF), and Natural Resources and Energy Development (NRED).
Businesses that do not have an existing contact can connect with a Business Navigator for guidance.
Business Navigators Service:
Phone: 1-833-799-7966
Email: nav@navnb.ca
Documentation Needed:
No specific documentation has been identified
Other Things to Note:
About the author
Maurice
