Loan Guarantee

By mmuise
Description:

CBDC NORTIP offers financial assistance to organizations wanting to start or expand a small business.


Comments on Funding:

Funding takes the form of loan guarantees, with the following criteria:
- The Corporation will only guarantee a chartered bank's authorized line of credit, or overdraft protection to the approved limit established by the Board of Directors.
- The loan guarantee will be made only for a specific period of time, usually one to five years.
- The Corporation will charge an administration fee of 5% per year for the guarantee.

Deadline: -
Eligibility:

Applicants must be:

  • organizations wanting to start or expand a small business;
  • in the Northern Peninsula.
Application Steps:

Applicants must contact CBDC NORTIP through their online contact form.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

CBDC NORTIP is one of 41 Community Business Development Corporations (CBDCs) operating in rural Atlantic Canada. The CBDCs are a network of not-for-profit organizations that work in co-operation with all levels of government and the private sector to meet the needs of small business

About the author
mmuise