Micro Loan

By mmuise
Description:

The Micro Loan is up to $10,000 and can be used for eligible business activity, including start-up, expansion or purchase of an existing business with a base of operations in Queens County or Lunenburg County, Nova Scotia.


Comments on Funding:

Funding is up to $10,000. Loan is in the form of a repayable, personal loan with a flexible interest rate and flexible repayment terms. Interest rate currently: Starting at bank Prime plus 3% and can raise or lower (dependent upon risk assessment) for new and existing businesses.
No application fee.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be a sole proprietorship, a partnership , or a limited company,
  • be a startup or an existing business with year-round or seasonal business activity,
  • have strong personal credit,
  • have its base of operations in Queens County or Lunenburg County, Nova Scotia.
Application Steps:

1. Applicants are encouraged to make an appointment to discuss their business idea early in the planning stage to take advantage of the counselling and technical services that are also available at NO FEE for service.

2. Applications can be made through one of CBDC's Business Officers by emailing sso@cbdc or telephone 902-354-2616.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

For more information on the MICRO loan, applicants should email sso@cbdc.ca, or call South Shore Opportunities cbdc at 354-2616

About the author
mmuise