Yukon Venture Loan Guarantee Program
$100,000
Loan Guarantee
Description:
The Yukon Venture Loan Guarantee Program is a partnership between the Government of Yukon and participating financial institutions. This program encourages commercial lenders to invest in local businesses by guaranteeing a portion of the loan.
Comments on Funding:
1. Minimum guarantee: $10,000
2. Maximum guarantee: $100,000
3. Guarantee level is 65% of a venture loan, principal only, and based on the net loss of the venture loan. For example, a loan guarantee for $65,000 would support a $100,000 loan.
4. There is a one-time fee of 1.5% of the guarantee amount, payable when the guarantee is issued.
Continuous Intake
Eligibility:
Applicants must be:
1. New business start-ups; or
2. Expansions of businesses in Yukon that have less than $5 million in gross revenue and less than 100 employees.
3. Eligible businesses must be registered in Yukon and pay Yukon corporate taxes.
Application Steps:
Applicants must:
1. Find out if your project qualifies. Email ecdev@yukon.ca or phone 867-456-3803.
2. Visit a participating financial institution for more information and to apply.
3. Submit your application to the financial institution.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
