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CBDC First-Time Entrepreneur Loan

by Maurice | February 5, 2023

Amount:

$150,000.00

Type of Program:

Investment, Loan, Loan Guarantee


Description:

The CBDC First-Time Entrepreneur Loan provides financing of up to $150,000 to new entrepreneurs who live in a rural community in Atlantic Canada. 

Comments on Funding:

Funding is up to $150,000 per eligible borrower.
The loans are repayable and have competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantees, or equity investments.


When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant:

  • must be a new, first-time entrepreneur living in a rural area of Atlantic Canada
  • must be a sole proprietor, a limited company or partnership (majority control must reside with the new entrepreneur),
  • may be a seasonal and year-round business,
  • may use the loan for a business start-up, or to help buy an existing business, or for a variety of purposes: Startup costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or other types of equipment, and possibly vehicles used strictly for business operations. Franchise purchases and Leasehold improvements are also eligible.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Business Startup & New Entrepreneur Loans in NB, NL, NS & PEI

Related posts:

Aquaculture Capital Equity Program (ACEP)
Business Investment Fund – Business Investment Program
Fisheries Loan Guarantee Program
Investment Attraction Fund

About Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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