CBDC Youth Loan

Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The CBDC Youth Loan Program provides financial assistance to young entrepreneurs aged 18-34 for business startup, expansion or modernization in rural Atlantic Canada.

Comments on Funding:

Funding is available in the form of a repayable loan with competitive interest rates and repayment terms. Financial options may include: demand and term loans, equity investments or loan guarantees.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants:

must be youth borrowers aged 18-34 and living in rural Atlantic Canada,
may use the loan for business startup, modernization or expansion,
must be seasonal or year-round businesses,
may take the loan for a variety of business expenses: start-up costs, fixed assets and/or working capital, acquiring assets of a previous business, leasehold improvements and franchise purchases,
may be sole proprietorships, limited companies partnerships (majority of the care and control must reside with the new entrepreneur),
should have a reasonable expectation of economic viability, as well as employment creation and/or maintenance in their community and the intended business operations must not have a negative impact on existing area businesses.