Term Loan

Amount:

$25,000.00

Type of Program:

Loan

Description:

The Term Loan provides up to ,000 in financial assistance to new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland. Loans can be used for capital equipment acquisition, working capital, or short-term receivable financing.

Comments on Funding:

Funding is up to $25,000.
The interest rate is based on risk assessment, repayment terms vary and there is a $100 administration fee. The first year is interest-free

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland.
be a registered proprietorship, partnership or limited company,
have a viable business plan, with two year cash flow projections, the ability to repay the loan and a suitable management strategy,

Application Steps:

Applicants must contact BBI for further details.

Documentation Needed:

No specific documentation has been identified

Other Things to Note:

No other details available.

Program Contact:

Financial Assistance: Black Business Initiative

Indigenous Business Grants in Atlantic Canada (2023): Current List of Programs

Atlantic Canada Export Grants: Grow Into New Markets With These 12 Grants

Business Grants for Women in Atlantic Canada (2023): List of Programs

Black Business Grants in Atlantic Canada (2023): Complete List of Programs