• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Atlantic Canada Business Grants

  • Atlantic
    • Accelerators
    • Entrepreneurship Programs
    • Competitions
    • Equity Investment Programs
    • Grants
      • Black Business Grants
      • Export Grants
      • Indigenous Business Grants
      • Women Business Grants
    • Loans
    • Wage Subsidies
    • Funding Organizations
      • ACOA
      • CBDC
  • New Brunswick
    • New Brunswick Small Business Guide
      • Major Industries in NB
      • Starting a Business in NB
      • Best Business to Start in NB
      • Businesses for Sale in NB
        • Franchise Opportunities in NB
      • Register a Business in NB
        • NB Business Registry
        • NB Business License
      • Incorporating a Business in NB
    • Grants
      • Start Up Business Grants
    • Loans
      • How to Get a Small Business Loan in NB
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • Newfoundland
    • Newfoundland & Labrador Business Guide
      • Major Industries in NL
      • Start a Business in NL
      • Best Business to Start in NL
      • Businesses for Sale in NL
      • Incorporate a Business in NL
      • Register a Business in NL
    • Grants
      • Start Up Business Grants
    • Loans
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • Nova Scotia
    • Nova Scotia Small Business Guide
      • Top Industries in NS
        • Halifax Industries
      • Starting a Business in NS
      • Best Business to Start in NS
      • Businesses for Sale in NS
        • Franchise Opportunities
        • Halifax Business for Sale
          • Business Brokers in Halifax
      • Incorporating a Business in NS
      • Register a Business in NS
        • NS Registry of Joint Stocks
          • How to Search the NS Registry
        • NS Business Number
        • NS Business License
      • Business Insurance in NS
      • Business Immigration to NS
      • Business News in NS
      • Business Resources for NS
    • Grants
      • Start Up Business Grants
    • Loans
      • How to Get a Business Loan in NS
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • PEI
    • PEI Small Business Guide
      • Major Industries in PEI
      • Starting a Business in PEI
      • Best Business to Start in PEI
      • Businesses for Sale PEI
      • Incorporate a Business in PEI
      • Register a Business in PEI
        • PEI Business Registry
    • Grants
      • Start Up Business Grants
    • Loans
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • About
  • Get Help

Urban Main Street Loan Initiative (UMSLI)

by Maurice | February 4, 2022

Amount:

$60,000.00

Type of Program:

Grants & Loan


Description:

The Urban Main Street Loan Initiative (UMSLI) provides two loans that are to be used to finance the everyday operations of a business such as sales and marketing, product development, wages and other activities for businesses such as retail shops, restaurants, corner stores, etc., and businesses of strategic importance to the community.

Comments on Funding:

Funding takes the form of two loans: an initial loan of $40,000 and a supplemental loan of up to $20,000. One must first receive the full $40,000 Initial Loan before submitting an application for a Supplemental Loan. In the case of the initial loan, 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022.

In the case of the Supplemental Loan, 50% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022; 


When It Ends:

Ongoing

Deadline:

March 31

Eligibility:

​The applicant must:

  • have attempted to access other federal relief measures under Canada’s COVID-19 Economic Response Plan and was either ineligible or rejected, or accessed COVID-19 relief measures and continues to experience liquidity issues,
  • attest that they applied for other federal benefits and were approved, rejected or deemed ineligible,
  • have been established before March 01, 2020,
  • have been adversely impacted because of the COVID-19,
  • be located within the Greater Charlottetown area,
  • be a sole proprietorship, partnership, incorporated company and cooperative,
  • be the majority shareholder of the business and have the authority to bind the business.

Application Steps:

1

Applicants must submit an online application.

Other Things to Note:

CBDC Central PEI is a provider of the Atlantic Canada Opportunities Agency (ACOA) Regional Relief and Recovery Fund (RRRF) for “Main Street Businesses” called The Urban Main Street Loan Initiative.

Program Contact:

Urban Main Street Loan Initiative (UMSLI)/ Initiative des prêts pour les entreprises urbaines de rue principale

Related posts:

Aboriginal Business Financing Program (ABFP)
Jobs and Growth Fund (JGF)
Atlantic Innovation Fund (AIF)
Self Employment (SE) Program

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.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Footer

Company

  • About
  • Services
  • Contact
  • Privacy Policy

Grants

  • NS Grants
  • NB Grants
  • NL Grants
  • PEI Grants

© 2023 · Atlantic Canada Business Grants

  • About
  • Services
  • Contact
  • Privacy Policy