No Fixed Amount
Type of Program:
The Small Business Loan Guarantee Program delivers better financial assistance for the start-up and expansion of small businesses in Nova Scotia by providing them loan guarantees.
Credit unions are the only financial provider to offer access to the financing program and they can provide financing up to $500,000 in the form of term loans, working capital and lines of credit . No other financing programs provide access to working capital or lines of credit to individuals who would like to start or purchase a small business and/or grow and expand an existing business.
Special financing streams for immigrant entrepreneurs and social enterprises as well as the forestry and high-risk sectors are also available.
Comments on Funding:
Loans may be granted for a term of up to of 10 years.
The maximum guarantee supplied by the Province of Nova Scotia will be 90% of the value of all term loans.
The guarantee will remain at 75% on lines of credit but a 90% guarantee may be available to those that qualify under our special financing streams.
When It Ends:
Applicants must contact their local credit union branch for details.