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Impact Loan

ByMaurice

Amount:

$25,000.00

Type of Program:

Loan

Description:

The Impact Loan program provides up to $25,000 in working capital for startups and expansion projects for entrepreneurs in the Greater Fredericton Region. 

Comments on Funding:

Funding is a $25,000 repayable loan.
Typical repayment terms are between 12 and 60 months, with low interest rates and no penalties for early repayment. Interest rates begin at prime plus 2%.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

  • Applicants must be startups in the Greater Fredericton Region. 

Application Steps:

Applicants must:

1

complete the Impact loan application online, or by contacting the partner organization delivering the loan in their area.

2

provide other documents and the permission to conduct a credit check, at the request of their Loans Officer.

3

complete the legal documents, if approved.

Documentation Needed: 

Applicants must:

  • complete the Impact loan application. For the initial application the following information is required: personal contact details, personal assets and liabilities, a description of the business, any current business assets and liabilities, listing of principal owners, and projected business start-up (or expansion) costs and sources of financing.
  • a copy of your business plan, resume, driver’s license, projected financial statements, answers to additional questions, and permission to conduct a credit check, at the request of their Loans Officer.

Other Things to Note:

No other details available.

Program Contact:

Planet Hatch: Funding

FAQ | Impact Atlantic

Related posts:

New Brunswick Small Business: Complete Guide for Entrepreneurs
How to Get a Small Business Loan in New Brunswick: Quick Guide for NB Entrepreneurs
Business License New Brunswick: Step-by-Step Guide, Costs & More
Franchise Opportunities in New Brunswick: How to Find Franchises for Sale + Mistakes to Avoid

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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