Impact Loan

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:

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

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

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