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Impact Loan Program

by Maurice | February 3, 2023

Amount:

$25,000

Type of Program:

Loans


Description:

The Impact loan program is designed to offer a business start-up loan and expansion financing of up to $25,000 for small and medium-sized businesses in Greater Moncton. 

Comments on Funding:

Funding is a loan of up to $25,000.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must be:

  • a small and medium-sized business;
  • a business start-up (entrepreneurs of all ages can apply);
  • an established business owner, as follows:
  • be ages 19-39;
  • be using the fund for expansion financing.
  • a business registered in either Dieppe, Riverview, or Moncton;
  • subject to a clean credit check;
  • a business that is operational year-round;
  • The loan cannot be used for a business where greater than 50% of the revenue comes from the sale of alcohol, tobacco, or any controlled substance. This also includes businesses commonly referred to as being part of the “Sin” category;
  • The loan cannot be used for the purchase of a vehicle, land, or a building.

Application Steps:

1

Applicants must book a business counseling session;

2

Applicants must write their business plan;

3

Applicants must submit an application using the Entrepreneur Intake Form available online.

Documentation Needed: 

Applicants must submit:

  1. 1
    the completed application form;
  2. 2
    a business plan.

Program Contact:

Impact Loan Program – 3+ Corporation

Impact Atlantic | More Than A Start-Up Loan

Related posts:

How to Start a Business in New Brunswick: Step-by-Step Guide for New Entrepreneurs
New Brunswick Small Business: Complete Guide for Entrepreneurs
Incorporating a Business in New Brunswick: Step-by-Step Guide for New Entrepreneurs
How to Register a Business in New Brunswick: Step-by-Step Guide for New Entrepreneurs

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.

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