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Loan Guarantee

ByMaurice

Amount:

No Fixed Amount

Type of Program:

Loan Guarantee

Description:

CBDC NORTIP offers financial assistance to organizations wanting to start or expand a small business. 

Comments on Funding:

Funding takes the form of loan guarantees, with the following criteria:

  • The Corporation will only guarantee a chartered bank's authorized line of credit, or overdraft protection to the approved limit established by the Board of Directors.
  • The loan guarantee will be made only for a specific period of time, usually one to five years.
  • The Corporation will charge an administration fee of 5% per year for the guarantee.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

  • organizations wanting to start or expand a small business;
  • in the Northern Peninsula.

Application Steps:

1

Applicants must contact CBDC NORTIP through their online contact form.

Documentation Needed: 

No specific documentation has been identified.

Other Things to Note:

CBDC NORTIP is one of 41 Community Business Development Corporations (CBDCs) operating in rural Atlantic Canada. The CBDCs are a network of not-for-profit organizations that work in co-operation with all levels of government and the private sector to meet the needs of small business 

Program Contact:

CBDC NORTIP - Development Corporation

Related posts:

Newfoundland & Labrador Small Business: Complete Guide for Entrepreneurs
Newfoundland Small Business Start Up Grants (2023): Current List of Programs
Major Industries in Newfoundland and Labrador: Overview of 6 Growth Industries
JobsNL Wage Subsidy

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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