Loan Guarantee

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:

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

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