Type of Program:
The Micro Loan is up to $10,000 and can be used for eligible business activity, including start-up, expansion or purchase of an existing business with a base of operations in Queens County or Lunenburg County, Nova Scotia.
Comments on Funding:
Funding is up to $10,000.
Loan is in the form of a repayable, personal loan with a flexible interest rate and flexible repayment terms.
Interest rate currently: Starting at bank Prime plus 3% and can raise or lower (dependent upon risk assessment) for new and existing businesses.
No application fee.
When It Ends:
The applicant must:
Applicants are encouraged to make an appointment to discuss their business idea early in the planning stage to take advantage of the counselling and technical services that are also available at NO FEE for service.
Applications can be made through one of CBDC's Business Officers by emailing sso@cbdc or telephone 902-354-2616.
No specific documentation has been identified.
Other Things to Note:
For more information on the MICRO loan, applicants should email firstname.lastname@example.org, or call South Shore Opportunities cbdc at 354-2616