Type of Program:
The Micro-Loan Program supports Prince Edward Island new and existing entrepreneurs with financing and working capital requirements.
Comments on Funding:
Funding is up to a maximum of $15,000 per applicant.
Repayment terms are up to a maximum of 5 years at an interest rate of TD Bank Prime + 4.5%.
When It Ends:
The applicant must:
Examples of categories eligible for this new financing program are:
complete the Micro-Loan application, including the Business Plan Section and Cash Flow Forecast,
submit the completed application to an Account Manager with Finance PEI. The Account Manager will conduct an interview with the applicant(s) to discuss the business proposal and the next steps required to determine eligibility.
Applicants must submit: