• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Atlantic Canada Business Grants

  • Atlantic
    • Accelerators
    • Entrepreneurship Programs
    • Competitions
    • Equity Investment Programs
    • Grants
      • Black Business Grants
      • Export Grants
      • Indigenous Business Grants
      • Women Business Grants
    • Loans
    • Wage Subsidies
    • Funding Organizations
      • ACOA
      • CBDC
  • New Brunswick
    • New Brunswick Small Business Guide
      • Major Industries in NB
      • Starting a Business in NB
      • Best Business to Start in NB
      • Businesses for Sale in NB
        • Franchise Opportunities in NB
      • Register a Business in NB
        • NB Business Registry
        • NB Business License
      • Incorporating a Business in NB
    • Grants
      • Start Up Business Grants
    • Loans
      • How to Get a Small Business Loan in NB
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • Newfoundland
    • Newfoundland & Labrador Business Guide
      • Major Industries in NL
      • Start a Business in NL
      • Best Business to Start in NL
      • Businesses for Sale in NL
      • Incorporate a Business in NL
      • Register a Business in NL
    • Grants
      • Start Up Business Grants
    • Loans
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • Nova Scotia
    • Nova Scotia Small Business Guide
      • Top Industries in NS
        • Halifax Industries
      • Starting a Business in NS
      • Best Business to Start in NS
      • Businesses for Sale in NS
        • Franchise Opportunities
        • Halifax Business for Sale
          • Business Brokers in Halifax
      • Incorporating a Business in NS
      • Register a Business in NS
        • NS Registry of Joint Stocks
          • How to Search the NS Registry
        • NS Business Number
        • NS Business License
      • Business Insurance in NS
      • Business Immigration to NS
      • Business News in NS
      • Business Resources for NS
    • Grants
      • Start Up Business Grants
    • Loans
      • How to Get a Business Loan in NS
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • PEI
    • PEI Small Business Guide
      • Major Industries in PEI
      • Starting a Business in PEI
      • Best Business to Start in PEI
      • Businesses for Sale PEI
      • Incorporate a Business in PEI
      • Register a Business in PEI
        • PEI Business Registry
    • Grants
      • Start Up Business Grants
    • Loans
    • Rebates
    • Tax Credits
    • Wage Subsidies
  • About
  • Get Help

Micro-Loan Program

by Maurice | February 6, 2023

Amount:

$15,000.00

Type of Program:

Loan


Description:

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:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be new or existing entrepreneurs,
  • have their businesses in Prince Edward Island.

Examples of categories eligible for this new financing program are:

  • Trades—recent graduates from trade school or those who have a job offer in a new field but do not have the resources to get set up with new tools or necessary equipment .
  • Qualification Recognition—newcomers to Canada who require some assistance getting back into their previous line of work, this loan can help to cover the costs of a challenge exam or professional fees.
  • Small-scale Food Production—funds available for growers, harvesters, and processors to invest in equipment and materials to increase the supply of food in their communities.
  • Business Start-up—great start up business idea, an entrepreneurial spirit and a business plan.
  • Winter Production Financing—existing program which provides new and expanding craft and giftware manufacturers with the financing required to increase production of their products during the winter months for sale in the peak selling periods.

Application Steps:

1

complete the Micro-Loan application, including the Business Plan Section and Cash Flow Forecast,

2

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.

Documentation Needed: 

Applicants must submit:

  • Applicants must submit the completed application form, including the Business Plan Section and Cash Flow Forecast. 

Other Things to Note:

No other details available.
Published date: May 25, 2016

Program Contact:

Micro-Loan Program

Related posts:

PEI Business Registry: Plain English Guide for Prince Edward Island Entrepreneurs
Major Industries in Prince Edward Island: Overview of 8 Top Industries
Jobs and Growth Fund (JGF)
Atlantic Innovation Fund (AIF)

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.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Footer

Company

  • About
  • Services
  • Contact
  • Privacy Policy

Grants

  • NS Grants
  • NB Grants
  • NL Grants
  • PEI Grants

© 2023 · Atlantic Canada Business Grants

  • About
  • Services
  • Contact
  • Privacy Policy