Production Loan Program

Amount:

$3,000

Type of Program:

Loan

Description:

Production Loan Program offers interest-free loans to help craftspeople purchase materials (and in some cases equipment and building supplies) in the off season, when income is limited.

Comments on Funding:

Funding is in the form of an interest-free loan up to $3,000.
There is a yearly administration fee of $60 for members and $70 for non members that will be deducted from the approved amount of loan (ie. if repayment is over a two year period, fee would be $120 for members and $140 for non members).

Repayment period is up to 12-24 months of loan date. Payment in the form of post dated cheques will be required before any funds will be released.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be craft producers (artisans, small producers, and/or just starting a business in Prince Edward Island,
make products that should meet a standard of quality similar to that spelled out in the PEI Crafts Council Standards Guidelines.
in need of money to purchase raw materials.

Application Steps:

Applicants must submit the completed application form.

Documentation Needed:

Applicants must submit: