Atlantic Canada Business Grants

Community Business Development Corporation (CBDC)

Urban Main Street Loan Initiative (UMSLI)

Amount:

$60,000.00

Type of Program:

Grants & Loan

Description:

The Urban Main Street Loan Initiative (UMSLI) provides two loans that are to be used to finance the everyday operations of a business such as sales and marketing, product development, wages and other activities for businesses such as retail shops, restaurants, corner stores, etc., and businesses of strategic importance to the community.

Comments on Funding:

Funding takes the form of two loans: an initial loan of $40,000 and a supplemental loan of up to $20,000. One must first receive the full $40,000 Initial Loan before submitting an application for a Supplemental Loan. In the case of the initial loan, 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022.

In the case of the Supplemental Loan, 50% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022; 

When It Ends:

Ongoing

Deadline:

March 31

Eligibility:

​The applicant must:

  • have attempted to access other federal relief measures under Canada’s COVID-19 Economic Response Plan and was either ineligible or rejected, or accessed COVID-19 relief measures and continues to experience liquidity issues,
  • attest that they applied for other federal benefits and were approved, rejected or deemed ineligible,
  • have been established before March 01, 2020,
  • have been adversely impacted because of the COVID-19,
  • be located within the Greater Charlottetown area,
  • be a sole proprietorship, partnership, incorporated company and cooperative,
  • be the majority shareholder of the business and have the authority to bind the business.

Application Steps:

1

Applicants must submit an online application.

Other Things to Note:

CBDC Central PEI is a provider of the Atlantic Canada Opportunities Agency (ACOA) Regional Relief and Recovery Fund (RRRF) for “Main Street Businesses” called The Urban Main Street Loan Initiative.

Program Contact:

Urban Main Street Loan Initiative (UMSLI)/ Initiative des prêts pour les entreprises urbaines de rue principale

Digital Main Street (DMS) New Brunswick

Amount:

$3,000.00

Type of Program:

Grants

Description:

The Digital Main Street Program helps small businesses in New Brunswick achieve digital transformation.

There are four components to the Digital Main Street program which include:

  1. 1
    Digital Main Street platform,
  2. 2
    Digital Main Street training,
  3. 3
    The Digital Service Squad,
  4. 4
    Digital transformation grant.

Comments on Funding:

Funding takes the form of a non-repayable contribution of up to $3,000. 

When It Ends:

Ongoing

Deadline:

March 31

Eligibility:

​The applicant must:

  • be a registered business in New Brunswick and/or be incorporated,
  • employ 1-25 employees,
  • be open for business/operating at the time of application (not a Startup),
  • be owned by a Brunswick resident who is at least 18 years old at the time of application,
  • be owned by a Canadian citizen or permanent resident,
  • not be a business supplying digital services to other businesses,
  • not be a franchise, including those individually owned and operated,
  • not be a not-for-profit/charitable organization,
  • not be a purely online business, 

Application Steps:

Applicants wishing to benefit from the grant must: 

1

register on the Digital Main Street Platform, 

2

do the Digital Main Street Assessment, 

3

pass an eligibility quiz, 

4

complete the online training,

5

develop a Digital Transformation Plan.

Other Things to Note:

Businesses with multiple locations are only eligible to apply for one Digital Transformation Grant. Owners with multiple businesses may only apply for one grant.

Program Contact:

Digital Main Street (DMS) New Brunswick

CBDC Line of Credit

Amount:

$20,000.00

Type of Program:

Loan

Description:

South Shore Opportunities CBDC is offering on a pilot basis Line of Credit loan for eligible business activity with a base of operations in Queens County or Lunenburg County, Nova Scotia. The loan can be used to finance inventory purchase, bridge financing and other uses at the discretion of the Board of Directors.

Comments on Funding:

Funding is up to $20,000, with no minimum loan. Interest rate starts at bank Prime plus 3.0% and can raise or lower (dependent upon risk assessment). The maximum term is 1 year. The upfront service fee is 4.5% of the approved limit of the loan.  

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

​The applicant must:

  • be a sole proprietorship, a partnership, or a limited company,
  • be operating in Queens County or Lunenburg County, Nova Scotia,
  • have strong personal credit.

Application Steps:

1

Applications can be made through one of the CBDC's Business Officers by emailing sso@cbdc or telephone 902-354-2616.

Other Things to Note:

This loan product is being offered on a pilot basis by South Shore Opportunities Incorporated. For more information on the Line of Credit loan, please email sso@cbdc.ca, or call South Shore Opportunities cbdc at (902) 354-2616.

Program Contact:

LINE OF CREDIT (pilot)

Immigrant Loan Program

Amount:

$20,000.00

Type of Program:

Loan

Description:

Immigrant Loan Program is a pilot project that offers financing for temporary residents wishing to start a registered business in the area.

Comments on Funding:

Funding is up to $20,000 and is available in the form of repayable loan. Fixed interest will be charged at prime rate plus 3%. 

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicant must:

  • temporary residents,
  • aged 19 or older,
  • be wishing to start a registered business (seasonal and part-time businesses are acceptable).

Application Steps:

1

Applicants must submit their completed applications to patricia.macneil@cbdc.ca at Coastal Business.

Documentation Needed: 

​Applicants must submit the completed application form and the following documents:

  • business plan,
  • resume,
  • copy of canadian visa and study/ work permit (if applicable),
  • photo identification.

Other Things to Note:

The exact geographical area is not mentioned.

Program Contact:

​Immigrant Loan Program - Pilot Project

​APPLICATION Immigrant Loan Program (ILP)​​​

Online Presence Micro Loan

Amount:

$2,500.00

Type of Program:

Grant & Loan

Description:

The CBDC Online Presence Micro Loan provides financing for small businesses looking to create or improve their online presence.

Comments on Funding:

Funding is up to $2,500 +HST for the set up of the website (inclusive of E-Commerce). The loan has a $500 forgivable training portion and interest rate is prime +2, with flexible repayment terms and no application fees. 

When It Ends:

Accepting applications starting January 5, 2022

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • Applicants must be small businesses looking to create or improve their online presence.

Application Steps:

1

Applicants must complete and submit the Online Presence Micro Loan Application.

Documentation Needed: 

  1. 1
    Financial statements/ Statement Self Employment Earnings for last fiscal year (if applicable),
  2. 2
    Interim (in-house) Financial statements up to date of application,
  3. 3
    Quote for website improvements from technology company,
  4. 4
    Proof of being up to date with the CRA.

Other Things to Note:

Grant portions of the loan are limited, so please apply as soon as possible.

Program Contact:

​Online Presence Micro Loan

​Online Presence Micro Loan APPLICATION FOR FINANCING​​​