Type of Program:
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:
The applicant must:
Applications can be made through one of the CBDC's Business Officers by emailing sso@cbdc or telephone 902-354-2616.
No specific documentation has been identified.
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 email@example.com, or call South Shore Opportunities cbdc at (902) 354-2616.