Atlantic Canada Business Grants

Rural Atlantic Canada

CBDC First-Time Entrepreneur Loan

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Amount:

$150,000.00

Type of Program:

Investment, Loan, Loan Guarantee

Description:

The CBDC First-Time Entrepreneur Loan provides financing of up to $150,000 to new entrepreneurs who live in a rural community in Atlantic Canada. 

Comments on Funding:

Funding is up to $150,000 per eligible borrower.
The loans are repayable and have competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantees, or equity investments.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant:

  • must be a new, first-time entrepreneur living in a rural area of Atlantic Canada
  • must be a sole proprietor, a limited company or partnership (majority control must reside with the new entrepreneur),
  • may be a seasonal and year-round business,
  • may use the loan for a business start-up, or to help buy an existing business, or for a variety of purposes: Startup costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or other types of equipment, and possibly vehicles used strictly for business operations. Franchise purchases and Leasehold improvements are also eligible.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Business Startup & New Entrepreneur Loans in NB, NL, NS & PEI

CBDC General Business Loan

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Amount:

$150,000.00

Type of Program:

Loan

Description:

The CBDC General Business Loan provides financing to businesses in rural Atlantic Canada for a wide range of expenses including: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. 

Comments on Funding:

Funding is up to $150,000 per eligible borrower.
The loans are repayable and have competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantees, or equity investments. The loans are secured, and can be from one to ten years.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants:

  • must be entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada,
  • must be expanding an existing business,
  • must be an existing company in need of working capital,
  • must be year-round or seasonal businesses,
  • may use the loan for: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. In some cases, vehicles strictly for business uses may also qualify. Franchise purchases and Leasehold improvements are also eligible.
  • must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessity.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Commercial Loans for Entrepreneurs and Business in NB, NL, NS & PEI

CBDC Innovation Loan

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Amount:

$150,000.00

Type of Program:

Loan

Description:

The CBDC Innovation Loan is designed to encourage business productivity and effectiveness in the communities of rural Atlantic Canada by advancing the adoption of technologies for business. New technologies may include existing methods that have been adapted or repurposed for commercial applications. The loan could also be used for financing for new products or services and training, as well as financial support. 

Comments on Funding:

Funding is up to $150,000 per eligible borrower.
All loans are repayable and have competitive interest rates and repayment terms. Financial options include term loan and demand loans, loan guarantees or equity investments.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be rural based businesses across Atlantic Canada,
  • be new or existing entrepreneurs located in rural areas,
  • be year-round or seasonal businesses,
  • have a realistic prospects of economic viability. Employment creation and/or maintenance in the community is also a key factor.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Innovation and Technology Business Loans in NB, NL, NS & PEI

CBDC Youth Loan

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The CBDC Youth Loan Program provides financial assistance to young entrepreneurs aged 18-34 for business startup, expansion or modernization in rural Atlantic Canada. 

Comments on Funding:

Funding is available in the form of a repayable loan with competitive interest rates and repayment terms. Financial options may include: demand and term loans, equity investments or loan guarantees.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants:

  • must be youth borrowers aged 18-34 and living in rural Atlantic Canada,
  • may use the loan for business startup, modernization or expansion,
  • must be seasonal or year-round businesses,
  • may take the loan for a variety of business expenses: start-up costs, fixed assets and/or working capital, acquiring assets of a previous business, leasehold improvements and franchise purchases,
  • may be sole proprietorships, limited companies partnerships (majority of the care and control must reside with the new entrepreneur),
  • should have a reasonable expectation of economic viability, as well as employment creation and/or maintenance in their community and the intended business operations must not have a negative impact on existing area businesses.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Young Entrepreneur (18-34) Small Business Loans in NB, NL, NS & PEI

CBDC Social Enterprise Loan

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Amount:

$150,000.00

Type of Program:

Loan

Description:

The Social Enterprise Loan may be used to purchase machinery, equipment or other items necessary for continued business operations. 

Comments on Funding:

Funding is up to $150,000 per eligible borrower.
The loans are repayable and have competitive interest rates and repayment terms.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a new or existing social enterprise (not-for-profit organization, a cooperative or a membership organization, a charity),
  • carry on seasonal or year-round activity,
  • be located and carry on its operations in rural areas of Atlantic Canada,
  • use the financial support for revenue generating business operations (to buy assets, renovate existing ones or to expand a social enterprise).
  • ensure that its business operations provide a realistic expectation of economic viability,
  • ensure sound business practices and facilitate job creation and maintenance in its community.

Application Steps:

1

Applicants must contact the CBDC personnel for further details.

Other Things to Note:

Programs and services delivered by CBDCs may vary by region.

Program Contact:

Business Loans for Social Enterprise in NB, NL, NS & PEI