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CBDC First-Time Entrepreneur Loan

Business Startup and Entrepreneur Loans in Atlantic Canada

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If you’re a new entrepreneur with a Startup Business and live in a rural community in Atlantic Canada, you may be eligible for a First-Time Entrepreneur Loan from your Community Business Development Corporation (CBDC). We know that turning your dreams into reality is difficult at the best of times, and that for the first-time entrepreneur, getting financial assistance through normal lending channels is tough. So we created the First-Time Entrepreneur Loan to help people just like you! We also offer counselling and training services to help you become a profitable, self-sufficient and successful business person.

 

WHAT CAN WE DO TO HELP YOU?

The CBDC First-Time Entrepreneur Loan offers up to $150,000* to qualified borrowers in Atlantic Canada. It’s available to sole proprietors, limited companies and partnerships (when majority control is resides with the new entrepreneur).

First-Time Entrepreneur Loans are repayable, but have competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantees, or equity investments.

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READY TO GET MOVING?

If you’re ready to move ahead with your business dreams and need financial assistance, please give one of our experienced and trained business advisors a call.

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FIRST-TIME ENTREPRENEUR LOAN APPLICATION CRITERIA

  • Below is list of some of the requirements that must be meet by First-Time Entrepreneur Loan applicants:

  • You must be a new, first-time entrepreneur living in a rural area of Atlantic Canada;

  • Loan may be used for a business start-up, or to help buy an existing business;

  • Both seasonal and year-round businesses may apply;

  • The loan may be used for a variety of purposes: Start-up 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;

 

*Please note:

  • Please note, in certain circumstances, CBDCs can provide financial assistance that exceeds $150,000 per eligible borrower.

Programs and services offered by CBDCs may vary by region. Please check the website or contact us for more information.

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