CBDC Chaleur Future Entrepreneur Loan
Overview
If you are a prospective entrepreneur (19 years old or younger) in the Chaleur region of New Brunswick, you can get a loan of up to $1,500, with a possibility of being reimbursed 30% of the loan value.
At a glance
Funding available
- Increasing community impact
- Raise awareness and mobilize the public
- Maximum amount : 1,500 $
- Up to 30% of project cost
- Open continuously
Eligible candidates
- All industries
- Nova Scotia
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Youth (<40)
- Startups
Activities funded
The CBDC Chaleur Future Entrepreneur Loan supports entrepreneurial ventures initiated by young individuals in the Chaleur region. While explicit types of eligible projects are not detailed, the emphasis is on creating micro-enterprises that offer practical work experience to the participants.
- Creation and development of youth-led micro-enterprises.
- Projects that provide practical work experience for young entrepreneurs.
Eligibility
Eligibility for this grant is determined by specific requirements related to the applicant's age, location, and family eligibility.
- The applicant must be between 14 to 19 years old.
- The applicant must be from the Chaleur region.
- Only one family member is eligible for the program.
Who is eligible?
The Future Entrepreneur Loan program is designed for youth aged 14 to 19 from the Chaleur region who aspire to gain work experience by establishing their own micro-enterprise. The program targets emerging young entrepreneurs by providing financial support, fostering an entrepreneurial spirit, and promoting business start-up awareness and networking opportunities.Eligible expenses
Eligible expenses for the Future Entrepreneur Loan include:
- Startup costs for the micro-enterprise
- Purchase of equipment and materials
- Marketing and promotional expenses
- Training and development costs
- Other business-related expenses approved by CBDC Chaleur
Eligible geographic areas
This loan is specifically designed for youths in the Chaleur region. Eligibility is tightly connected to this geographic area to support local entrepreneurial development.
- Youths aged 14 to 19 residing in the Chaleur region.
Selection criteria
The Future Entrepreneur Loan program offers support for youth entrepreneurs aged 14-19 in the Chaleur region. The selection criteria include repayment of the loan after 12 months and the submission of a final business report.
- Repay the loan 12 months after start-up
- Produce a final report detailing business operations
How to apply
Preliminary Inquiry
- Contact the CBDC Chaleur at 548-5951 for detailed information about the application process.
- Follow their social media for updates on #FutureEntrepreneurLoan.
Prepare Application
- Collect necessary information and documents to demonstrate your business idea and how the loan will be utilized.
- Ensure that the potential future entrepreneur and a supporting adult are involved in the planning process.
Application Submission
- Submit the completed application form with all required documents to CBDC Chaleur.
- Ensure that applications are submitted within any specified deadlines, as advised during the preliminary inquiry.
Additional information
- The program is intended to help young participants gain work experience through creating a micro-enterprise.
- It aims to encourage youth entrepreneurship and business start-up awareness.
- It also seeks to promote SMB programs and services, and foster networking with local business owners.
