How much funding can be received?

Funds up to 10000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the CBDC Drive?

CBDC Drive is funded by Community Business Development Corporations (CBDC)

What are CBDC Drive's eligibility criterias?

No specific eligibility criteria provided in the context for the CBDC Drive grant.

CBDC Drive

Last Update: January 24, 2025

NS, Canada

Loan for young entrepreneurs in Newfoundland and Labrador

CBDC Drive at a glance

Eligible Funding

Max. $10,000

Timeline

Open Date : July 9, 2024

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Community Business Development Corporations (CBDC)

Status

Open

Overview of the CBDC Drive program

If you're an entrepreneur under the age of 35 in Newfoundland and Labrador and you haven't been able to get funding from other sources, you can get a low-interest loan of up to $10,000.

Eligible projects & activities

Examples of admissible projects:

$ 10,000

Launching a modern bakery specializing in gluten-free products

$ 10,000

Establishing a community garden project to enhance local food security

$ 10,000

Opening a tech startup focused on app development for mental health

$ 10,000

Launching a sustainable fashion boutique emphasizing eco-friendly materials

$ 10,000

Creating a digital marketing agency tailored to small businesses

Eligibility criteria of the CBDC Drive program

Eligibility criteria for this grant are :

Be a Newfoundland and Labrador entrepreneur under 35 years of age
Not have been able to obtain financing from other sources

Who is eligible?

The information related to the evaluation and selection criteria for the KICK$TART Loan Program is not provided in the given context. Typically, such programs may evaluate based on business viability, financial projections, and alignment with economic development goals, but no specific criteria are mentioned here.

Eligible expenses

Eligible expenses for this grant include:

Startup costs
Equipment purchases
Marketing and advertising expenses
Operating expenses

Eligibility criteria of the CBDC Drive program

Evaluation and selection criteria for the KICK$TART & Drive grant in Canada may include:

Being under 35 years of age
Be an entrepreneur in Newfoundland and Labrador
Have been unable to obtain financing from other sources
Demonstrate financial need to start a business

How to apply to the CBDC Drive program

Initial Inquiry

Contact a startup expert for guidance on the KICK$TART Loan Program.
Gather preliminary information about the loan requirements and program specifics.

Application Preparation

Prepare a detailed business plan outlining your startup idea, expected outcomes, and financial projections.
Gather all necessary documents such as personal identification, business registration, and financial statements.

Contact CBDC

Find your nearest Community Business Development Corporation (CBDC) using the "Find My CBDC" option.
Schedule a meeting with a CBDC representative to discuss your application and business plan.

Submit Application

Submit your completed application and business plan to the local CBDC.
Ensure all forms are filled correctly and that all required documentation is included.

Confirmation and Follow-up