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CBDC First-time Entrepreneur Loan - NS - Canada

CBDC First-time Entrepreneur Loan

Last Update: July 22, 2025
NS, Canada
Atlantic Canada start-up loan

At a glance

Eligible Funding
  • Max. $150,000
Timeline
  • Unspecified
Financing Type
Loans and Capital investments
Eligible Industries
  • All industries
Funds Providers
Community Business Development Corporations
Program status
Open

Overview

Loans of up to $150,000 for first-time entrepreneurs in rural Atlantic Canada to start or buy a business.

Financing terms and conditions

The CBDC First-Time Entrepreneur Loan provides financial support to new entrepreneurs in Atlantic Canada through several flexible financing options. These modalities are designed to accommodate various business needs and enhance entrepreneurial success by offering competitive terms.
  • Offers loans up to $150,000 to qualified borrowers.
  • Includes options for term or demand loans, loan guarantees, and equity investments.
  • Provides competitive interest rates and repayment terms.

Activities funded

This grant aims to support first-time entrepreneurs in launching or acquiring businesses in rural areas of Atlantic Canada. Eligible activities for the loan encompass a wide range of business start-up and operational needs.
  • Business start-up initiatives.
  • Purchasing an existing business.
  • Covering start-up costs and fixed assets.
  • Securing working capital.
  • Investing in buildings and land.
  • Equipping business operations with necessary machinery.
  • Purchasing vehicles solely for business operations.
  • Acquiring a franchise.
  • Making leasehold improvements.
Examples of admissible projects:
$ 60,000
Establishing a seasonal eco-tourism business
$ 150,000
Purchase of a franchise restaurant
$ 85,000
Opening a microbrewery with a tasting room and local distribution

Eligibility

Eligibility for the CBDC First-Time Entrepreneur Loan requires applicants to meet specific criteria based on their entrepreneurial status and location.
  • The applicant must be a new, first-time entrepreneur.
  • The applicant must reside in a rural area of Atlantic Canada.
  • The business can be a start-up or an existing business the applicant wishes to purchase.
  • Both seasonal and year-round businesses are eligible.
  • The loan can be used for start-up costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or other equipment, and possibly vehicles used strictly for business operations.
  • Franchise purchases and leasehold improvements are also eligible.

Who is eligible?

The CBDC First-Time Entrepreneur Loan is available to individuals who meet certain eligibility requirements aimed at fostering new entrepreneurship in rural Atlantic Canada. Applicants must be new, first-time entrepreneurs living in rural areas of Atlantic Canada, and they can be sole proprietors, limited companies, or partnerships where majority control is with the new entrepreneur. The financial assistance can be applied towards starting a new business or purchasing an existing one, and it covers a wide range of business-related expenses.

Eligible expenses

The CBDC First-Time Entrepreneur Loan can be utilized for a variety of business-related activities aimed at helping first-time entrepreneurs in Atlantic Canada's rural areas build successful operations. Eligible projects include initiating new businesses or acquiring existing ones, along with funding essential business needs.
  • Start-up costs for new business ventures.
  • Purchase of existing businesses.
  • Acquisition of fixed assets necessary for business operations.
  • Provision of working capital to aid business cash flow.
  • Purchase of buildings and land for business use.
  • Investments in business-related furniture and fixtures.
  • Procurement of machinery or other essential business equipment.
  • Purchase of business vehicles used strictly for operations.
  • Franchise purchases within the business strategy.
  • Leasehold improvements to enhance business premises.

Eligible geographic areas

This grant is available to first-time entrepreneurs specifically in rural communities of Atlantic Canada. These areas are targeted to support new business ventures in less urbanized regions and to bolster economic development.
  • Rural areas in Newfoundland and Labrador
  • Rural communities in Prince Edward Island
  • Rural regions in Nova Scotia
  • Rural sectors in New Brunswick

Selection criteria

Here are the evaluation and selection criteria for the CBDC First-Time Entrepreneur Loan:
  • New, first-time entrepreneur living in a rural area of Atlantic Canada
  • Loan may be used for business start-up or to buy an existing business
  • Both seasonal and year-round businesses may apply
  • Various purposes for loan use: start-up costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or equipment, vehicles used strictly for business operations, franchise purchases, and leasehold improvements

How to apply

1

Confirm Eligibility

Ensure you meet all the eligibility criteria for the First-Time Entrepreneur Loan, including being a first-time entrepreneur living in a rural area of Atlantic Canada.
2

Contact CBDC

  • Reach out to your local Community Business Development Corporation for detailed information on the application process.
  • Discuss your business idea and funding needs with a CBDC business advisor.
3

Prepare Your Application

  • Collect necessary documentation such as business plans, financial statements, and identification.
  • Consider attending any counseling or training services offered to strengthen your application.
4

Submit Application

  • Complete the loan application form as provided by CBDC.
  • Submit all required documents to your local CBDC office as directed by your business advisor.
5

Application Review

  • CBDC will review your application and supporting documents.
  • Expect communication from CBDC regarding the status of your application and any additional information they may require.

Additional information

Here is additional relevant information for the CBDC First-Time Entrepreneur Loan:
  • CBDCs may offer business counseling and training services to help entrepreneurs become self-sufficient and successful business persons.
  • The program is designed to assist both seasonal and year-round businesses.
  • Applicants may need to contact their specific regional CBDC to understand any regional variations in the programs and services offered.
  • Financial assistance exceeding $150,000 may be possible under certain circumstances.

Contacts

1-888-303-2232
Apply to this program

Frequently Asked Questions about the CBDC First-time Entrepreneur Loan Program

Here are answers to the most common questions about the CBDC First-time Entrepreneur Loan. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the CBDC First-time Entrepreneur Loan?

How much funding can be received?

What expenses are eligible under CBDC First-time Entrepreneur Loan?

What is the deadline to apply?

Is the CBDC First-time Entrepreneur Loan a grant, loan, or tax credit?

Who are the financial supporters of the CBDC First-time Entrepreneur Loan?

Who is eligible for the CBDC First-time Entrepreneur Loan program?

Who can I contact for more information about the CBDC First-time Entrepreneur Loan?

Where is the CBDC First-time Entrepreneur Loan available?

Apply to this program

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