How much funding can be received?

Funds up to 150000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

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

CBDC First-time Entrepreneur Loan is funded by Community Business Development Corporations (CBDC)

What are CBDC First-time Entrepreneur Loan's eligibility criterias?

The applicant must be a new, first-time entrepreneur living in a rural area of Atlantic Canada. The business can be a start-up or the purchase of an existing business. The applicant can be a sole proprietor, limited company, or partnership with majority control residing with the new entrepreneur.

CBDC First-time Entrepreneur Loan

Last Update: July 22, 2025

NS, Canada

Atlantic Canada start-up loan

CBDC First-time Entrepreneur Loan at a glance

Eligible Funding

Max. $150,000

Timeline

Unspecified

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Community Business Development Corporations (CBDC)

Program status

Open

Overview of the CBDC First-time Entrepreneur Loan program

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.

Eligible projects & activities

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 criteria of the CBDC First-time Entrepreneur Loan program

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

Eligibility criteria of the CBDC First-time Entrepreneur Loan program

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 to the CBDC First-time Entrepreneur Loan program

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.

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.

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.

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.

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.