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.

CBDC First-time Entrepreneur Loan

NS, Canada

Atlantic Canada start-up loan

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Loans and Capital investments

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Community Business Development Corporations (CBDC)

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

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Business start-up
Purchasing an existing business
Seasonal and year-round businesses
Start-up costs
Fixed assets
Working capital
Buildings and land
Furniture and fixtures
Machinery or equipment
Vehicles strictly for business
Franchise purchases
Leasehold improvements

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$85,000

Halifax

Opening a microbrewery with a tasting room and local distribution.

$150,000

Moncton

Purchase of a franchise restaurant in Moncton.

$60,000

Charlottetown

Establishing a seasonal eco-tourism business in Charlottetown.

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The CBDC First-Time Entrepreneur Loan offers up to $150,000 to qualified borrowers in Atlantic Canada. Eligibility criteria include:

New, first-time entrepreneur living in a rural area of Atlantic Canada
Loan may be used for business start-ups or buying an existing business
Both seasonal and year-round businesses may apply
Loan can be used for various purposes like start-up costs, fixed assets, working capital, etc.
Franchise purchases and Leasehold improvements are eligible

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There are eligible types of companies for the CBDC First-Time Entrepreneur Loan in Atlantic Canada. Sole proprietors, limited companies, and partnerships where majority control resides with the new entrepreneur are eligible.

Sole proprietors
Limited companies
Partnerships (where majority control resides with the new entrepreneur)

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Yes, eligible expenses for the CBDC First-Time Entrepreneur Loan include start-up costs, fixed assets, working capital, buildings and land, furniture and fixtures, machinery or equipment, vehicles strictly for business use, franchise purchases, and leasehold improvements.

Start-up costs
Fixed assets
Working capital
Buildings and land
Furniture and fixtures
Machinery or equipment
Vehicles strictly for business use
Franchise purchases
Leasehold improvements

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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

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Step 1: Contact a startup expert
Step 2: Discuss your business plans and financial needs
Step 3: Determine if you meet the eligibility criteria
Step 4: Fill out the First-Time Entrepreneur Loan application
Step 5: Submit the application to your Community Business Development Corporation (CBDC)
Step 6: Await a decision on your loan application

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1-888-303-2232

Apply to this program

CBDC First-Time Entrepreneur Loan

Unlocking Opportunities for First-Time Entrepreneurs in Atlantic Canada

The CBDC First-Time Entrepreneur Loan program is a lifeline for new entrepreneurs residing in rural areas of Atlantic Canada. With loan amounts of up to $150,000, this initiative aims to bridge the gap between entrepreneurial dreams and financial reality. Eligible applicants can access competitive interest rates, flexible repayment terms, and a range of financing options to kickstart or expand their business ventures. Whether you're looking to start a new business, acquire an existing one, or fund essential business assets, the CBDC First-Time Entrepreneur Loan offers tailored support to propel your entrepreneurial journey forward. This program caters specifically to first-time entrepreneurs who often face barriers when seeking financial assistance through conventional lending channels. By providing access to much-needed capital, business counseling, and training services, the CBDC empowers individuals to build profitable and sustainable enterprises. The flexibility of fund utilization, encompassing startup costs, fixed assets, working capital, and more, ensures that entrepreneurs can align their financial resources with their business goals effectively. Additionally, the program's potential for exceeding the $150,000 limit under select circumstances demonstrates the CBDC's commitment to fostering entrepreneurial success and economic growth within the region. Aspiring entrepreneurs in Atlantic Canada can leverage this opportunity to turn their business aspirations into tangible achievements, supported by a network of experienced advisors dedicated to guiding them through every step of the entrepreneurial journey.