CBDC General Business Loan
NS, Canada
Rural Atlantic Canada business loan
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Community Business Development Corporations (CBDC)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a business loan of up to $150,000 to buy or expand a business, develop new markets or purchase equipment in rural Atlantic Canada.
grant_single_labels|projects
- Entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada
- Expanding an existing business
- An existing company in need of working capital
- Both year-round and seasonal businesses are eligible
- Eligible business expenses may include: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. In some cases, vehicles strictly for business uses may also qualify
- Franchise purchases and Leasehold improvements are also eligible
- Potential borrowers must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessity
grant_single|admissibleProjectsExample
$140,000
Moncton
Opening a chain fitness studio, with a focus on community wellness
$150,000
St. John’s
Starting a seasonal seafood restaurant in downtown St John’s focusing on locally sourced ingredients
$120,000
Halifax
Opening a boutique hotel in rural Halifax, focusing on eco-friendly tourism
$100,000
Truro
Expanding an artisanal cheese factory, focusing on new product lines
$150,000
Sydney
Purchasing a franchise of a well-known coffee chain
$130,000
Charlottetown
Expanding an organic farm and market for local produce
grant_single_labels|admissibility
- Entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada
- Expanding an existing business
- An existing company in need of working capital
- Both year-round and seasonal businesses are eligible
- Eligible business expenses may include: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture
- In some cases, vehicles strictly for business uses may also qualify
- Franchise purchases and Leasehold improvements are also eligible
- Potential borrowers must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessity
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for the CBDC General Business Loan:
- Entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada
- Expanding an existing business
- An existing company in need of working capital
- Both year-round and seasonal businesses are eligible
- Eligible business expenses include start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture, as well as franchise purchases and Leasehold improvements
grant_eligibility_criteria|who_cannot_apply
There are certain types of companies that may not be eligible for the CBDC General Business Loan:
- Companies outside of rural Atlantic Canada
- Companies not involved in economic development or job creation
- Businesses that may negatively impact existing area businesses
grant_eligibility_criteria|eligible_expenses
Eligible business expenses for the CBDC General Business Loan may include start-up costs, land and buildings, fixed assets, machinery and equipment, fixtures and furniture, vehicles for business use, franchise purchases, and leasehold improvements.
- Start-up costs
- Land and buildings
- Fixed assets
- Machinery and equipment
- Fixtures and furniture
- Vehicles for business use
- Franchise purchases
- Leasehold improvements
grant_single_labels|criteria
The evaluation and selection criteria for the CBDC General Business Loan include:
- Entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada
- Expanding an existing business
- An existing company in need of working capital
- Both year-round and seasonal businesses are eligible
- Legitimate chance of economic viability
- Employment creation and/or maintenance without negatively impacting existing area businesses
grant_single_labels|register
- Step 1: Contact your local Community Business Development Corporation (CBDC) office to inquire about the CBDC General Business Loan program.
- Step 2: Determine if your business meets the qualifications for the loan, such as purchasing a new or existing company, expanding an existing business, or needing working capital.
- Step 3: Prepare the necessary documentation and information required for the loan application, including business plans, financial statements, and details of the intended use of the funds.
- Step 4: Submit your application to the CBDC office and await their decision on the loan approval.
grant_single_labels|contact
1-888-303-2232
Apply to this program
CBDC General Business Loan Summary
CBDC offers flexible commercial loans up to $150,000 for businesses in Atlantic Canada. The loans are tailored to help businesses grow, expand, or enhance their operations with competitive interest rates and repayment terms.
CBDC General Business Loan Overview
The CBDC General Business Loan is a financial solution provided by the Community Business Development Corporation (CBDC) for businesses and entrepreneurs in Atlantic Canada. This loan program offers funding of up to $150,000 to eligible applicants, allowing businesses to access capital for various purposes such as equipment procurement, facility upgrades, expansion, working capital, and more.
The main objective of the CBDC General Business Loan is to support businesses in rural Atlantic Canada by providing them with financial assistance to foster economic growth and development. The loans are secured and can have repayment terms ranging from one to ten years, offering flexibility to businesses in managing their financial obligations while focusing on business growth.
Entrepreneurs or businesses looking to purchase a new or existing company in rural Atlantic Canada, expand their current operations, or in need of working capital can apply for the CBDC General Business Loan. Eligible expenses that can be covered by the loan include start-up costs, land and buildings, fixed assets, machinery, equipment, fixtures, furniture, franchise purchases, and leasehold improvements.
CBDC aims to support businesses that demonstrate a legitimate chance of economic viability and show potential for employment creation without adversely impacting existing businesses in the area. The loan program seeks to provide businesses with the financial resources they need to thrive and succeed in their respective industries.
In certain circumstances, CBDCs have the flexibility to offer financial assistance exceeding $150,000 per eligible borrower, subject to specific criteria and approval. Businesses interested in the CBDC General Business Loan can reach out to their local CBDC office to inquire about program details and eligibility requirements in their region.
Overall, the CBDC General Business Loan serves as a valuable financial resource for businesses in Atlantic Canada, providing them with the capital they need to innovate, grow, and achieve their business objectives. With competitive interest rates, flexible repayment terms, and dedicated support from CBDC professionals, this loan program is designed to help businesses thrive and contribute to the economic development of the region.
