CBDC Innovation Loan

The CBDC Innovation Loan provides diverse financing options to support technological advancements in rural Atlantic Canada. These modalities aim to assist businesses in acquiring new technologies and supporting business growth.

• Up to $150,000 available per qualified borrower, with potential for additional financing in certain circumstances.
• Funding is available in the form of term loans, demand loans, loan guarantees, or equity investments.
• Loans cover costs such as acquisition of equipment, software, processes, or licenses related to new technology.
• Expenses for infrastructure changes, installations, and maintenance related to new technologies are included.
• Covers training expenses for employees on using the new technology adopted.

Eligibility for this loan is determined by specific requirements related to the business's location and operational characteristics.

• The business and the borrower must be located in rural areas of Atlantic Canada.
• Applicants can be either new or existing entrepreneurs.
• Both year-round and seasonal businesses are eligible.
• The business should demonstrate realistic prospects of economic viability.
• Employment creation and/or maintenance in the community is a key factor.
• Applications are evaluated based on revenue potential and the borrower's commitment to the project.

Who is eligible?

The CBDC Innovation Loan is available to businesses in rural areas of Atlantic Canada that demonstrate potential for economic viability and commitment to innovation.

Eligible expenses

The CBDC Innovation Loan aims to bolster business productivity and effectiveness through the adoption of new technologies in rural Atlantic Canada. The eligible activities for this grant focus on acquiring and implementing technology that enhances business operations.

• Acquisition of new equipment, software, processes, or licenses that constitute new technology.
• Infrastructure changes or installation to support the application of new technology.
• Maintenance costs associated with the implementation and use of new technology.
• Training employees in the application and use of new technology.

Eligible geographic areas

This grant is specifically targeted towards supporting rural-based businesses located in Atlantic Canada. Eligible geographical areas align with the focus on enhancing the technology and productivity of these regions.

• Atlantic Canada rural areas.

The CBDC Innovation Loan has specific evaluation and selection criteria that must be met by applicants to qualify for the funding. These criteria include the location of the business, its economic viability, revenue potential, and the applicant's commitment to the project.

• Available to new and existing entrepreneurs
• Business and borrower must be located in rural areas
• Year-round and seasonal businesses are acceptable
• Realistic prospects of economic viability
• Employment creation and/or maintenance in the community
• Revenue potential
• Borrower's commitment and dedication to the project

Here are additional relevant details for the CBDC Innovation Loan:

• Loans are available as term loans, demand loans, loan guarantees, or equity investments.
• Financial support may exceed $150,000 in specific cases based on CBDC discretion.
• After approval, CBDC may assist in employee training related to new technology adoption.
• Programs and services related to loans may vary by region in Atlantic Canada.