CBDC Kick$tart
NL, Canada
Loan for young entrepreneurs in Newfoundland and Labrador
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJuly 09, 2024
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
If you're an entrepreneur under the age of 35 in Newfoundland and Labrador and you haven't been able to get funding from other sources, you can get a low-interest loan of up to $10,000.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 10,000
Launching a local organic juice bar in downtown St John's
$ 10,000
Developing an innovative mobile app for mental health support
$ 10,000
Expanding a local artisan bakery with new baking equipment
grant_single_labels|admissibility
Eligibility Criteria:
- Must be a Canadian citizen or permanent resident
- Must be starting a new business
- Must demonstrate financial need
grant_eligibility_criteria|who_can_apply
The KICK$TART Loan Program is designed to assist individuals and startups in Canada seeking financial support to start a business. Potential applicants are those who demonstrate a viable business idea and the ability to repay the loan. Typically, startups in the ideation stage or early development phase could benefit from this program. Specific sectors or business types are not indicated, suggesting the program may be open to a broad range of business ventures.
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant.
- Companies in the tobacco industry
- Companies involved in speculative activities
grant_eligibility_criteria|eligible_expenses
- Cost of equipment and supplies
- Marketing and advertising expenses
- Professional services fees (e.g., legal or accounting)
- Rent or lease of business premises
- Salaries for new hires
grant_single_labels|criteria
There are evaluation and selection criteria for the KICK$TART Loan Program. The criteria include:
- Financial viability of the business plan
- Demonstrated market research and demand
- Qualifications and experience of the applicant
- Ability to repay the loan
- Potential for job creation and economic impact
grant_single_labels|register
Here are the steps to apply for the KICK$TART Loan Program:
- Step 1: Contact Startup Expert
- Reach out to a startup expert through the program’s contact information.
- Discuss your business idea and get initial guidance on the application process.
- Step 2: Prepare Business Plan
- Develop a comprehensive business plan outlining your business model and strategies.
- Include financial projections and market analysis.
- Step 3: Gather Supporting Documents
- Compile necessary documents such as personal identification, financial statements, and other relevant credentials.
- Ensure all documents meet the program’s requirements.
- Step 4: Complete the Loan Application
- Fill out the loan application form with accurate business and personal information.
- Ensure all sections are completed fully and truthfully.
- Step 5: Submit the Application
- Submit your application and all supporting documents to the program provider, following the instructions provided during your consultation.
- Confirm that all elements of the application are included and complete.
- Step 6: Receive Confirmation
- Await confirmation of receipt from the program provider.
- Keep a record of any correspondence for future reference.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The program offers personalized business advice through startup experts.
grant_single_labels|contact
1-888-303-2232
Apply to this program
KICK$TART Loan Program Summary
Details of the KICK$TART Loan Program
The KICK$TART Loan Program is designed to assist individuals in starting a business by providing financial support in the form of loans. The program aims to help entrepreneurs kickstart their business ventures and turn their ideas into successful enterprises.
Eligibility Criteria
To be eligible for the KICK$TART Loan Program, applicants must meet certain criteria such as demonstrating a viable business plan, showcasing the potential for growth and sustainability, and being committed to the success of their business.
Application Process
Applying for the KICK$TART Loan Program involves submitting a detailed business proposal outlining the business concept, target market, marketing strategy, financial projections, and how the loan will be utilized to achieve business goals.
Benefits of the Program
The KICK$TART Loan Program offers benefits such as low-interest rates, flexible repayment terms, and personalized support from startup experts to help entrepreneurs navigate the challenges of starting a business successfully.
Impact on Entrepreneurs
By providing access to financial resources and guidance, the KICK$TART Loan Program has the potential to empower aspiring entrepreneurs, stimulate economic growth, and contribute to the development of innovative businesses in the Canadian economy.
