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CBDC Micro-Loan Program - NS - Canada

CBDC Micro-Loan Program

Last Update: July 22, 2025
NS, Canada
Micro-loan for Nova Scotia entrepreneurs

At a glance

Eligible Funding
  • Max. $5,000
Timeline
  • Unspecified
Financing Type
Loans and Capital investments
Eligible Industries
  • All industries
Funds Providers
Unspecified
Program status
Open

Overview

Loans of $500 to $5,000 for Shelburne, Nova Scotia, entrepreneurs to fund a start-up or to get a boost in working capital.

Financing terms and conditions

This program offers financial support through unsecured micro-loans specifically designed for entrepreneurs and small business owners, promoting flexibility in repayment.
  • Loan amounts range from $500 to $5,000.
  • Interest rates are set at 2% above the prime rate.
  • Flexible repayment terms are available to accommodate business cash flows.

Activities funded

Examples of admissible projects:
$ 5,000
Opening a new craft coffee shop in downtown Shelburne with modern amenities
$ 5,000
Improving inventory management for a small art supply store with new software
$ 5,000
Expanding an eco-friendly cleaning service with additional equipment
$ 5,000
Providing a boost in working capital for a local bakery to purchase new ovens
$ 5,000
Launching a mobile pet grooming service with state-of-the-art equipment
$ 5,000
Starting an artisanal candle making business with locally sourced materials

Eligibility

Eligibility for the CBDC Micro-Loan Program requires businesses to meet specific criteria.
  • The loan is available for new entrepreneurs needing startup capital.
  • Small business owners in need of working capital can apply.

Who is eligible?

The CBDC Micro-Loan Program is designed for new entrepreneurs seeking startup capital and existing small business owners in need of additional working capital. The program offers unsecured micro-loans ranging from $500 to $5,000, making it accessible to a wide range of small business ventures, particularly those unable to secure traditional financing due to size or lack of collateral. With a focus on fostering entrepreneurship and supporting small businesses, the program appeals to individuals and entities looking to establish or grow their business operations in Shelburne and surrounding areas.

Eligible expenses

Eligible expenses for this grant include:
  • Startup money for new entrepreneurs
  • Boost in working capital for small business owners

Selection criteria

There are evaluation and selection criteria for the CBDC Micro-Loan Program:
  • Demonstrated need for financing
  • Viability of the business plan
  • Economic impact on the community
  • Ability to repay the loan
  • Entrepreneurial experience

How to apply

1

Contact CBDC-Shelburne

  • Phone 902-875-1133 to discuss your need for a micro-loan and gather information about the application process.
  • Request to speak to an advisor for guidance and support in applying for the loan.
2

Gather Required Information

  • Prepare information about your business or business idea, including financial details and objectives.
  • Ensure you have personal identification and business documentation ready.
3

Complete the Application Form

  • Fill out the micro-loan application form provided by CBDC-Shelburne.
  • Include all necessary details as advised by the CBDC representative.
4

Submit the Application

  • Submit the completed application form along with required documents to CBDC-Shelburne by the advised submission method (e.g., in-person, email, or online).
  • Ensure all parts of the application are thoroughly reviewed before submission.
5

Follow Up

  • Contact CBDC-Shelburne to confirm receipt of your application and inquire about the next steps.
  • Be prepared to provide additional information or clarification if requested by the CBDC advisor.

Additional information

The CBDC Micro-Loan Program offers additional benefits and options worth noting:
  • Assistance from startup experts is available for new entrepreneurs seeking guidance.
  • Loan terms are flexible and can be tailored to suit individual business needs.
  • Interest rates are competitive, set at 2% above the prime rate.
  • Both new and established business owners can benefit from the program.

Contacts

902-875-1133
Apply to this program

Frequently Asked Questions about the CBDC Micro-Loan Program Program

Here are answers to the most common questions about the CBDC Micro-Loan Program. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the CBDC Micro-Loan Program?

How much funding can be received?

What is the deadline to apply?

Is the CBDC Micro-Loan Program a grant, loan, or tax credit?

Who are the financial supporters of the CBDC Micro-Loan Program?

Who is eligible for the CBDC Micro-Loan Program program?

Who can I contact for more information about the CBDC Micro-Loan Program?

Where is the CBDC Micro-Loan Program available?

Are startups eligible for the CBDC Micro-Loan Program program?

Apply to this program

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