How much funding can be received?

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.

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grant_single|admissibleProjectsExample

$ 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

grant_single_labels|admissibility

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.

grant_eligibility_criteria|who_can_apply

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.

grant_eligibility_criteria|eligible_expenses

Eligible expenses for this grant include:

Startup money for new entrepreneurs
Boost in working capital for small business owners

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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

grant_single_labels|register

Step 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.
Step 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.
Step 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.
Step 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.
Step 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.

grant_single_labels|otherInfo

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.