CBDC Micro-Loan Program
grant_single|update January 24, 2025
NS, Canada
Micro-loan for Nova Scotia entrepreneurs
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
Loans of $500 to $5,000 for Shelburne, Nova Scotia, entrepreneurs to fund a start-up or to get a boost in working capital.
grant_single_labels|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.
grant_single_labels|projects
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
grant_single_labels|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
grant_single_labels|apply
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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.
grant_single_labels|contact
902-875-1133
Apply to this program
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