CBDC Social Enterprise Loan

The eligibility criteria for the CBDC Social Enterprise Loan are focused on the applicant's business form and location, as well as the intended use of funds.

• The applicant must be a non-profit organization, including charities, cooperatives, or societies.
• The social enterprise must be located in rural areas of Atlantic Canada.
• Both new and existing social enterprises are eligible.
• The loan can be used for starting a new social enterprise or expanding, renovating, or upgrading an existing one.
• The business operations must demonstrate economic viability and sound business practices.
• The social enterprise must facilitate job creation and maintenance in the community.

Who is eligible?

Who is not eligible

There are certain types of companies that are not eligible for the CBDC Social Enterprise Loan:

• For-profit businesses
• Companies located outside of rural areas in Atlantic Canada
• Businesses not focused on social and community development objectives

Eligible expenses

The CBDC Social Enterprise Loan supports projects aiming to enhance social and community development by expanding or improving their operational capabilities. Eligible activities focus on purchasing assets, carrying out renovations, and expanding existing enterprises in rural Atlantic Canada.

• Purchase of machinery and equipment necessary for business operations.
• Renovation of existing facilities to support social and community development goals.
• Expansion of current social enterprise activities to increase revenue generation.
• Upgrading assets to improve operational efficiency and sustainability.

Eligible geographic areas

This grant is available to social enterprises operating in rural areas within Atlantic Canada. It aims to support the development and sustainability of communities in these regions.

• Rural areas within the provinces of Newfoundland and Labrador.
• Rural areas within the provinces of Prince Edward Island.
• Rural areas within the provinces of Nova Scotia.
• Rural areas within the provinces of New Brunswick.

There are evaluation and selection criteria for the CBDC Social Enterprise Loan grant:

• Applicants must be non-profits, charities, cooperatives, or societies in need of business support.
• Loan funds should be used for revenue-generating business operations that benefit rural areas of Atlantic Canada.
• The Social Enterprise should demonstrate economic viability, sound business practices, and a commitment to job creation and maintenance in the community.
• New and existing Social Enterprises, both seasonal and year-round, are eligible for the loan.

Here are a few more important details to consider:

• Loan repayment terms are designed to be competitive.
• Amortization is determined by the life expectancy of the asset being acquired.