CBDC Social Enterprise Loan
NS, Canada
Loans for social enterprises in Atlantic Canada
grant_single|update January 24, 2025
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
Get a loan of up to $150,000 to start or improve a social enterprise in rural Atlantic Canada.
grant_single_labels|terms_and_conditions
This loan offers financial support to social enterprises in Atlantic Canada, with competitive terms for acquiring necessary business assets. The financing modalities are intended to facilitate the sustainability and expansion of these organizations.
- Loans are available up to $150,000 per eligible applicant.
- Funds may be utilized to purchase machinery, equipment, or other essentials for business operations.
- Loan amortizations can be extended to a duration of up to ten years, subject to the lifespan of the acquired asset(s).
- Potential for financial assistance exceeding $150,000, depending on specific circumstances.
- The interest rates and repayment terms are competitive in nature.
grant_single_labels|projects
This grant supports the development and growth of social enterprises in Atlantic Canada's rural communities. It facilitates the purchase of assets and resources needed for social enterprises to start or expand their business operations.
- Purchasing machinery necessary for business operations.
- Acquiring equipment to enhance production capabilities.
- Buying other essential items for continued business activities.
- Renovating or upgrading existing business infrastructure.
- Expanding current business operations to increase revenue generation.
grant_single|admissibleProjectsExample
$ 150,000
Opening a zero-waste grocery store to promote sustainable living
$ 150,000
Opening a cooperative bakery to provide jobs for local residents
$ 130,000
Renovating a community center to include recreational facilities
$ 150,000
Upgrading an artisanal textile workshop to boost production capacity
$ 150,000
Expanding an eco-friendly farming cooperative facility
$ 150,000
Creating a tech hub to foster innovation and job creation
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the CBDC Social Enterprise Loan are officially registered non-profit organizations, including charities, cooperatives, or societies that require business support for revenue-generating operations. The key eligibility criteria are:- The Social Enterprise can be either new or existing.- Operations must be located in rural areas of Atlantic Canada.- The Social Enterprise must have a realistic expectation of economic viability and employ sound business practices.- The operations should contribute to job creation and maintenance in the community.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
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.
grant_single_labels|criteria
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.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Determine Eligibility
- Ensure your organization is a registered non-profit, charity, cooperative, or society.
- Verify that your social enterprise operates in a rural area of Atlantic Canada.
- Step 2: Prepare Required Documents
- Gather financial statements and documents proving economic viability.
- Prepare a detailed business plan outlining the use of funds and expected community impact.
- Step 3: Initial Consultation
- Contact your local CBDC office to discuss your application and ensure all requirements are understood.
- Step 4: Complete Application
- Fill out the CBDC Social Enterprise Loan application form.
- Include all required supporting documents and information as discussed with CBDC representatives.
- Step 5: Submit Application
- Submit your completed application and documents to your local CBDC office.
- Ensure receipt of application confirmation from the CBDC office.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
1-888-303-2232
