CBDC Youth Loan
NS, Canada
Business loans for young Atlantic Canadians
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
If you're a young entrepreneur (18 to 34 years old) in Atlantic Canada, you could get a loan for start-up, fixed assets and working capital needs.
grant_single_labels|projects
There are eligible projects and activities for the CBDC Youth Loan Program:
- Business startup
- Business expansion
- Business modernization
- Business management and training
- Start-up costs
- Fixed assets
- Working capital
- Leasehold improvements
- Franchise purchases
- Asset acquisition of a previous business
grant_single|admissibleProjectsExample
$70,000
Charlottetown
Starting a mobile dog grooming service to meet high demand
$90,000
Moncton
Expansion of a local artisan bakery to increase production capacity
$90,000
Saint John
Modernization of a community theater to enhance cultural offerings
$100,000
Halifax
Opening a new eco-friendly café featuring organic and local products
$110,000
Fredericton
Franchise purchase of a popular fitness centre to offer new services
$100,000
St. John's
Acquiring an existing yoga studio to continue wellness services
grant_single_labels|admissibility
- Available to Youth Borrowers in rural Atlantic Canada aged 18-34
- Eligible for business startup, modernization or expansion
- Seasonal and year-round businesses qualify
- Loans may be for a variety of business expenses: start-up costs, fixed assets and/or working capital
- Leasehold improvements and franchise purchases are also qualify
- May be used to acquire assets of a previous business, so long as the transaction is at arm’s length and the business assets are bought at or below current market value
- Eligible borrowers may be a sole proprietorship, a limited company or a partnership (majority of the care and control must reside with the new entrepreneur)
- The intended business operations must not have a negative impact on existing area businesses
- The borrower’s business should have a reasonable expectation of economic viability, as well as employment creation and/or maintenance in their community
- *Please note, in certain circumstances, CBDCs can provide financial assistance that exceeds $150,000 per eligible borrower. CBDC programs and services may vary by region
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for the CBDC Youth Loan Program:
- Startups, modernization, or expansion businesses run by young entrepreneurs aged 18-34 in rural Atlantic Canada
- Seasonal and year-round businesses, including sole proprietorships, limited companies, or partnerships
- Businesses with a focus on economic viability, employment creation, and community impact
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for the CBDC Youth Loan Program:
- Business operations that have a negative impact on existing area businesses.
- Companies that do not have a reasonable expectation of economic viability or employment creation in the community.
grant_eligibility_criteria|eligible_expenses
The CBDC Youth Loan Program covers a variety of eligible expenses for young entrepreneurs aged 18-34 in Atlantic Canada, including start-up costs, fixed assets, working capital, leasehold improvements, franchise purchases, and acquisition of assets from previous businesses.
- Start-up costs
- Fixed assets
- Working capital
- Leasehold improvements
- Franchise purchases
- Acquisition of assets from previous businesses
grant_single_labels|criteria
There are evaluation and selection criteria for the CBDC Youth Loan Program:
- Available to Youth Borrowers in rural Atlantic Canada aged 18-34.
- Eligible for business startup, modernization or expansion.
- Seasonal and year-round businesses qualify.
- Loans may be for a variety of business expenses: start-up costs, fixed assets and/or working capital.
- Leasehold improvements and franchise purchases also qualify.
- Intended business operations must not have a negative impact on existing area businesses.
- The borrower’s business should have economic viability and contribute to employment creation and/or maintenance in their community.
grant_single_labels|register
- Check if you meet the eligibility criteria:
- Youth borrowers in rural Atlantic Canada aged 18-34
- Available for business startup, modernization, or expansion
- Prepare necessary documents:
- Documentation supporting business plans and financial needs
- Proof of eligibility and identification
- Submit application to the Community Business Development Corporation (CBDC):
- Complete the application form
- Provide all required documents
- Wait for the application review process and decision:
- The CBDC will evaluate the proposal and financial information
- Notification of approval or rejection will be sent
grant_single_labels|otherInfo
- Applicants must present a solid business plan outlining their proposed venture and the economic impact it will have on the community.
- Applicants are encouraged to seek mentorship and guidance from experienced entrepreneurs or organizations to enhance their chances of success.
grant_single_labels|contact
1-888-303-2232
Apply to this program
CBDC Youth Loan Summary
CBDC Youth Loan program offers financial assistance to young entrepreneurs aged 18-34 in Atlantic Canada, providing access to capital for business startup, expansion, or modernization with competitive interest rates. The program aims to create and maintain employment opportunities while supporting innovative business ideas.
Understanding the CBDC Youth Loan Program
The CBDC Youth Loan Program targets young entrepreneurs in rural Atlantic Canada, offering them a vital source of funding to establish or grow their businesses. With a focus on economic sustainability and job creation, the program is designed to support youth-driven initiatives that contribute to the regional economy.
Eligible applicants can benefit from repayable loans tailored to their business needs, including demand and term loans, equity investments, or loan guarantees. The program emphasizes the importance of business management and training, ensuring that young entrepreneurs have the necessary skills to succeed in their ventures.
To qualify for the CBDC Youth Loan, applicants must meet specific criteria, including age requirements, business type, and economic viability. The program supports a wide range of businesses, both seasonal and year-round, covering expenses such as start-up costs, fixed assets, working capital, leasehold improvements, and franchise purchases.
CBDCs across Atlantic Canada play a crucial role in facilitating access to financial assistance beyond $150,000 for eligible borrowers, demonstrating a commitment to fostering entrepreneurship and economic growth in the region. Through the CBDC Youth Loan Program, young entrepreneurs can turn their innovative ideas into sustainable businesses that contribute to the local community and economy.
For aspiring young business owners looking to kickstart their entrepreneurial journey, the CBDC Youth Loan Program offers a valuable opportunity to access funding, resources, and support. By empowering youth with the tools and financial assistance they need, the program helps cultivate a new generation of successful entrepreneurs in Atlantic Canada.
