Impact Your Business — Expansion Financing

Q: How much funding can be received?

Impact Your Business — Expansion Financing Funds up to 25000% of admissible expenses.

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: Is the Impact Your Business — Expansion Financing a grant, loan, or tax credit?

Impact Your Business — Expansion Financing is a Loans and Capital investments

Q: Who are the financial supporters of the Impact Your Business — Expansion Financing?

Impact Your Business — Expansion Financing is funded by Impact Atlantic

Q: Who is eligible for the Impact Your Business — Expansion Financing program?

To be eligible for the Impact Your Business — Expansion Financing program, you must: • Businesses must be small or medium-sized enterprises located in urban Atlantic Canada.

Q: Who can I contact for more information about the Impact Your Business — Expansion Financing?

You can contact Impact Atlantic.

Q: Where is the Impact Your Business — Expansion Financing available?

The Impact Your Business — Expansion Financing program is available the province of Nova Scotia.

Q: Are startups eligible for the Impact Your Business — Expansion Financing program?

Yes, startups are eligible to apply for the Impact Your Business — Expansion Financing program.

Last Update: April 3, 2025

NS, Canada

Loans for young entrepreneurs in urban Atlantic Canada

At a glance

Eligible Funding

Max. $25,000

Timeline

Unspecified

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Funds Providers

Impact Atlantic

Program status

Open

Overview

Get a low-interest loan of up to $25,000 to grow or expand your business if you are a young entrepreneur between 19 and 39 years of age in St. John's, Halifax, Moncton, Saint John, Fredericton or Charlottetown.

Financing terms and conditions

This grant provides attractive financing modalities aimed at supporting small and medium-sized businesses to grow and achieve their goals in urban Atlantic Canada. The loan structure is designed to offer flexibility and support to varied business types, ensuring entrepreneurs have access to the financial resources they need.

Low-interest loans of up to $50,000 available for qualified businesses.
Flexible repayment terms to accommodate the cash flow of different businesses.
No penalties for early repayment of the principal amount.

Activities funded

Facilitation of business expansion through low-interest financing.
Support for innovative business ideas that may not qualify for traditional bank loans.
Provision of business skills development opportunities through training sessions.
Assistance in building sustainable business practices with ongoing support and advice.
Development of marketing strategies and human resources plans.
Improvement of accounting and planning practices for business growth.

Examples of admissible projects:

$ 25,000

Opening a specialty coffee shop in downtown St John's with a focus on local artisan products

$ 25,000

Establishing a community arts center to host workshops and exhibitions for local artists

$ 25,000

Starting a delivery-only, healthy meal prep service catering to busy professionals

$ 25,000

Launching an online vegan skincare brand based with eco-friendly packaging

$ 25,000

Opening a sustainable fashion boutique selling eco-friendly clothing and accessories

$ 25,000

Developing an educational mobile app focused on STEM learning for high school students

Eligibility

Eligibility for this loan program is determined by specific criteria related to the applicant's age, location, and business status.

The applicant must be an entrepreneur located in urban Atlantic Canada.
For start-up loans, entrepreneurs of any age can apply.
For expansion financing, applicants must be established business owners aged between 19 and 39.

Who is eligible?

Entrepreneurs of all ages in urban Atlantic Canada are eligible to apply for the Impact loan to start a new business. Additionally, established business owners aged between 19 and 39 years can apply for expansion financing. Candidates are individuals seeking to launch a business or enhance their current operations through flexible financial solutions offered by Impact.

Eligible expenses

This grant supports young entrepreneurs and established business owners in urban Atlantic Canada in their efforts to start or expand their businesses. The eligible activities focus on providing financial resources and skills development to help businesses thrive.

Start-up funding for new businesses initiated by entrepreneurs of all ages.
Expansion financing for established businesses owned by individuals aged between 19 and 39.
Access to business skills development sessions for loan recipients.

Eligible geographic areas

This grant is available to companies in urban Atlantic Canada. The funding aims to support regional business growth and skills development.

Businesses located in urban Atlantic Canada.

Selection criteria

The evaluation and selection criteria for projects under this grant are not explicitly detailed in the provided context, and therefore cannot be outlined in specific terms.

How to apply

Determine Eligibility

Review the age and business criteria for either the start-up or expansion loan category.
Ensure your business is located in urban Atlantic Canada.

Prepare Application Documents

Gather necessary documentation such as business plans and financial statements.
Prepare a detailed description of your business idea or expansion plan.

Contact Impact for Application Form

Reach out to Impact via their customer service contact to request the official application form.
Clarify any questions regarding the application process and requirements.

Complete Application Form

Fill out the application form with accurate business and personal details.
Include all required documentation in the application package.

Submit Application

Submit the completed application form and accompanying documents to Impact by email or postal mail, ensuring receipt before any deadlines.
Verify the submission with a follow-up call or email if confirmation is not received.

Attend Interview or Provide Additional Information

Be prepared to attend an interview or provide additional information if requested by Impact.

Application Review Process

Wait for Impact to review your application and decide on your eligibility for the loan.

Receive Loan Offer and Accept Terms

If approved, review the loan offer and accept the terms and conditions.
Sign any agreements and provide any final documentation if requested.

Additional information

Here are additional relevant details for this grant:

Impact loans offer more flexibility than traditional bank loans, accommodating varied credit histories and unconventional business ideas.
Impact clients have access to ongoing business support and advisory services throughout their entrepreneurial journey.
Training sessions offered by Impact cover essential business topics like marketing strategy, human resources, accounting, and planning.
The application process is designed to be fast and straightforward, minimizing delays for entrepreneurs eager to advance their business goals.
There is no penalty for early repayment of the principal, providing financial flexibility for borrowers.

Apply to this program

Frequently Asked Questions about the Impact Your Business — Expansion Financing Program

Here are answers to the most common questions about the Impact Your Business — Expansion Financing. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.

What is the Impact Your Business — Expansion Financing?

How much funding can be received?

What expenses are eligible under Impact Your Business — Expansion Financing?

This grant primarily supports the expansion and growth of small and medium-sized businesses in urban Atlantic Canada. It is intended to provide financial assistance to help businesses achieve their goals and enhance their operational capabilities. Facilitation of business expansion through low-interest financing. Support for innovative business ideas that may not qualify for traditional bank loans. Provision of business skills development opportunities through training sessions. Assistance in building sustainable business practices with ongoing support and advice. Development of marketing strategies and human resources plans. Improvement of accounting and planning practices for business growth.