Impact Your Business — Start-Up Loans
Canada
Loans for entrepreneurs in urban Atlantic Canada
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- grant_single|timelineUnspecified
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Loans and Capital investments
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- grant_single|allIndustries
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- Impact Atlantic
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grant_card_status|open
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Get a low-interest loan of up to $25,000 to start a business in St. John's, Halifax, Moncton, Saint John, Fredericton or Charlottetown.
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This grant is available to companies in urban areas of Atlantic Canada. Eligibility focuses on fostering business growth within this specific region.
- Businesses located in urban areas of Atlantic Canada.
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$25,000
Expand a digital marketing agency focusing on local businesses
$25,000
Start an artisanal coffee shop focused on local coffee roasters
$25,000
Establish a community wellness center in St John's focusing on mental health services
$22,000
Launch an eco-friendly boutique specializing in sustainable clothing and accessories
$25,000
Create a new tech startup focusing on cybersecurity software development
$25,000
Expand a local organic farm to include an on-site farmer's market
grant_single_labels|admissibility
Eligibility for the Impact loan is determined by specific criteria related to the applicant's business status and geographical location.
- The applicant must be an entrepreneur or business owner residing in urban Atlantic Canada.
- The business must be categorized as a small or medium-sized enterprise.
- Start-up loans are available for entrepreneurs of all ages.
- Expansion financing is available for established business owners aged between 19 and 39.
grant_eligibility_criteria|who_can_apply
Entrepreneurs of all ages can apply for business start-up loans, making this opportunity available to those just beginning their entrepreneurial journey. Additionally, for expansion financing, business owners aged between 19 and 39 are eligible to apply. The program is designed to support both new and established businesses in urban Atlantic Canada.
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The Impact loan program aims to support entrepreneurial ventures and business growth in urban Atlantic Canada through financing and skill development opportunities. By providing low-interest loans and fostering business skills, these projects help entrepreneurs build successful and sustainable businesses.
- Financing for start-up businesses in urban Atlantic Canada.
- Expansion financing for existing businesses owned by individuals aged 19 to 39.
- Access to business skills development sessions including marketing, HR, accounting, and planning.
- Provision of flexible financing options for businesses with varying credit histories or unconventional business ideas.
- Ongoing business support and advisory services for entrepreneurs.
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There are evaluation and selection criteria for the Impact loan:
- Demonstrated need for financing and a viable business plan
- Evidence of entrepreneurial spirit and commitment to the business
- Potential for long-term business success and positive economic impact
- Ability to meet repayment terms and use funds responsibly
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- Step 1: Assess Eligibility
- Ensure the business is a small or medium-sized enterprise located in urban Atlantic Canada.
- Verify that the entrepreneur meets the age requirements for the specific financing option.
- Step 2: Gather Required Documentation
- Prepare a detailed business plan outlining your start-up or expansion strategy.
- Compile financial statements or forecasts to demonstrate business viability.
- Collect personal identification and proof of business location.
- Step 3: Complete Application Form
- Access the application form from the fund provider's official website.
- Fill out all required information accurately, ensuring all fields are completed.
- Step 4: Submit Application
- Review the application and attached documents for completeness and accuracy.
- Submit the application through the online portal or by mailing it to the specified address.
- Obtain a tracking or confirmation number to verify submission.
- Step 5: Follow-up
- Check emails or the application portal for any requests for additional information.
- Prepare for a potential interview or discussion with the funding body.
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Here are additional relevant details for this grant:
- Impact offers ongoing business support and advice beyond just financial assistance.
- Training sessions cover various topics, aimed at enhancing business competencies.
- The program is open to varied credit histories and unconventional business ideas.
Apply to this program
Boost Your Business Initiatives with The Impact Loan
The Impact Loan is designed to support small and medium-sized businesses in urban Atlantic Canada, offering low-interest loans up to $25,000 with flexible repayment options. This financial program not only provides loans for business start-ups and expansions but also connects entrepreneurs to essential business skills development resources.
In-Depth Overview of The Impact Loan and Its Support for Entrepreneurs
The Impact Loan program is a unique financial solution aimed at equipping small and medium-sized businesses in urban Atlantic Canada with the monetary and educational tools they need to succeed. Through this initiative, Impact helps both budding entrepreneurs and established owners enhance their businesses, regardless of their current economic or credit situations. By offering low-interest loans that extend up to $25,000, this program emphasizes affordability and accessibility. One of the standout features of the Impact Loan is its flexibility, allowing for easy application processes and forgiving repayment structures, ensuring that recipients can focus on growing their businesses without the burden of onerous financial obligations.
Moreover, the program is not just about financial aid. It represents a holistic approach to business growth and sustainability. Recipients benefit from an array of skills development opportunities which are crucial for navigating the complex landscape of modern entrepreneurship. With training sessions that cover vital areas such as marketing strategy, human resources, accounting, and business planning, the Impact Loan prepares entrepreneurs not just to launch their ventures, but to sustain and expand them successfully.
This integration of financial support with educational resources is particularly beneficial for young entrepreneurs aged between 19 and 39, who can leverage this combination to realize expansion ventures. The Impact Loan is also notable for its ability to accommodate a range of business ideas and credit histories, making it an adventurous choice for those whose projects might not fit the conventional mould required by traditional banks. This adaptability is a testament to the program's commitment to fostering diversity and innovation in the business ecosystem of Atlantic Canada.
For businesses in the start-up phase, the Impact Loan offers a springboard to test and refine business ideas with minimal financial constraints. It provides the necessary capital to handle initial business expenses such as purchasing equipment, securing operational locations, and managing early-stage marketing efforts. Established businesses looking to expand can also benefit from the extension of funds to scale up operations, enter new markets, or diversify the product and service ranges.
Ultimately, the Impact Loan stands out for its dual focus on immediate financial support and long-term entrepreneurial success. By tailoring its resources to meet the varied needs of Canadian entrepreneurs, it not only stimulates economic growth but also contributes to building a resilient community of forward-thinking business leaders. This comprehensive approach ensures that all recipients have the potential to maximize their business impact both locally within Atlantic Canada and beyond.
