How much funding can be received?

Funds up to 25000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Impact Your Business — Start-Up Loans?

Impact Your Business — Start-Up Loans is funded by Impact Atlantic

Impact Your Business — Start-Up Loans

Canada

Loans for entrepreneurs in urban Atlantic Canada

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Loans and Capital investments

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Impact Atlantic

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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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There are diverse projects and activities eligible for the Impact loan, such as:

Business start-up funding
Expansion financing for established businesses

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$25,000

Charlottetown

Expand a digital marketing agency focusing on local businesses

$25,000

Saint John

Start an artisanal coffee shop focused on local coffee roasters

$25,000

St. John's

Establish a community wellness center in St John's focusing on mental health services

$22,000

Halifax

Launch an eco-friendly boutique specializing in sustainable clothing and accessories

$25,000

Fredericton

Create a new tech startup focusing on cybersecurity software development

$25,000

Moncton

Expand a local organic farm to include an on-site farmer's market

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Eligibility criteria for the Impact loan:

Entrepreneurs of all ages can apply for a business start-up loan.
Established business owners between 19 and 39 years old can avail of expansion financing.
Available for small and medium-sized businesses in urban Atlantic Canada.

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There are specific types of companies eligible for the Impact loan:

Small and medium-sized businesses in urban Atlantic Canada
Entrepreneurs of all ages for start-up loans
Established business owners aged 19 to 39 for expansion financing

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Eligible expenses for this grant include:

Business start-up costs
Expansion financing
Marketing strategy development
Human resources training
Accounting services
Business planning expenses

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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: Complete the application form online with all required information
- Content: Fill out the application form with personal and business details
- Implications: Ensures all necessary information is provided for the loan application process
Step 2: Submit the application for review by Impact
- Content: Send the completed application form to Impact for assessment
- Implications: Initiates the evaluation process to determine eligibility for the loan
Step 3: Attend training sessions to gain essential business knowledge
- Content: Participate in Impact's training sessions covering various business topics
- Implications: Enhances business skills and understanding to support entrepreneurial success
Step 4: Receive approval and funding from Impact
- Content: Upon approval, receive the loan funds from Impact
- Implications: Access financial support to start or expand your business

Apply to this program

Impact Grant Overview

Understanding the Impact Grant for Business Growth

The Impact grant is a valuable opportunity for small and medium-sized business owners in urban Atlantic Canada to secure funding for their ventures. With loans of up to $25,000, entrepreneurs can access the financial support needed to start or expand their businesses. The application process is efficient and tailored to meet the unique needs of business owners, offering flexible repayment terms and valuable business skills development opportunities. The Impact grant aims to empower entrepreneurs of all ages by providing them with the necessary resources to succeed in the competitive business landscape. Through this grant, businesses can receive not only financial support but also valuable training sessions to enhance their business acumen. Whether it's learning about marketing strategies, human resources management, or financial planning, the Impact grant equips entrepreneurs with the knowledge and tools needed to thrive. One of the key advantages of the Impact grant is its flexibility and adaptability to different business models and credit histories. Unlike traditional bank loans, Impact considers a wide range of business ideas and credit profiles, making it a more accessible option for aspiring entrepreneurs. Furthermore, the grant offers ongoing business support and advice, ensuring that recipients have the guidance they need to navigate the complexities of running a successful business. The Impact grant is not just a financial boost; it's a lifeline for entrepreneurs looking to realize their business goals and aspirations. By providing support beyond just funding, Impact sets itself apart as a comprehensive resource for business owners seeking to make a meaningful impact on the Canadian business landscape. With its focus on empowerment, education, and flexibility, the Impact grant acts as a catalyst for entrepreneurial success in urban Atlantic Canada.