Impact Your Business — Start-Up Loans

Q: How much funding can be received?

Impact Your Business — Start-Up Loans 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 — Start-Up Loans a grant, loan, or tax credit?

Impact Your Business — Start-Up Loans is a Loans and Capital investments

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

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

Q: Who is eligible for the Impact Your Business — Start-Up Loans program?

To be eligible for the Impact Your Business — Start-Up Loans program, you must: • Entrepreneurs of all ages can apply for a business start-up loan. • Established business owners between 19 and 39 can apply for expansion financing. • Applicants must have a business in urban Atlantic Canada.

Q: Who can I contact for more information about the Impact Your Business — Start-Up Loans?

You can contact Impact Atlantic.

Q: Where is the Impact Your Business — Start-Up Loans available?

The Impact Your Business — Start-Up Loans program is available the province of Nova Scotia.

Q: Are startups eligible for the Impact Your Business — Start-Up Loans program?

Yes, startups are eligible to apply for the Impact Your Business — Start-Up Loans program.

Last Update: April 3, 2025

NS, Canada

Loans for 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 start a business in St. John's, Halifax, Moncton, Saint John, Fredericton or Charlottetown.

Financing terms and conditions

This grant offers flexible financing modalities designed to aid small and medium-sized businesses in urban Atlantic Canada. The financing terms are structured to support both start-up ventures and expansion projects with favorable conditions for repayment.

Provision of low-interest loans up to $25,000.
Flexible repayment terms with no penalty for early repayment of the principal amount.
Supports applicants with varied credit histories or unconventional business plans.

Activities funded

Start-up activities for new businesses initiated by entrepreneurs of all ages.
Business expansion projects for established owners aged 19 to 39 seeking growth financing.
Initiatives that may involve innovative or unconventional business ideas.
Participation in business skills development and training sessions offered by Impact.

Examples of admissible projects:

$ 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

Eligibility

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.

Who is eligible?

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.

Eligible expenses

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.

Eligible geographic areas

This grant targets businesses operating within urban areas of Atlantic Canada, allowing them to innovate and grow effectively. Urban Atlantic Canada is specifically highlighted to foster business developments in these regions.

Urban areas in Newfoundland and Labrador.
Urban regions in Prince Edward Island.
Nova Scotia's urban centres.
Urban parts of New Brunswick.

Selection criteria

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

How to apply

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.

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.

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.

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.

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.

Additional information

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

Frequently Asked Questions about the Impact Your Business — Start-Up Loans Program

Here are answers to the most common questions about the Impact Your Business — Start-Up Loans. 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 — Start-Up Loans?

How much funding can be received?

What expenses are eligible under Impact Your Business — Start-Up Loans?

Impact Your Business Start-Up Loans support initiatives that facilitate the growth and development of small and medium-sized businesses in urban Atlantic Canada. The eligible projects include activities that focus on new business creation and expansion. Start-up activities for new businesses initiated by entrepreneurs of all ages. Business expansion projects for established owners aged 19 to 39 seeking growth financing. Initiatives that may involve innovative or unconventional business ideas. Participation in business skills development and training sessions offered by Impact.