Open
Micro-Loan Program
Micro-loans for PEI entrepreneurs
Last Update: March 4, 2026
Funding available
$ 15,000
Timeline
- Open continuously
Location
Charlottetown, Prince Edward Island, Canada
Overview
Get up to $15,000 to meet your start-up or working capital needs with repayment terms up to 5 years.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase performance through digital transformation
- Optimize production processes
- Obtain certifications or accreditations
Eligible Funding
- Maximum amount : 15,000 $
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Retail trade
- Other services (except public administration)
- Public administration
Location
- Charlottetown
- Prince Edward Island
Legal structures
- For-profit business
- Sole proprietorship
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Newcomers to Canada
- Startups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
The Micro-Loan Program offers financial support to various entrepreneurial activities to boost economic growth in Prince Edward Island. These funds are targeted to assist new and existing businesses across different fields by providing necessary capital and resources.
- Support for trades graduates to acquire tools and equipment for new job opportunities.
- Assistance for newcomers in Canada to gain qualification recognition for returning to their previous professions.
- Investment in small-scale food production through the purchase of equipment and materials.
- Funding for start-up businesses with a robust business plan and entrepreneurial motivation.
- Financing for craft and giftware manufacturers to increase production during the winter months.
Eligibility
Who is eligible?
The Micro-Loan Program is designed to support entrepreneurs on Prince Edward Island in specific sectors and business situations, offering financial assistance for new and expanding endeavors.
- Trades: financial support for recent graduates or those entering a new trade field needing equipment or tools.
- Qualification Recognition: financial assistance for newcomers to Canada to cover costs for credential recognition, such as exams or professional fees.
- Small-scale Food Production: funds for growers, harvesters, and processors to enhance supply in communities through new equipment and materials.
- Business Start-up: funding for individuals with a strong business idea, entrepreneurial spirit, and a comprehensive business plan.
- Winter Production Financing: targeted support for craft and giftware manufacturers to boost winter production for peak selling periods.
Who is not eligible
Some types of companies may not be eligible for this grant. For example, companies engaged in illegal activities or those with a history of non-compliance may be excluded.
- Companies involved in illegal activities
- Companies with a history of non-compliance
Eligible expenses
The Micro-Loan Program on Prince Edward Island offers financial support to various entrepreneurial activities aimed at fostering local business growth. The eligible projects enable participants to acquire necessary tools, equipment, and certifications essential for their business ventures.
- Support for tradespeople who need new tools and equipment to start their careers.
- Assistance for newcomers requiring help with qualification recognition and professional fees.
- Investment in small-scale food production for equipment and materials to boost local food supply.
- Funding for start-up businesses with a viable business plan and entrepreneurial ambition.
- Financing for craft and giftware manufacturers to enhance winter production capabilities.
Eligible geographic areas
This Micro-Loan Program is specific to the geographical region of Prince Edward Island. It is designed to foster local entrepreneurship and support business development within this province.
- Eligible companies are those based in Prince Edward Island.
Additional information
Here are additional relevant details for this grant:
- Repayment terms allow flexibility with a maximum term of up to 5 years.
- Interest is calculated at TD Bank Prime rate plus an additional 4.5%.
Contacts
Frequently Asked Questions about the Micro-Loan Program Program
Here are answers to the most common questions about the Micro-Loan Program. 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 Micro-Loan Program?
Get up to $15,000 to meet your start-up or working capital needs with repayment terms up to 5 years.
How much funding can be received?
Micro-Loan Program Funds up to $15,000 of admissible expenses.
Who is eligible for the Micro-Loan Program program?
To be eligible for the Micro-Loan Program program, you must:
Applicants must provide a business plan and cash flow forecast.
Businesses must obtain necessary licenses, permits, and insurance as per Federal, Provincial, or Municipal regulations.
Applicants must be involved in eligible categories such as trades, qualification recognition, small-scale food production, business start-up, or winter production financing.
What expenses are eligible under Micro-Loan Program?
The Micro-Loan Program offers financial support to various entrepreneurial activities to boost economic growth in Prince Edward Island. These funds are targeted to assist new and existing businesses across different fields by providing necessary capital and resources. Support for trades graduates to acquire tools and equipment for new job opportunities.
Assistance for newcomers in Canada to gain qualification recognition for returning to their previous professions.
Investment in small-scale food production through the purchase of equipment and materials.
Funding for start-up businesses with a robust business plan and entrepreneurial motivation.
Financing for craft and giftware manufacturers to increase production during the winter months.
Who can I contact for more information about the Micro-Loan Program?
You can contact Government of Prince Edward Island (PEI) by email at financepei@gov.pe.ca or by phone at 902-368-6200.
Where is the Micro-Loan Program available?
The Micro-Loan Program program is available the province of Prince Edward Island.
Is the Micro-Loan Program a grant, loan, or tax credit?
Micro-Loan Program is a Loans and Capital investments