CBDC General Business Loan
The CBDC General Business Loan provides flexible commercial financing to businesses and entrepreneurs in Atlantic Canada who need funds for equipment, facility upgrades, or business expansion when traditional lenders are unavailable.
- Community Business Development Corporation (CBDC)
Overview of the CBDC General Business Loan program:
Benefits of the CBDC General Business Loan program:
- Loans up to $150,000* may be available to eligible applicants. All loans are repayable and offer competitive repayment terms and interest rates. Financing can include a demand or term loan, a loan guarantee, or equity investment.
- Loans will be secured, and can be from one to ten years, giving you the chance to develop your business while being free from financial burden.
Eligibility criteria of the CBDC General Business Loan program:
- CBDCs General Business Loan may be offered to businesses that meet the following qualifications:
- Entrepreneurs or businesses purchasing a new or existing company in rural Atlantic Canada;
- Expanding an existing business;
- An existing company in need of working capital;
- Both year-round and seasonal businesses are eligible;
- Eligible business expenses may include: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. In some cases, vehicles strictly for business uses may also qualify;
- Franchise purchases and Leasehold improvements are also eligible;
- Potential borrowers must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessit
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