Small Business Loan Guarantee Program

The program offers loan guarantees and financing for various business purposes in Nova Scotia. It is a joint initiative by the Nova Scotia Co-operative Council, Atlantic Central, local credit unions, and the Province of Nova Scotia.
  • Nova Scotia Co-operative Council
Overview of the Small Business Loan Guarantee Program program:

The Small Business Loan Guarantee Program in Nova Scotia offers financial support to small businesses, including start-ups and social enterprises. The program provides loans with a guarantee of up to 90% by the province, with a maximum loan amount of $500,000. It is available to various business structures, including not-for-profits, co-operatives, and private businesses. To qualify, businesses must be based in Nova Scotia and members of a local Credit Union. The program aims to facilitate access to capital for businesses that have a positive social or economic impact on their communities.

Eligibility criteria of the Small Business Loan Guarantee Program program:
  • Type of Enterprise:
  • Start-ups
  • Growth and expansions
  • Business Structure:
  • Not-for-profit organizations
  • Co-operatives
  • Private businesses
  • Impact:
  • Must have a positive impact on a social or environmental issue
  • Should address a community need or maximize a community opportunity
  • Location and Membership:
  • Must be registered and based in Nova Scotia
  • Can be new or existing members of a credit union
  • Must be a member of a local Credit Union (i.e., have a bank account) at the time of fund disbursement
  • Good Standing:
  • Applicants must be in good standing with the Canada Revenue Agency
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