Small Business Loan Guarantee Program

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