Social Enterprise Loan
Social Enterprise Loan is a financing and loans offered by CBDC Blue Water for entrepreneurs and small businesses in Atlantic Canada (Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador).
Loans up to $300,000 for non-profits, charities, cooperatives, or societies in rural HRM to support revenue-generating business operations, with competitive interest rates and loan amortizations of up to ten years.
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Program details
CBDC Blue Water's Social Enterprise Loan is available to non-profits (including charities), cooperatives, or societies in need of business support in the form of a loan or loan guarantee. Financing is used to buy assets, renovate existing ones, or expand a social enterprise. Loans are specifically intended to provide financial support for revenue-generating business operations of officially registered non-profit organizations. Loan amortizations of up to ten years are available based on the life expectancy of acquired assets.
Who qualifies
Both new and existing social enterprise businesses are eligible. The social enterprise may be seasonal or year-round. Must be located in rural areas of HRM. May be used to start-up a new social enterprise or expand, renovate, or upgrade an existing one. The business operations should provide a realistic expectation of economic viability, ensure sound business practices, and facilitate job creation and maintenance.
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