Youth Loan
Youth 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).
Repayable loan for young entrepreneurs aged 18-34 to access capital for business start-up, expansion, or modernization in rural HRM, with competitive interest rates and flexible repayment terms.
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Program details
The Youth Loan provides young entrepreneurs access to capital for business start-up, expansion, or modernization. It is available as a repayable loan with competitive interest rates and repayment terms. CBDC Blue Water also helps young entrepreneurs cover the cost of business management and other training. Loans may be for start-up costs, fixed assets, and/or working capital. Leasehold improvements and franchise purchases also qualify. May be used to acquire assets of a previous business at arm's length at or below current market value.
Who qualifies
Must be between ages 18-34. Eligible for business start-up, modernization, or expansion. Seasonal and year-round businesses qualify. Eligible borrowers may be a sole proprietorship, limited company, or partnership (majority of care and control must reside with the new entrepreneur). The intended business operations must not have a negative impact on existing area businesses. The borrower's business should have a reasonable expectation of economic viability and employment creation/maintenance.
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