BBN Labs — Better Business Network

CBDC First-time Entrepreneur Loan

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Get up to $150,000 in repayable financing to launch or buy a business in rural Atlantic Canada. This loan for first-time entrepreneurs comes from local CBDCs.

Know a business owner this could help?
“The CBDC First Time Entrepreneur Loan offers up to $150,000* to qualified borrowers in Atlantic Canada.”

From the official program page

At a glance

Maximum supportUp to $150,000 to qualified borrowers (in certain circumstances CBDCs can provide financial assistance exceeding $150,000 per eligible borrower). Loans are repayable with competitive interest rates and repayment terms. Financing may be term or demand loans, a loan guarantee, or equity investments.
Issued byCommunity Business Development Corporations
Administered byLocal Community Business Development Corporations (CBDCs) - a network of 41 CBDCs and 4 Associations across Atlantic Canada (Atlantic Association of CBDCs)
RegionAtlantic Canada

Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.

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Is this for you?

  • You are a first-time entrepreneur living in a rural area of Atlantic Canada.
  • You are starting a new business or purchasing an existing one.
  • You need capital for start-up costs, equipment, working capital, or leasehold improvements.

Probably not the right fit if

  • You are not a first-time entrepreneur or do not live in rural Atlantic Canada.
  • You are looking for a grant or non-repayable funding; this is a repayable loan.
  • You are located outside the Atlantic Canada region (e.g., Ontario, Quebec, or Western Canada).

How much you'd realistically get

Up to $150,000 for qualified borrowers, with potential for higher amounts in certain circumstances.

What may be supported

  • Business start-up costs
  • Purchase of an existing business
  • Fixed assets such as machinery, equipment, and vehicles for business use
  • Working capital for operations
  • Buildings, land, furniture, fixtures, and leasehold improvements
  • Franchise purchases

How applying works

Effort: moderateYou must contact a local CBDC business advisor for a consultation and arrange financing through them.

  1. 01Identify your local CBDC office using the location finder at cbdc.ca/locations.
  2. 02Contact the CBDC business advisor to schedule a consultation.
  3. 03Prepare your business idea and financial details for the advisor's review.
  4. 04Work with the advisor to arrange the financing structure (term loan, demand loan, guarantee, or equity).
  5. 05Submit the required application materials through your local CBDC.

Who to ask: Contact your local CBDC office through the Locations or Contact page on the CBDC website (cbdc.ca).

Documents commonly required

  • Business plan or proposal for the start-up or acquisition.
  • Proof of residence in a rural area of Atlantic Canada.
  • Financial statements or personal financial information for credit assessment.
  • Details of the business structure (sole proprietorship, company, or partnership).

What to know before you count on it

  • This is a repayable loan. The official page does not list the interest rates or repayment terms. Ask your local CBDC before you apply.
  • Financing may take the form of a term loan, demand loan, loan guarantee, or equity investment, depending on your situation.
  • You must be a first-time entrepreneur residing in a rural area of Atlantic Canada to qualify.
  • The official page does not list deadlines or intake periods. Ask your local CBDC office if funding is available.

What are your odds?

Approval depends on your business plan, creditworthiness, and the assessment of your local CBDC advisor.

Frequently asked questions

Is this money a grant or a loan?

It is a loan that you must repay with interest. It is not a grant.

Who administers this program?

Local Community Business Development Corporations (CBDCs) administer the program across Atlantic Canada.

Can I use this to buy an existing business?

Yes. The loan can help you buy an existing business. It can also pay for start-up costs and fixed assets.

What are the interest rates?

Ask your local CBDC for the current rate and repayment terms before you apply.

More funding by what it pays for

Funding for Training

Grants to help you train staff and adopt new digital tools.

What you can combine it with

This program is distinct from the CBDC General Business Loan, Innovation Loan, and Youth Loan; confirm with your advisor if you can combine support.

Worth reading before you apply

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Page last updated ; status and deadline checked . Source: official program page.