BBN Labs — Better Business Network

CBDC General Business Loan

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Get up to $150,000 in repayable financing to expand your rural Atlantic Canada business or buy an existing one. This loan offers competitive terms for one to ten years, for businesses that cannot get a traditional bank loan.

Know a business owner this could help?
“Loans up to $150,000* may be available to eligible applicants.”

From the official program page

At a glance

Maximum supportLoans up to $150,000 may be available to eligible applicants (in certain circumstances CBDCs can provide financial assistance exceeding $150,000 per eligible borrower). All loans are repayable with competitive repayment terms and interest rates. Financing can include a demand or term loan, a loan guarantee, or equity investment. Loans can be from one year to ten years.
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 run a business in rural Atlantic Canada and need funds to expand, cover working capital, or purchase an existing operation.
  • You have been turned down by traditional banks or find it hard to get standard financing because of your size or location.
  • You can show your business is economically viable and has a plan to create or keep local jobs.

Probably not the right fit if

  • You are located outside of rural Atlantic Canada since this program is strictly for that region.
  • You are looking for a grant or free money because this is a loan that must be repaid with interest.
  • You cannot prove your business is economically viable or show a clear path to creating or maintaining employment.

How much you'd realistically get

Up to $150,000 is standard, though amounts exceeding this cap may be available in certain circumstances.

What may be supported

  • Start-up costs
  • Purchase of land and buildings
  • Fixed assets and machinery
  • Vehicles strictly for business use
  • Franchise purchases
  • Leasehold improvements
  • Working capital

How applying works

Effort: moderateYou must contact your local CBDC office for a consultation and provide documentation to prove economic viability and employment impact.

  1. 01Visit https://cbdc.ca/locations/ to find your local CBDC office.
  2. 02Contact your local CBDC to schedule a consultation and discuss your financing needs.
  3. 03Prepare documentation to demonstrate economic viability and employment creation/maintenance plans.
  4. 04Submit your application through the local CBDC office.
  5. 05Review the loan terms, including interest rates and repayment schedule, before accepting.

Who to ask: Contact your local CBDC office through https://cbdc.ca/locations/ or https://cbdc.ca/contact/.

Documents commonly required

  • Business plan demonstrating economic viability
  • Financial statements or projections
  • Proof of location in rural Atlantic Canada
  • Details on employment creation or maintenance plans

What to know before you count on it

  • This is a repayable loan, not a grant; you must pay back the principal plus competitive interest over one to ten years.
  • Eligibility requires proof of economic viability and a commitment to employment creation or maintenance.
  • Financing is arranged through local CBDC offices, so approval and terms may vary by location.
  • The official page does not list interest rates or when the money is paid out. Ask your local CBDC before you apply.

What are your odds?

Approval depends on demonstrating economic viability and meeting local CBDC criteria; it is not guaranteed.

Frequently asked questions

Is this money a grant or a loan?

It is a repayable loan. You must pay back the principal plus interest over a term of one to ten years.

What is the maximum amount I can borrow?

Loans up to $150,000 are standard, but amounts exceeding this may be available in certain circumstances. Confirm specifics with your local CBDC.

Who administers this program?

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

Can I use this loan for working capital?

Yes, working capital is an eligible use for this loan.

What you can combine it with

This loan can potentially be combined with other CBDC programs like the Innovation Loan or First-Time Entrepreneur Loan, but confirm eligibility with your local office.

Worth reading before you apply

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