CBDC Immigrant Loan program: Pilot Project
Get up to $20,000 in repayable loan capital to launch or grow your business in the CBDC region. This pilot is exclusively for temporary residents, so permanent residents do not qualify.
“CBDC offers up to $20,000 in loans for immigrants looking to start a business, with access to training, support, and flexible repayment options.”
From the official program page
Before you spend any money
This pilot has no fixed deadline, but its total budget is $250,000. Apply early, because the money may run out.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You are a temporary resident aged 19 or older who does not yet have permanent resident status.
- You operate or plan to operate your business within the CBDC region, such as the Cape Breton Regional Municipality.
- You need funds for start-up costs, fixed assets, or working capital and can afford to repay a loan.
Probably not the right fit if
- You already hold permanent resident status, as this pilot is strictly for temporary residents.
- Your business is located outside the CBDC service region.
- You cannot afford to repay the loan with interest, since this is a repayable loan and not a grant.
How much you'd realistically get
Up to $20,000 per borrower, subject to the remaining balance of the $250,000 pilot fund.
What may be supported
- Start-up costs for new businesses
- Purchase of fixed assets (equipment, furniture)
- Working capital for ongoing operations
- Seasonal business inventory or staffing
How applying works
Effort: moderateYou must submit a completed application to the local CBDC office and likely provide business plans or financial projections.
- 01Confirm you are a temporary resident operating in the CBDC region.
- 02Prepare your business details, including start-up costs or working capital needs.
- 03Contact the local CBDC office or email patricia.macneil@cbdc.ca for the Coastal Business pilot.
- 04Submit the completed application package.
- 05Wait for review and approval; confirm repayment terms before signing.
Who to ask: CBDC general: 1-888-303-2232; Coastal Business pilot applications: patricia.macneil@cbdc.ca
Documents commonly required
- Completed application form
- Proof of temporary resident status
- Business registration details
- Financial projections or budget for the requested amount
What to know before you count on it
- Interest is charged at prime rate + 3%, which can be higher than standard business loans.
- The official page does not list the repayment term or schedule. Ask your local CBDC office before you apply.
- Funding is capped at $250,000 for the entire pilot; once spent, the program may close.
- You must be a temporary resident; permanent residents are excluded from this specific pilot.
What are your odds?
Approval depends on business viability and the money left in the pilot fund; it is not guaranteed.
Frequently asked questions
Is this money taxable?
Loan proceeds are generally not taxable income, but interest payments may be tax-deductible. Consult a tax professional.
What is the repayment period?
Ask your local CBDC office. Confirm the repayment terms before you sign the loan.
Can I use this for seasonal businesses?
Yes, seasonal and part-time businesses are acceptable under this pilot.
Who administers this program?
It is administered by Community Business Development Corporation (CBDC) - Coastal Business, with support from ACOA.
What you can combine it with
You may be eligible for other CBDC loans (e.g., General Business Loan up to $150,000) if you do not qualify for this pilot or need more capital.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.