CBDC Youth Loan
Repayable loans to start or grow a business in rural Atlantic Canada, for entrepreneurs aged 18 to 34. Loans are up to $150,000, and CBDCs can lend more in certain circumstances. This is a loan you must repay.
“Please note: In certain circumstances, CBDCs can provide financial assistance that exceeds $150,000 per eligible borrower.”
From the official program page
Before you spend any money
The official page does not list when or how the loan money is paid out. Ask your local CBDC before you apply.
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 between 18 and 34 years old and running or starting a business in rural Atlantic Canada.
- You need funds for startup costs, equipment, working capital, or leasehold improvements.
- You hold majority control as a sole proprietor, in a partnership, or as a limited company.
Probably not the right fit if
- You are outside the 18 to 34 age range or your business is not located in rural Atlantic Canada.
- You are looking for a grant or free money, since this is a repayable loan with interest.
- Your business plan does not show a clear path to economic viability or job creation.
How much you'd realistically get
Ask your local CBDC how much you can borrow for your plan, and at what interest rate.
What may be supported
- Start-up costs
- Fixed assets
- Working capital
- Leasehold improvements
- Franchise purchases
- Acquiring assets of a previous business
- Cost of business management and training
How applying works
Effort: moderateYou must contact your local CBDC for a consultation and arrange financing through them.
- 01Verify you are aged 18-34 and located in rural Atlantic Canada.
- 02Prepare a business plan showing economic viability and employment creation.
- 03Contact your local CBDC office via https://cbdc.ca/locations/ for a consultation.
- 04Arrange financing through the local CBDC as directed.
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
- Proof of age and residency in rural Atlantic Canada
- Financial projections for employment creation
- Any other documents your local CBDC asks for
What to know before you count on it
- This is a repayable loan, not a grant, so you must repay it with interest.
- Eligibility is strictly limited to youth aged 18-34 in rural Atlantic Canada.
- The official page does not list interest rates or repayment terms. Ask your local CBDC before you apply.
- Your business must not have a negative impact on existing area businesses.
What are your odds?
Approval depends on whether your business is economically viable and creates jobs. Ask your local CBDC what they look for.
Frequently asked questions
Is this money a grant or a loan?
It is a repayable loan with competitive interest rates and repayment terms.
What is the maximum loan amount?
Loans go up to $150,000. In certain circumstances, a CBDC can lend one eligible borrower more. Ask your local CBDC what limit applies to your plan.
Who administers this program?
Local Community Business Development Corporations (CBDCs) run the program across Atlantic Canada.
Can I use this for working capital?
Yes, working capital is an eligible use of funds.
More funding by what it pays for
What you can combine it with
Related programs include the CBDC General Business Loan, Innovation Loan, and First-Time Entrepreneur Loan.
Worth reading before you apply
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.