BBN Labs — Better Business Network

Impact Loan Program (CBDC)

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Get up to $50,000 in low-interest financing to launch or grow your Atlantic business. This is a repayable loan delivered through local CBDCs, and offerings vary by region, so confirm rates and terms with your local office.

Know a business owner this could help?
“The Impact Loan Program offers up to $50,000 in low-interest financing with flexible terms to help entrepreneurs in Charlottetown, Stratford, Cornwall grow their businesses.”

From the official program page

At a glance

Maximum supportRepayable loans of up to $50,000; low interest rates with flexible repayment terms; no penalty for early repayment. Delivered per-region by participating CBDCs (ACOA-funded); offerings vary by CBDC region.
Issued byImpact Atlantic
Administered byCommunity Business Development Corporations (CBDCs), delivered under the Impact Atlantic brand (CBDCs are supported by the Atlantic Canada Opportunities Agency / ACOA)
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 small or medium business in an urban area of New Brunswick, Newfoundland and Labrador, Nova Scotia, or Prince Edward Island.
  • You need capital to start a new venture or expand your existing operations.
  • You have a viable business plan or credit history, even if you do not have significant assets for collateral.

Probably not the right fit if

  • You are located in rural Atlantic Canada or outside the Atlantic provinces.
  • You are looking for a grant or non-repayable funding, as this is a loan that must be repaid with interest.
  • You need funds for purposes explicitly excluded by your local CBDC, since specific exclusions vary by location.

How much you'd realistically get

Up to $50,000.

What may be supported

  • Business start-up costs.
  • Business expansion activities.
  • Equipment purchases for new or expanding operations.
  • Working capital for start-up or expansion phases.

How applying works

Effort: moderateYou must apply through your local CBDC, which may require a business plan and financial projections.

  1. 01Identify the participating Community Business Development Corporation (CBDC) serving your urban area.
  2. 02Prepare your business plan and financial projections, as these are typically required for loan applications.
  3. 03Contact your local CBDC office or visit cbdc.ca to start the application process.
  4. 04Submit your application and required documents to the CBDC for review.
  5. 05Await approval and disbursement before incurring any costs.

Who to ask: Via local CBDC office; example contact for Central PEI: info.centralpei@cbdc.ca (find your local CBDC office at cbdc.ca)

Documents commonly required

  • Business plan or expansion proposal.
  • Financial projections or historical financial statements.
  • Proof of business registration or incorporation.
  • Personal and business credit information.

What to know before you count on it

  • Interest is charged at Prime + 2%, which varies by location and CBDC; confirm the exact rate with your local office.
  • Repayment terms are flexible but not specified on the official page; confirm the duration and monthly obligations with your CBDC.
  • The program is delivered through participating Community Business Development Corporations (CBDCs), so availability and specific criteria may vary by your urban area.
  • The official page does not list a minimum loan amount. Ask your local CBDC before you apply.

What are your odds?

Approval depends on your local CBDC's assessment of your business viability and credit history; flexible criteria help but do not guarantee funding.

Frequently asked questions

Is this a grant or a loan?

It is a loan. You must repay the principal plus interest.

Do I need collateral?

No. The program states no down payment, collateral, or security is required.

What is the interest rate?

The rate is Prime + 2%, but it can vary by location and CBDC. Confirm the exact rate on the official page or with your local CBDC.

Can I pay it off early?

Yes. There is no penalty for early repayment of the principal.

What you can combine it with

This loan can potentially be combined with other CBDC programs like the Innovation Loan or Urban Main Street Loan Initiative, but confirm eligibility with your CBDC.

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