CBDC General Business Loan
Business is booming and you need funding for an expansion of your existing premises or have to construct a new building. Perhaps it’s time to purchase new equipment and additional materials in order to fulfill increased customer demand for your product. Where can you go to make your plans a reality? To your local Community Business Development Corporation (CBDC) that’s where! The CBDC knows firsthand that arranging financing for expansion or the purchase of an existing business can sometimes be difficult through regular financial institutions. That’s why we’ve created the CBDC General Business Loan which is our most flexible business loan product.
Loans for Businesses and Entrepreneurs in Atlantic Canada
From small businesses to even larger ones, there are many times when a business may need a loan. Perhaps you need to procure new machinery or equipment? Maybe it’s time to upgrade your facilities or buildings. Or perhaps a loan is the only way for you to improve or expand your business to tap new market opportunities. Banks and other traditional lending institutions can often be unavailable to you. At the Community Business Development Corporation (CBDC) we might be able to help! The most flexible business loan we offer, the CBDC General Business Loan was made just for these situations.
HOW CAN WE HELP?
Loans up to $150,000* may be available to eligible applicants. All loans are repayable and offer competitive repayment terms and interest rates. Financing can include a demand or term loan, a loan guarantee, or equity investment.
Loans will be secured, and can be from one to ten years, giving you the chance to develop your business while being free from financial burden.
NEED MORE INFORMATION?
CBDCs are always willing, able, and enthusiastic to help entrepreneurs do what they do best: run a thriving and successful business!
DO YOU QUALIFY?
CBDC’s General Business Loan may be offered to businesses that meet the following qualifications:
- Entrepreneurs or businesses purchasing a new or existing company;
- Expanding an existing business;
- An existing company in need of working capital;
- Both year-round and seasonal businesses are eligible;
- Eligible business expenses may include: start-up, land and buildings, fixed assets, machinery and other equipment, fixtures and furniture. In some cases, vehicles strictly for business uses may also qualify;
- Franchise purchases and Leasehold improvements are also eligible;
- Potential borrowers must show a legitimate chance of economic viability. Employment creation and/or maintenance without negatively impacting existing area businesses is also a necessity.
* Please note:
- Please note, in certain circumstances, CBDCs can provide financial assistance that exceeds $150,000 per eligible borrower.
- CBDC Services and Programs may vary by region. Please ask your local CBDC office for the details in your area.