CBDC Innovation Loan (PEI)
Repayable loan to support rural PEI businesses adopting new technologies or developing innovative products and services.
About this program
The CBDC Innovation Loan is designed to encourage business productivity and effectiveness in rural Atlantic Canada including PEI by supporting the adoption or commercialization of new technologies. New technologies may include existing methods adapted or repurposed for commercial applications. The loan can finance new products or services, training, and other innovation-related costs. Year-round and seasonal businesses are eligible. Applications are evaluated on revenue potential, business viability, employment creation/maintenance, and applicant commitment.
Eligibility
Rural-based businesses in PEI seeking to adopt, adapt, or commercialize new technologies, develop new products/services, or modify existing offerings for commercial application.
Requirements
- Rural PEI-based business
- Innovation, technology adoption, or commercialization project
- Realistic prospect of economic viability