CBDC First-Time Entrepreneur Loan (PEI)
Up to $150,000 in repayable financing for first-time entrepreneurs in rural PEI through Community Business Development Corporations.
About this program
The CBDC First-Time Entrepreneur Loan offers up to $150,000 to first-time entrepreneurs living in rural Atlantic Canada, including Western PEI, Central PEI, and PEI East. Available to sole proprietors, limited companies, and partnerships where majority control resides with the new entrepreneur. Loans can be used for business start-up, buying existing business, fixed assets, working capital, buildings and land, furniture, machinery, franchise purchases, and leasehold improvements. Both seasonal and year-round businesses qualify. Counselling and training services are also provided. In certain circumstances, financing can exceed $150,000.
Eligibility
First-time entrepreneurs living in rural areas of PEI (Western PEI, Central PEI, or PEI East regions). Sole proprietors, limited companies, and partnerships with majority control by the new entrepreneur.
Requirements
- First-time entrepreneur
- Living in rural PEI
- Majority business control with new entrepreneur