Students In Business

What is this?

  • loan up to $5,000  for a short-term period.
  • 0% interest if repaid in the agreed manner and timeframe.
  • to establish, expand or modernize a commercial activity. (purchase of existing business is not usually eligible).
  • loans can be used to purchase fixed assets, start-up costs and working capital.
  • most sectors are eligible including retail and personal services.
  • business must take place in Nova Scotia.
  • each applicant will be required to participate in training/counselling related to their business
  • applicant may be eligible for up to 10% rebate on repaid loan if business has run for 8 to 12 weeks or longer  and have submitted a final report acceptable to this organization

Who can participate?

 You must:

• be a student who has passed your 15th birthday but has not reached your 35th birthday

• attend, or plan to attend, high school or a recognized post-secondary educational institution in the fall

• be a resident of Nova Scotia for six consecutive months prior to applying

 What kinds of businesses qualify?

• All types of businesses that are considered to be desirable and essential to your local community will be considered. These include sole proprietorships, student cooperatives, partnerships and corporations.

• If you have business partners, each of you must apply separately for SIB assistance, which will be divided equally among you to a maximum of $5,000.

• You cannot register more than one business under SIB.

• Your business activities must be carried on within the province of Nova Scotia.

Further Details at www.studentsinbusiness.ca

For further information please contact us:

Tel:(902)354-2616 or

Toll free 1-888-303-CBDC (2232)

Email: sso@cbdc.ca

SIB is an initiative of the Atlantic Canada Opportunities Agency, Enterprise Cape Breton Corporation, Indian and Northern Affairs Canada, Nova Scotia Office of Economic Development and Nova Scotia Department of Community Services in partnership with the Community Business Development Corporations throughout rural Nova Scotia and the Centre for Entrepreneurship Education and Development in metro Halifax. SIB recognizes Nova Scotia’s student entrepreneurs who operate businesses.

 

Leave a Reply

Your email address will not be published. Required fields are marked *