• You must be a new, first-time entrepreneur
residing in a rural area;
• Loan can be applied to either a start-up of a new
business or assist in the purchase of an existing
• Start-up costs, fixed assets, land, building,
equipment, working capital, machinery,
furniture and fixtures, and in some situations,
vehicles used solely for business purposes are
eligible. Leasehold improvements and franchise
purchases are also acceptable expenditures;
• Year-round and seasonal business activities are
How We Can Help the First-Time
The CBDC First-Time Entrepreneur Loan can provide up
to $150,000 per eligible borrower, and this includes sole
proprietors, partnerships (whereby the majority of the
care and control is vested with the new entrepreneur), or
a limited company.
The First-Time Entrepreneur Loan is a repayable loan
with competitive interest rates and repayment terms.
Financing can be in the form of a term loan, demand loan,
loan guarantee, or equity investment.
Ready to Move Forward?
If you are ready to forge ahead with your business idea and
are in need of financial assistance, feel free to give one of
our trained business officers a call.