First Time Entrepreneur Loan | South Shore Opportunities

Entrepreneur Loan:

• 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

business;

• 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

acceptable.

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.

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.