What the CBDC Innovation Loan Covers
We can provide up to $150,000 per eligible borrower, in the form
of a repayable loan with competitive interest rates and repayment
terms. Financing can be in the form of a term loan, demand loan, or
a loan guarantee. Equity investment may also be considered.
The CBDC Innovation Loan can be used to finance any costs of the
purchase of equipment, software, processes, licenses, and other
items that are clearly identifiable as “new” technology that will
enhance the business.
Infrastructure, installation, and maintenance costs associated with
the implementation and utilization of new technology are also
included, and we can assist with the costs of training staff who will
be working directly with the new technology as well.
Oftentimes change is a good thing, and adopting new technology
is a way to keep up with potential competitors and ensure your
company’s reputation as a cutting edge business.
Who Can Apply?
Rural based businesses that meet the
following criteria are encouraged to
apply for the CBDC Innovation Loan:
• Business activities can include new and
• The borrower and the business activity
must be located in rural areas;
• The business activity should
demonstrate a reasonable expectation
of economic viability, as well as job
creation and/or maintenance.
However, applications will be judged
on the Borrower’s commitment
and dedication to the project as well as
• Year-round and seasonal businesses are acceptable.