Innovation Loan

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.

 

Embrace Change!

 

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

existing entrepreneurs;

• 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

earning potential;

• Year-round and seasonal businesses are acceptable.

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