This first-time entrepreneur loan product is for aspiring entrepreneurs who want to start or purchase a business in a community served by the CBDC South Coast. This loan product offers flexible repayment terms tailored to the needs of your new business. In addition, there are limited funds available to the new entrepreneur for qualified business training.
- Term loans to a maximum of $150,000 and possibly more.
- Loan repayment term of up to 10 years or possibly 15 years for certain assets.
- Fixed interest rates - tailored loan product interest rates applicable.
- Flexible repayment options to fit the business cash flow.
- Secured lending requirements.
- Non-refundable application fee of $100, and if approved, an administration fee of 1.25% (minimum $500).
- Non-repayable training funds may be available for qualifying business or business specific training.
- Projects are subject to competitive impact considerations, viability asessment and application review.
- Some projects may be ineligible due to environmental risk restrictions.
For more information, please call 1-888-303-2232 or (709) 538-3846.
CBDC First-Time Entrepreneur Loan