This innovation loan product is for entrepreneurs and businesses looking to develop and/or adopt new technology in their business located in a community served by the CBDC South Coast. This program offers flexible repayment terms tailored to the needs of the innovation project.
- Term loans to a maximum of $150,000.
- Loan repayment term of up to 10 years.
- Fixed interest rates - tailored loan product interest rates applicable.
- Flexible repayment options to fit the innovation project.
- Secured lending requirements.
- Non-refundable application fee of $100, and if approved, an administration fee of 1.25% (minimum $500).
- 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.