This youth loan product is for young entrepreneurs ages 19 to 34 who want to start, expand 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 the young entrepreneur. In addition, there are limited funds available to the young entrepreneur for qualified business training.
- Term loans to a maximum of $20,000.
- Loan repayment term of up to 7 years.
- Fixed interest rates - youth loan product interest rate applicable.
- Funds can be used as leverage for other business loans.
- Flexible repayment options to fit the business cash flow.
- Secured lending requirements are flexible for this loan product.
- 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.