FAQ's

Here you can find some answers for frequently asked questions. If you have any additional questions or you want more information please feel free to contact us via phone or e-mail or visit our office in Musquodoboit Harbour.

FAQ’s

Q. Does CBDC Blue Water give out government money?
A. Although we implement programs on behalf of several government agencies and departments, our core funds are considered “community money” and are used to make business loans, so all financing is repayable. 

Q. How are loan decisions made?
A. We are governed by a volunteer Board of Directors who meets monthly to assess all proposed business loan applications. The Board consists of volunteers from our local communities who have a strong desire to assist economic growth throughout the Halifax Regional Municipality.  

Q. What are the critical dates for my application?
A. CBDC Blue Water’s Board of Directors meet on the last Thursday of each month (except December) to consider funding applications. As such, the final deadline for submitting an application to be considered in a given month is by 4:00pm on the Thursday two weeks previous to the last Thursday of that month.

Q. How soon does the loan have to be paid back? 
A. Loan repayment terms depend on the size of your loan. Larger loans ($150,000) are usually spread out over a ten or fifteen year period while smaller loans are usually repaid over a five-year term.  

Q. What is a CBDC? Are the BDC and a CBDC the same?
A. A CBDC is a not for profit community-based group that strives to assist economic development in communities throughout Atlantic Canada. Conversely, the BDC is the Business Development Bank of Canada, a crown corporation. We are two separate and distinct organizations.

Q. Do I have to invest some of my own money into the business?
A. Although some of our programs do not make it a requirement, it is always better to have some of your own money invested in your business idea. 

Q. What can CBDC Blue Water finance?
A. CBDC Blue Water can potentially fund any project, in any industry, and any piece of a given project. Additionally, Blue Water can fund up to 100% of a project, although an owner’s contribution is always seen as a benefit when presenting the application to our Board of Directors. It is important to note that funding requests should be for legitimate business operations, and for projects that will not be deemed morally offensive by the average member of our community. CBDC Blue Water is guided by policies and procedures in some industries, in order to ensure your project qualifies, please contact a member of our staff who will be happy to assist you.