Financial Assistance

CBDC Blue Water offers various financing programs for small to medium size businesses. We can assist entrepreneurs who may have had difficulties accessing capital from traditional lenders and are unable to qualify or meet the credit standards of the conventional lending institutions.

Financial Assistance

To qualify for funding, the proposed business project must satisfy certain criteria:

  • The business must be based in rural Halifax Regional Municipality.
  • The project must create employment for at least one local resident.
  • Applicants should be providing adequate equity in the business project.
  • Applicants requesting financial assistance must have exhausted other conventional sources of loans.
  • The business proposal must be sound and viable in the market place.
  • The existence of any or all of the above criteria does not in itself guarantee approval by the Board of Directors.

CBDC General Business Loan

This program provides financing up to a maximum of $150,000 for existing businesses located in a rural HRM community. Our participation can be in the form of a term loan, or a loan in partnership with other lenders.

  • Loans up to $150,000
  • Attractive interest rates
  • Loan repayment term of up to 15 years, based on loan circumstances
  • Secured-lending requirements
  • Flexible repayment options (if applicable); particularly beneficial to seasonal operations
  • Administration Fee ranging between 1.00% and 1.50% (minimum $100)
  • Application fee of $100

CBDC First-Time Entrepreneur Loan

Our Start-up Loan program is for aspiring entrepreneurs who want to start a business in a community served by CBDC Blue Water. This program 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 training and counselling support.

  • Loans to a maximum of $150,000Attractive interest rates
  • Loan repayment term of up to 15 years, based on loan circumstances
  • Flexible repayment options (if applicable); including the ability to repay early as a lump-sum or in full
  • Secured-lending requirements
  • Administration Fee ranging between 1.00% and 1.50% (minimum $100)
  • Application fee of $100
  • Up to $2,000 in training funds available for specific business training and counselling (as long as funds are available and proposed training/counselling qualifies)

CBDC Innovation Loan

This loan program is specifically designed for companies that want to commercialize a new technology or plan to implement a new innovative technology into their business.

  • Loans up to $150,000
  • Loan repayment term of up to 15 years, based on loan circumstances
  • Flexible repayment options (if applicable); including the ability to repay early as a lump-sum or in full
  • Up to one year of interest-only payments
  • Administration Fee ranging between 1.00% and 1.50% (minimum $100)
  • Application fee of $100

CBDC Youth Loan

This Loan program is specifically for youth entrepreneurs between the age of 19 to 34 who want to start, expand, or purchase a business.

  • Loan up to $20,000, with up to 7 years for repayment
  • Interest rate minimum prime + 2.00%
  • Flexible repayment options (if applicable), particularly beneficial to seasonal operations
  • Administration Fee ranging between 1.00% and 1.50% (minimum $100)
  • Application fee of $100
  • Up to $2,000 in training funds available for specific business training and counselling (as long as funds are available and proposed training/counselling qualifies)

CBDC Micro Business Loan

A loan program that gives entrepreneurs access to financing in a more flexible time frame.

  • Loan up to $10,000
  • Loan repayment term of up to 5 years, based on loan circumstances
  • Administration Fee: $100
  • Interest rate minimum prime + 2.00%
  • Application fee of $100
  • Flexible repayment options (if applicable), particularly beneficial to seasonal operations

CYBF Youth Loan Program

CBDC Blue Water is a community partner of the Canadian Youth Business Foundation (CYBF) for rural HRM. CYBF is a national charity providing start-up mentoring, financing, and business resources for Canadians age 18-34 to create new businesses. For details and eligibility criteria please visit www.cybf.ca.

  • Loan up to $15,000, with 3 to 5 years for repayment
  • Interest rate of prime + 2% in year one, prime + 1% in year two and prime in year three to five; based on good repayment
  • Loan can be matched by BDC financing of up to $30,000
  • Loan Mentorship component to assist with business development
  • $50 CYBF loan administration fee, $15 CYBF monthly administration fee, and $100 application fee with community partner

Line of Credit Guarantee Program

From time-to-time, term loans are not the right products for your financial needs. Under this program, CBDC Blue Water can pledge a guarantee to one of our partner institutions for entrepreneurs who are seeking operating capital through a line of credit but do not otherwise qualify based on the partner institutions’ lending criteria.

  • Line of Credit Guarantee up to $150,000.
  • Annual Risk Adjustment Fee: 4.00% of the total line of credit limit. 

Students in Business Program www.studentsinbusiness.ca

This program assists students between the age of 15 and 29 to explore entrepreneurship. It includes a small loan program, training and on-going support. More info at www.studentsinbusiness.ca

As with all of our loan programs, the existence of any or all of the above criteria does not in itself guarantee approval by the Board of Directors.