CBDC Labrador is the lead support agency for business development across Labrador. As part of an Atlantic network, CBDC Labrador is a community-based regional organization that provides financial and business support throughout Labrador.

CBDC Labrador offers help to entrepreneurs and promising start-ups who have growth potential and meet a need within regions of Labrador.

One of the main objectives is to help enterprises by removing barriers for success. We offer a range of services that can contribute support and guidance for the business start-up and development process.

Contact us to discuss your business plans.

Targeted financing for those first-time entrepreneurs starting or purchasing their very first business.

Do you currently reside in a Labrador community and have recently made the decision to take the plunge into becoming a business owner? If your answer is a resounding yes, then CBDC Labrador may have the perfect business loan to help put your plans into action.

We know that oftentimes it may be difficult to obtain financial assistance for a first-time entrepreneur through traditional lending channels, so we've developed a perfect solution, namely the CBDC First-Time Entrepreneur Loan. We also offer assistance with training and counselling services as well as we're here to help you become a self-sufficient and profitable business owner.

HOW WE CAN HELP THE FIRST-TIME ENTREPRENEUR

The CBDC First-Time Entrepreneur Loan can provide up to $150,000* per eligible borrower, and this includes sole proprietors, partnerships (whereby the majority of the care and control is vested with the new entrepreneur), or a limited company.

The First-Time Entrepreneur Loan is a repayable loan with competitive interest rates and repayment terms. Financing can be in the form of a term loan, demand loan, loan guarantee, or equity investment.

READY TO MOVE FORWARD?
If you are ready to forge ahead with your business idea and are in need of financial assistance, feel free to contact the CBDC Office to discuss your plans and financial needs.

FIRST-TIME ENTREPRENEUR LOAN ELIGIBILITY CRITERIA

Here are a few of the criteria that applicants must meet in order to be considered for the First-Time Entrepreneur Loan:

• You must be a new, first-time entrepreneur residing in a Labrador community;
• Loan can be applied to either a start-up of a new business or assist in the purchase of an existing business;
• Start-up costs, fixed assets, land, building, equipment, working capital, machinery, furniture and fixtures, and in some situations, vehicles used solely for business purposes are eligible. Leasehold improvements and franchise purchases are also acceptable expenditures;
• Year-round and seasonal business activities are acceptable.

The CBDC general business loan is designed to assist entrepreneurs to obtain financing for their business, when traditional avenues of financing are not available.

Business is booming and you need funding for an expansion of your existing premises or have to construct a new building. Perhaps it's time to purchase new equipment and additional materials in order to fulfill increased customer demand for your product. Where can you go to make your plans a reality? To CBDC Labrador! CBDC Labrador knows firsthand that arranging financing for expansion or the purchase of an existing business can sometimes be difficult through regular financial institutions. That's why we've created the CBDC General Business Loan which is our most flexible business loan product.

HERE'S HOW WE CAN ASSIST YOU
We can provide up to $150,000 per eligible borrower, in the form of a repayable loan with competitive interest rates and repayment terms. This financing can be in the form of a term loan, demand loan, loan guarantee, or equity investment.

All loans will be secured where appropriate, loans can be from one year to ten years which gives you time to grow your business without being financially stressed.

NEED MORE INFORMATION?
CBDC Labrador personnel are always ready, willing, and eager to help business owners determine how CBDC programs can assist in their business growth. Contact our office to discuss your needs.

DO I QUALIFY?
The CBDC General Business Loan is offered to applicants who meet the following guidelines:

• Existing entrepreneurs who are purchasing a business (both new and existing companies are eligible);
• Expanding a business or in need of additional working capital;
• Financing of any costs of the business including start-up costs, fixed assets, land, building, equipment, machinery, furniture and fixtures, and, in some situations, vehicles used solely for business purposes. Leasehold improvements and franchise purchases are also eligible;
• Should demonstrate a reasonable expectation of economic viability, as well as job creation and/or maintenance without impacting existing businesses in the area;
• Year-round and seasonal business activities are both eligible.