Youth Entrepreneurs
Tailored business solutions for young entrepreneurs ages 18-34 interested in starting, expanding or modernizing projects that require financing to get the business moving.
Oftentimes obtaining start-up capital to open a business can be a frustrating experience for youth between the ages of 18 to 34. They may have exciting new business ideas that could generate positive revenue spin-offs once the financial roadblocks are removed from their path, yet experience difficulty obtaining necessary financing. CBDC Labrador offers a Youth Loan Program to address this need for start-up funds to support youth business development.
THE MAIN OBJECTIVES OF THE CBDC YOUTH LOAN ARE TO:
Oftentimes obtaining start-up capital to open a business can be a frustrating experience for youth between the ages of 18 to 34. They may have exciting new business ideas that could generate positive revenue spin-offs once the financial roadblocks are removed from their path, yet experience difficulty obtaining necessary financing. CBDC Labrador offers a Youth Loan Program to address this need for start-up funds to support youth business development.
THE MAIN OBJECTIVES OF THE CBDC YOUTH LOAN ARE TO:
- Improve access to capital opportunities and financial leveraging abilities for business start-up, expansion, or modernization for youth ages 18 – 34;
- Create and maintain jobs in Atlantic Canada.
LET US HELP YOU!
The CBDC Youth Loan can offer financial assistance to eligible borrowers, in the form of a repayable loans, while offering competitive interest rates and repayment terms. Financing can be in the form of a term loan, demand loan, loan guarantee, or equity investment. We also can assist with the costs of providing valuable training to ensure that your business starts off on the right foot.
ARE YOU ELIGIBLE?
As with all CBDC programs, CBDC Labrador has created guidelines that outline what business activities are eligible for the Youth Loan Program. Here are the main criteria necessary to apply:
The borrower's business activity should demonstrate a reasonable expectation of economic viability, as well as job creation and/or maintenance in a Labrador community.
The CBDC Youth Loan can offer financial assistance to eligible borrowers, in the form of a repayable loans, while offering competitive interest rates and repayment terms. Financing can be in the form of a term loan, demand loan, loan guarantee, or equity investment. We also can assist with the costs of providing valuable training to ensure that your business starts off on the right foot.
ARE YOU ELIGIBLE?
As with all CBDC programs, CBDC Labrador has created guidelines that outline what business activities are eligible for the Youth Loan Program. Here are the main criteria necessary to apply:
- Business activities including start-up, expansion or modernization of a commercial activity for a Youth Borrower between the ages of 18 – 34;
- The business may be either a year-round or seasonal business activity;
- Loan may be used to finance any costs of the business including fixed assets, start-up costs, and/or working capital. Leasehold improvements and franchise purchases are also eligible;
- The Youth Loan can also be used to purchase assets of a former business provided the purchase transaction is at arm's length and the business assets are purchased at or below their current market value;
- A borrower can be a sole proprietorship, a partnership (where the majority of the care and control is vested with the young entrepreneur), or a limited company;
- The proposed business activity should not have a negative impact on existing businesses.
The borrower's business activity should demonstrate a reasonable expectation of economic viability, as well as job creation and/or maintenance in a Labrador community.
