Social enterprise development has always been one of the primary objectives of the Community Business Development Corporation (CBDC). Central to strong and sustainable community development is the creation of active and vibrant rural communities where people can live, work, and enjoy social activities right where they live. CBDCs are proud to support the development and growth of Social Enterprises by helping to arrange loans and financing and by providing access to other business development services and resources.

WHAT ARE SOCIAL ENTERPRISES?

A Social Enterprise is a business or organization that produces and/or sells goods and services to generate income to support and sustain social and community development goals. A social enterprise may take a variety of forms: a non-profit organization, a cooperative or a membership organization. They are defined by their entrepreneurial spirit: the production of goods and services and revenue generation beyond that coming from public grants.

CBDC Social Enterprise Loans and financing is available to non-profits, including charities, cooperatives or societies in need of business support (in the form of a loan or loan guarantee). Financing will be used to buy assets, renovate existing ones or to expand a social enterprise. CBDC Social Enterprise Loans are specifically intended to provide financial support for revenue generating business operations of officially registered non-profit organizations.

WHAT CAN WE DO FOR YOU?

The CBDC offers loans of up to $150,000* per eligible applicant. (Loans are repayable with competitive interest rates and repayment terms).

The Social Enterprise Loan may be used to purchase machinery, equipment or other items necessary for continued business operations.

Loan amortizations of up to ten years are available. This is based on the life expectancy of the asset(s) the Social Enterprise is using the funds to acquire.

DO YOU QUALIFY?

If your Social Enterprise meets the following guidelines, then the CBDC Social Enterprise Loan may be for you.

Both new and existing Social Enterprise businesses are eligible to apply for this loan;

Social Enterprises may be seasonal or year-round;

The Social Enterprise and its operations must be located in rural areas of Atlantic Canada;

Loans may be used to Start-up a new Social Enterprise or to expand, renovate, or upgrade of an existing one;

The Social Enterprise’s business operations should provide a realistic expectation of economic viability, ensure sound business practices, and facilitate job creation and maintenance in your community.

COMMUNITY CREATION AT ITS’ BEST

Social enterprises help create good communities. Being able to create sound economic and socially conscious communities fosters a strong, healthy and vibrant lifestyle for everyone’s benefit.

APPLY NOW

*Please note, in certain circumstances, CBDCs can provide financial assistance that exceeds $150,000 per eligible borrower.