The Newcomer Loan Program is designed to provide financing to newcomers who are ineligible to receive support because of their residency status. CBDC also offers training and counselling services to help our clients become self-sufficient and profitable business owners. The program offers repayable loans of up to $20,000 for newcomers to start a new business or purchase an existing business in Newfoundland and Labrador. All sectors that are eligible for CBDC lending are eligible under this program. All loans will be secured where appropriate. The term of the loan can be up to ten years, giving clients time to strengthen their business without being financially stressed.

Eligibility Criteria

The Newcomer Loan is offered to applicants who meet the following conditions:

• 19 and older.
• Non-permanent residents or citizens of Canada at the time of application.
• Living in Newfoundland & Labrador. 

Please reach out to your local CBDC to connect with a Business Development Officer who can assist you on your entrepreneurial journey.

* Please note that programs and services delivered by CBDCs may vary by region. For individuals located in St. John’s or Mount Pearl, please contact Metro Business Opportunities at 1-709-738-1626.

Financial support for this program is provided by the Government of Newfoundland & Labrador.