Mandate
We are a Community Business Development Corporation (CBDC) established in August 1988. A non-profit, community based centre, we assist Hants and Kings County residents in the establishment of new and expansion of existing enterprises.
We are an independent body, employing full-time staff and governed by a ten member Board of Directors. In addition to having business experience in major sectors of our economy, the Directors represent the key geographical areas of both counties.
Purpose
Our purpose is to create and maintain private sector employment through providing counselling, technical, and financial assistance to qualified business projects. Specific programs to do so include Youth loans, First Time Entrepreneur loans, General Business loans, Innovation loans, Social Enterprise loans, CYBF loans, SIB loans, and self-employment assistance programs (Self Employment Benefit (SEB) programs in Hants and Kings)
Counselling Assistance
This is the most common type of assistance and is usually in the form of advice to the new entrepreneur, as well as the established business person. When particular problems arise, solutions and plans of action are specially designed to deal with them.
If while counselling the client it is determined that the services of other agencies are required, arrangements are made to obtain those services. In order to ensure a complete counselling program, every attempt is made to follow-up the initial call or visit.
Technical Assistance
CBDC Hants-Kings also assists in the preparation of complete business plans essential to the success of any business venture, including helping new and existing businesses in preparing loan and grant applications. The aim is to promote maximum client participation in the evaluation of a project so the client must agree to take an active part in his / her study.
Financial Assistance
The maximum amount of funding available to a borrower is 20,000 under the Youth loan program; $150,000 under the First Time Entrepreneur, General Business, Innovation, and Social Enterprise loan programs; and $5,000 under the SIB loan program. Interest rates for loans reflect the risk assessment of the proposal while noting the minimum interest rate for Youth loans is two percent above the prevailing prime rate and SIB loans are interest free. Please note a training allowance is also attached to some of the loan programs and SIB loans are for "returning" students only. Last, but, not least, to qualify the proposed business project must satisfy certain criteria:
The business must be based in Hants-Kings.
- The project must create employment for at least one Hants-Kings 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 Hants-Kings is also a community partner of the Futurepreneur and thus assists with local applications.
Self-Employment Benefit Assistance
The Self-Employment Benefit (SEB) Program is a tool designed to encourage an entrepreneurial spirit in unemployed persons. It is the form of income, counselling, training, and technical assistance. Labour and Advanced Education funds the program and determines eligibility. Applicants must be referred directly or indirectly via an external case manager.
Applicants complete their proposal, including a number of self-assessment tools and a summary of their business concept, with the assistance of an assigned business counsellor. The proposal is assessed and a recommendation made as to the proposal's viability. CBDC monitors and assists each individual throughout their participation in the program.
Our Volunteer Board
Investment decisions are made by an independent Board of Directors sensitive to the needs of its community. The directors are volunteers from the business sector dedicated to helping make their community a better place in which to live and work.
The strength of the CBDCs is in our volunteer boards. They have an intimate knowledge of the local markets, the business environment and the people in their communities.
List of Board Members
- Peter Hicklenton (Chairperson)
- Mandy Singleton (Vice Chairperson)
- Tammy Oulton
- Laura Davison
- Katrina Cleveland
- Alan Davidson
- Teresa McCulloch
- Lauren Bonner
- Ryan Knowles
- Boyd Moore
CBDC Hants-Kings
Windsor (Head Office) - (902) 798-5717
Elmsdale (Satellite Office) - (902) 883-8879
Kentville (Satellite Office) - (902) 679-6215
Website - www.hantskingsbdc.ca