The Innovation Loan is designed to encourage business productivity and effectiveness in the communities of rural Atlantic Canada. New technologies may include existing methods that have been adapted or repurposed for commercial applications. The loan could also be used for financing for new products or services and training, as well as financial support.

What’s Covered By The CBDC Innovation Loan?

CBDC offers up to $150,000* per qualified borrower. All loans are repayable and have competitive interest rates and repayment terms. Financial options include term loan and demand loans, loan guarantees or equity investments.

CBDC Innovation Loans can be used to finance any costs of the purchase of equipment, software, processes, licenses, and other items that are clearly identifiable as “new” technology that will enhance the business. Infrastructure, installation and maintenance costs associated with the implementation and utilization of new technology are also included, and we can assist with the costs of training staff who will be working directly with the new technology.

Change Can Be A Good Thing!

Change can bring with it great benefits. It can help you develop new products and services and tap into new markets. Adopting new technologies can help you keep up with potential competitors and ensure your company’s reputation as a cutting edge business.

Do You Qualify?

• Rural based businesses across Atlantic Canada meeting the following criteria may qualify for CBDC’s Innovation Loan:
• Available to new and existing entrepreneurs;
• Both the business and the borrower must be located in rural areas;
• Year-round and seasonal businesses are acceptable.
• The business should have a realistic prospects of economic viability. Employment creation and/or maintenance in the community is also a key factor. Applications will also be judged on revenue potential, as well as the Borrower’s commitment and dedication to the project.

* Please note:

• CBDCs may offer financing above the normal $150,000 per applicant, in certain situations.
• Programs and services delivered by CBDCs may vary by region. Don’t hesitate to contact your local office for more information.