Who: Any entrepreneur in the Urban Saint John area who is starting a business. Entrepreneurs under the age of 35 are eligible to apply for business expansion funding. Anyone over the age of 35, can use the loan for start-up businesses, only.

What: The IMPACT loan program is a loan fund for the development of local businesses. The fund will permit entrepreneurs to apply for a repayable loan of up to $20,000 on a 5-year term. The loan is offered at the interest rate of 2% + prime. It’s interest-free for the first 12 months. In addition to the capital, the program also offers free business management skills training for successful applicants. You can apply on-line, but please NOTE: session does not save and will time out after 1/2 hour. It’s recommended you have your resume, cash-flow statement and business plan ready to upload before starting.

Click here to apply for the IMPACT Loan

When: Applications are reviewed quarterly

Where: Available for Saint John area residents. If your business is outside Saint John, a similar program is offered.  Contact CBDC.