Business Investment Program — Term Loan
Fuel your growth in Newfoundland and Labrador with a repayable term loan from the Department of Jobs, Growth and Rural Development. Interest is set at the Bank of Canada rate plus 0.5%, so you pay back the principal plus interest. Verified against the official source on July 2, 2026.
How we verify funding records →
“Personal Net Worth Statement for all shareholders and key management personnel (loans only).”
Before you spend a dollar
Confirm on the official page whether approval must precede spending or if reimbursement is possible.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Not sure if you qualify?
Get a free, 2-minute read on whether this program fits your business. No obligation.
Check your fit →Is this for you?
- You are an SME in Newfoundland and Labrador with fewer than 100 employees and under $10 million in annual sales.
- You operate in a strategic growth sector identified by JGRD or have a clear plan to enter or expand into export markets.
- You need capital to complement conventional funding and can show you have the ability to complete your proposed project.
Probably not the right fit if
- You are not based in or operating within Newfoundland and Labrador.
- You are not in good standing with the Government of Newfoundland and Labrador.
- You cannot demonstrate the ability to access the financial capital required to complete the project alongside this loan.
How much you'd realistically get
The maximum loan amount is not published; confirm on the official page.
What may be supported
- Projects in strategic growth sectors identified by JGRD.
- Initiatives to enter or expand into external export markets.
- Capital base increases to leverage new private-sector investment.
How applying works
Effort: moderateYou must complete a fillable PDF application and demonstrate financial capacity and project viability to the Department of Jobs, Growth and Rural Development.
- 01Review the eligibility criteria to ensure you are an SME in a strategic sector or have export potential.
- 02Prepare your project proposal and financial documentation to demonstrate your ability to complete the work.
- 03Download and complete the 'Application for Commercial Programs' fillable PDF.
- 04Submit the completed application to the Department of Jobs, Growth and Rural Development.
Who to ask: Email: economicdevelopment@gov.nl.ca; Phone: 1.709.729.2480; P.O. Box 8700, St. John's, NL A1B 4J6
Documents commonly required
- Completed 'Application for Commercial Programs' fillable PDF.
- Project proposal detailing the work to be undertaken.
- Financial documentation demonstrating the ability to access required capital.
- Proof of good standing with the Government of Newfoundland and Labrador.
How BBN Labs helps
- BBN builds your export-ready website and digital storefront, giving you a professional global presence that attracts international buyers and expands your market reach.
- BBN sets up your B2B digital systems and automation workflows, streamlining operations to handle larger orders and demonstrate the scalability investors demand.
- BBN guides you through the application and deadlines, structuring your project plan to demonstrate viability so you can access the financing.
What to know before you count on it
- This is a repayable loan, not a grant; you must pay back the principal plus interest.
- Interest is charged at the Bank of Canada rate plus 0.5%, which is subject to change.
- The loan term length and repayment schedule are not stated; confirm on the official page.
- Specific eligible cost categories are not stated; confirm on the official page.
What are your odds?
Approval depends on demonstrating strategic sector alignment or export potential and financial viability; there is no guarantee of funding.
Frequently asked questions
What is the interest rate?
The interest rate is equal to the Bank of Canada rate plus 0.5%. The department's base rate has been cited at 2.45%, but interest rates are subject to change.
Is there a maximum loan amount?
The maximum loan amount is not published; confirm on the official page.
What costs are eligible?
Specific eligible cost categories are not published; confirm on the official page.
How do I apply?
Apply using the 'Application for Commercial Programs' fillable PDF and submit it to the Department of Jobs, Growth and Rural Development.
What you can combine it with
This loan is intended to complement conventional funding sources where a need has been demonstrated.
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Record last updated June 21, 2026; last verified July 2, 2026 against the official source. Source: official program page.