Impact Loan Program (CBDC)
Get up to $50,000 in low-interest financing to launch or grow your Atlantic business. This is a repayable loan delivered through local CBDCs, and offerings vary by region, so confirm rates and terms with your local office. Verified against the official source on July 3, 2026.
How we verify funding records →
“The Impact Loan Program offers up to $50,000 in low-interest financing with flexible terms to help entrepreneurs in Charlottetown, Stratford, Cornwall grow their businesses.”
Before you spend a dollar
This is a loan; you must secure approval and disbursement before spending the funds.
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 run a small or medium business in an urban area of New Brunswick, Newfoundland and Labrador, Nova Scotia, or Prince Edward Island.
- You need capital to start a new venture or expand your existing operations.
- You have a viable business plan or credit history, even if you do not have significant assets for collateral.
Probably not the right fit if
- You are located in rural Atlantic Canada or outside the Atlantic provinces.
- You are looking for a grant or non-repayable funding, as this is a loan that must be repaid with interest.
- You need funds for purposes explicitly excluded by your local CBDC, since specific exclusions vary by location.
How much you'd realistically get
Up to $50,000.
What may be supported
- Business start-up costs.
- Business expansion activities.
- Equipment purchases for new or expanding operations.
- Working capital for start-up or expansion phases.
How applying works
Effort: moderateYou must apply through your local CBDC, which may require a business plan and financial projections.
- 01Identify the participating Community Business Development Corporation (CBDC) serving your urban area.
- 02Prepare your business plan and financial projections, as these are typically required for loan applications.
- 03Contact your local CBDC office or visit cbdc.ca to start the application process.
- 04Submit your application and required documents to the CBDC for review.
- 05Await approval and disbursement before incurring any costs.
Who to ask: Via local CBDC office; example contact for Central PEI: info.centralpei@cbdc.ca (find your local CBDC office at cbdc.ca)
Documents commonly required
- Business plan or expansion proposal.
- Financial projections or historical financial statements.
- Proof of business registration or incorporation.
- Personal and business credit information (as criteria are flexible but still assessed).
How BBN Labs helps
- BBN builds your professional website and online store with the loan funds, giving your new venture a credible digital home that turns local interest into immediate sales.
- BBN sets up your Local SEO and Google Business Profile so customers in your Atlantic city find you, driving foot traffic to your storefront from day one.
- BBN designs your storefront signage and coordinates qualified partners for installation, aligning your physical presence with your digital brand to attract walk-ins.
- BBN implements modern POS systems and automation workflows funded by the loan, streamlining checkout and capturing customer data to grow repeat business without extra overhead.
- BBN guides you through the application and deadlines so you don't lose the funding.
What to know before you count on it
- Interest is charged at Prime + 2%, which varies by location and CBDC; confirm the exact rate with your local office.
- Repayment terms are flexible but not specified on the official page; confirm the duration and monthly obligations with your CBDC.
- The program is delivered through participating Community Business Development Corporations (CBDCs), so availability and specific criteria may vary by your urban area.
- No minimum loan amount is stated; confirm if your requested amount meets the CBDC's threshold.
What are your odds?
Approval depends on your local CBDC's assessment of your business viability and credit history; flexible criteria help but do not guarantee funding.
Frequently asked questions
Is this a grant or a loan?
It is a loan. You must repay the principal plus interest.
Do I need collateral?
No. The program states no down payment, collateral, or security is required.
What is the interest rate?
It is reported as Prime + 2%, but this varies by location and CBDC. Confirm the exact rate on the official page or with your local CBDC.
Can I pay it off early?
Yes. There is no penalty for early repayment of the principal.
What you can combine it with
This loan can potentially be combined with other CBDC programs like the Innovation Loan or Urban Main Street Loan Initiative, but confirm eligibility with your CBDC.
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 July 3, 2026; last verified July 3, 2026 against the official source. Source: official program page.