Technology changes at a remarkable pace these days. This can have a serious impact on the continued success of business. Being a technological leader is an important part of maintaining a vibrant, growing economy. Do you have an idea for a new product or service or maybe an idea to modify an existing one?
To help in the development of our knowledge-based economy and advance the adoption of technologies for business, CBDC Blue Water can offer Innovation Loans. The loan is designed to encourage business productivity and effectiveness in the communities of rural Halifax Regional Municipality. 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.
How we can help?
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 may be used for a variety of things: the acquisition of equipment, software, processes or licenses, and other things that are clearly defined as “new” technology that will improve business operations. Expenses for infrastructure changes or installation, as well as maintenance due to implementation and utilization of new technology also qualify. We can assist with costs for training employees in the application and use of the new technology.
Do you qualify?
- Available to new and existing entrepreneurs.
- Both the business and the borrower must be located in a rural area.
- Year-round and seasonal businesses are acceptable.
- The business should have a realistic prospect 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.)