CBDC Blue Water provides small business loans, general business advice, consultation programs, and a host of other supports for entrepreneurs seeking to start or grow their own business in rural Halifax Regional Municipality.

While banks and credit unions are important and have a key role to play in business development, CBDCs operate quite differently.

• CBDCs have the ability to spend more time providing advice and assistance to entrepreneurs.
• CBDCs have a mandate to help businesses start, grow, and remain competitive in today's marketplace. Although our loan interest rates are priced competitively, we do not compete with banks and credit unions.
• When people apply for a business loan, we place much emphasis on the character of the applicant, and the merit of the business. (More information below.)
• CBDCs are also more flexible during the repayment process, particularly with seasonal options. CBDCs allow you to make lump sum payments or to pay your loan off at any point through the terms of the loan without penalty.

While we don’t offer grants, we can help you explore other potential funding opportunities.

Any local business owner, in the area known as old Halifax Regional Municipality (HRM), covering the rural areas between Ecum Secum and Hubbards, including communities such as Tantallon, Timberlea, Lower Sackville, Beaverbank, Eastern Passage, The Prestons, Porters Lake, Sheet Harbour, and Middle Musquodoboit, but excluding the metro areas of Halifax, Bedford, and Dartmouth. Whether you're just starting out or have been running your business for generations, can apply for a loan with CBDC Blue Water.

Once your application is complete, we can typically make decisions much faster than many traditional lenders.

The board meets twice per month and decisions are made at the meeting, Our process is more streamlined than traditional lending institutions, so the decision will be made at the next board meeting.

Most businesses are developed because of a personal hobby or passion. At CBDC Blue Water we do not provide business ideas, we provide advice and training in relation to your idea. A very good point to remember, you as the business owner will not only work within your business 40-50 hrs. per week, but you will also need to carve out time to work on your business (marketing, bookkeeping, etc.)

The first step in any business start-up or expansion is the development of your business plan – putting your idea and the development of your idea on paper. You should also complete 2 years of financial projections (revenues and expenses) which should be done month by month.

A CBDC will not write your business plan for you, but they will help you learn how to develop one, and provide the appropriate tools and resources.

Business registration is done at Access Nova Scotia. They will first search your business name in Atlantic Canada or Canada (your choice). You must decide what form of business you want to register.

• Sole proprietor: You are the sole owner; you and the business are considered one.  
• Partnership: You are going into business with at least one other person, you and that person are one with the business.  
• Incorporation: Your business becomes it’s own entity, you are either an employee of the company and/or a shareholder of the company.
• Cooperatives: Is a legal structure you can choose for your business or non-profit.
• Social Enterprises: Operate as non-profits with the purpose of addressing social, economic or environmental concerns.

Once you have a business plan in place, start working towards launching your small business.  Have someone else read your plan to ensure you are not missing important details. Have the reader ask questions about your business, so you are sure you have thought it through.

CBDC Blue Water offers a variety of loan programs to a large variety of industries. We work with the client to ensure we offer the best loan program suited to their business needs.

Our loans can be used for a variety of business needs, including:

• Starting a new business
• Buying property or equipment
• Inventory purchases
• Business debt consolidation (e.g., moving business debt off personal credit cards, paying past due HST or taxes)
• Expanding your business
• Operational costs, such as growing your team
• Buying a business
• Professional development and training
• Leasehold improvements

We will work with you to identify the collateral you have available to support your loan application.

You can pay off your loan any time without any prepayment penalties. We don’t charge interest beyond the date you pay off your loan, and we celebrate with you when you’ve made your final payment.

We’re here to support you through tough times. If you encounter difficulties, we’ll work with you to find a solution that fits your situation.

The interest you pay on your loan is reinvested back into the community. We are government-supported but not government-funded, making us a truly independent, community-based organization.

Yes we do! Essential Guide to Starting a New Business in Rural HRM. Download your guide here. 

Yes! When buying a business, there are some essential things that you need to take into consideration. Download your complete Guide Here