Where can you go to make your plans a reality? To your local Community Business Development Corporation (CBDC) that’s where! CBDC NOBL knows firsthand that arranging financing for expansion or the purchase of an existing business can sometimes be difficult through regular financial institutions. That’s why we’ve created the CBDC General Business Loan which is our most flexible business loan product.
How CBDC NOBL can help you
We can provide up to $300,000* per eligible borrower, in the form of a repayable loan with competitive interest rates and repayment terms. This financing can be in the form of a term loan, demand loan, loan guarantee, or equity investment.
All loans will be secured where appropriate; loans can be from one year to ten years which gives you time to grow your business without being financially stressed.
Eligibility Criteria
The CBDC NOBL General Business Loan may be offered to applicants who meet the following guidelines:
- Existing entrepreneurs who are purchasing a business (both new and existing companies are eligible);
- Expanding a business or in need of additional working capital;
- Financing of any costs of the business including start-up costs, fixed assets, land, building, equipment, machinery, furniture and fixtures, and, in some situations, vehicles used solely for business purposes. Leasehold improvements and franchise purchases are also eligible;
- Should demonstrate a reasonable expectation of economic viability, as well as job creation and/or maintenance without impacting existing businesses in the area;
- Year-round and seasonal business activities are both eligible.
