Got an idea for a new to market product/service or an idea to modify an existing product/service?
To help promote the development of the knowledge-based economy and aid in the adoption or commercialization of new technology, the Community Business Development Corporation (CBDC) has designed the CBDC NOBL Innovation Loan, which encourages business productivity and effectiveness in rural Atlantic Canada.
New technologies may include existing methods that have been adapted or repurposed for commercial applications, as well as financing for new products or services, training, counselling as well as financial support.
* Please note that programs and services delivered by CBDCs may vary by region.
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. Financing can be in the form of a term loan, demand loan, or a loan guarantee. Equity investment may also be considered.
The CBDC NOBL Innovation Loan can be used to finance any costs of the purchase of equipment, software, processes, licenses, and other items that are clearly identifiable as “new” technology that will enhance the business.
Infrastructure, installation, and maintenance costs associated with the implementation and utilization of new technology are also included, and we can assist with the costs of training staff who will be working directly with the new technology as well.
Eligibility Criteria Rural based businesses that meet the following criteria are encouraged to apply for the CBDC NOBL Innovation Loan:
- Businesses activities can include new and existing entrepreneurs;
- The borrower and business activity must be located in a rural area;
- The business activity should demonstrate a reasonable expectation of economic viability, as well as job creation and/or maintenance. However, applications will be judged on the Borrower’s commitment and dedication to the project as well as earning potential;
- Year-round and seasonal businesses are acceptable.
