Social Enterprise
Tailored financing designed to assist social enterprises in rural communities of Atlantic Canada.
Creating thriving communities where people are able to live, work, and enjoy social activities in the Labrador region has long been an objective of the Community Business Development Corporation (CBDC)Labrador. We are proud to support Social Enterprises that operate a business venture in Labrador communities.
WHAT IS A SOCIAL ENTERPRISE?
A Social Enterprise is a business that is directly involved in the production and/or selling of goods and services for the purpose of generating earned income and achieving or contributing to social aims. It can take the form of a non-profit organization, a cooperative, or a membership organization, characterized by an entrepreneurial philosophy, i.e. the production of goods and services and revenue generation that is separate from public grants.
CBDC Social Enterprise Loans are available to non-profits, including societies, charities, and cooperatives in need of business support (in the form of a loan or loan guarantee), that will be used to purchase assets, renovate existing assets or expand a social enterprise. CBDC Social Enterprise Loans are to support the financing of revenue generating activities of registered non-profit organizations.
WE CAN HELP!
CBDC Labrador can provide up to $150,000 per eligible borrower, in the form of a repayable loan with competitive interest rates and repayment terms.
The Social Enterprise Loan can be used to finance the purchase of equipment or other items that are necessary to continue business activities.
We offer a loan amortization of generally up to ten years based on the life expectancy of the asset(s) the Social Enterprise is utilizing the loan monies to purchase.
ELIGIBILITY CRITERIA
If your Social Enterprise meets the following guidelines, then the CBDC Social Enterprise Loan may be for you.
Creating thriving communities where people are able to live, work, and enjoy social activities in the Labrador region has long been an objective of the Community Business Development Corporation (CBDC)Labrador. We are proud to support Social Enterprises that operate a business venture in Labrador communities.
WHAT IS A SOCIAL ENTERPRISE?
A Social Enterprise is a business that is directly involved in the production and/or selling of goods and services for the purpose of generating earned income and achieving or contributing to social aims. It can take the form of a non-profit organization, a cooperative, or a membership organization, characterized by an entrepreneurial philosophy, i.e. the production of goods and services and revenue generation that is separate from public grants.
CBDC Social Enterprise Loans are available to non-profits, including societies, charities, and cooperatives in need of business support (in the form of a loan or loan guarantee), that will be used to purchase assets, renovate existing assets or expand a social enterprise. CBDC Social Enterprise Loans are to support the financing of revenue generating activities of registered non-profit organizations.
WE CAN HELP!
CBDC Labrador can provide up to $150,000 per eligible borrower, in the form of a repayable loan with competitive interest rates and repayment terms.
The Social Enterprise Loan can be used to finance the purchase of equipment or other items that are necessary to continue business activities.
We offer a loan amortization of generally up to ten years based on the life expectancy of the asset(s) the Social Enterprise is utilizing the loan monies to purchase.
ELIGIBILITY CRITERIA
If your Social Enterprise meets the following guidelines, then the CBDC Social Enterprise Loan may be for you.
- The Social Enterprise and the business activity must be located in Labrador;
- New and existing Social Enterprises carrying on business activity are eligible to apply for this loan;
- Start-up of a new Social Enterprise or the expansion, renovation, or upgrading of an existing one are acceptable;
- Social Enterprises conducting year-round and/or seasonal business activity qualify;
- The Social Enterprise's business activity should demonstrate a reasonable expectation of economic viability, and ensure that fundamental business aspects are present, as well as job creation and maintenance is met.
