Small Business Assistance
“Prince Edward Island. Finance”
The funder does not disclose this information
Maximum Eligible Amount
Repayable Contribution
Fund Type
This program is designed to meet the special needs of Prince Edward Island's small business community and entrepreneurs.
- Intermediate term loan. The repayment term should coincide with the expected life of the asset being financed, but loans will not exceed 10 years. These loans may be used for the purchase of machinery, equipment or other acquisitions of a capital nature. Vehicles which do not directly contribute to the business’s income and sales are not eligible.
- Long term loan. Capital loans are available for the purchase and/or refurbishment of capital assets and, in some cases, for debt restructuring. The maximum term for a loan is 20 years and has flexible repayment options, matching your business’s cash flow. Loans are typically secured by a lien on the property, but in some cases alternate security may be considered. The loan limit will not generally exceed 80 per cent of the fair market value or purchase price, whichever is less.
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