Loan Requirements:

• The owner of a new business must invest in the business project being considered.

• A complete business plan must be submitted for review to determine economic viability. You may obtain a guide to completing a plan at our office.

• The owner must be under 29 years of age.

• Minors must have a co-signer.

There are three types of youth loans available through the CNP BDC:

• Loan maximum of $25,000
• Maximum term of 5 years
• Interest rate = Royal Bank prime + 1%
• Qualifications:
• Have three months working capital
• Purchase hard assets

• Loan maximum of $3000
• Maximum term of 5 months (May 1 to September 30)
• Interest rate = interest free for term of loan, Royal Bank prime on balance if an extension is required
• Qualifications:
• Enrolled as a full time returning student
• Operate business during summer term as a minimum

• Loan maximum of $3000
• Maximum term of 1 year
• Interest rate = interest free for first three months, Royal Bank prime following this
• Qualifications:
• Full time student
• Operate business during term of loan