Western Economic Diversification Canada | Diversification de l'économie de l'Ouest Canada

Business Financing for Western Canada

Micro Loans for Small Businesses

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Capital City Savings Micro Loan Program

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Western Economic Diversification Canada (WD) offers this Micro Loan Program in cooperation with Capital City Savings. This loan program is designed to improve access to patient debt capital for companies that are unable to secure regular financing due to a lack of hard assets, a lack of resources and experience in preparing a business case, the early stage of the company, and/or a lack of familiarity of capital providers with the industry sector.

Who is eligible?

The Capital City Savings Micro Loan Program is specifically designed to benefit people meeting the following criteria:

  • Capital City Savings member in good standing; or
  • referred to Capital City Savings by Western Economic Diversification Canada;
  • operating or about to operate a business in the Edmonton area; and
  • willing to act as a mentor to other borrowers in the program.


To be eligible for a business micro loan, interested applicants must clearly show a commitment to starting or expanding a small business. This may involve demonstrating a significant time commitment to the start-up or management of the business and some financial stake in the potential or existing business.

What can the loans be used for?

The Capital City Savings Micro Loan Program is designed to improve access to financing for small businesses starting or expanding in the Edmonton area. This could include activities such as:

  • getting your product or service ready for sale
  • developing or enhancing your product or service
  • marketing
  • purchasing equipment or other assets
  • working capital


What are the terms of the loans?

The loan terms are designed to be flexible to help you maintain adequate cash flow throughout the year. Individual loans are subject to the following terms:

  • up to five years for repayment
  • loans can range to a maximum of $25,000
  • security for the loan at Capital City Savings’ discretion
  • Capital City Savings makes the final decision on all loan approvals
  • interest rates are set at Capital City Savings’ Prime rate * plus a risk premium

* Capital City Savings’ Prime Rate fluctuates with market interest rates


How can my company apply?

If you would like more information about this or other programs and services we offer, contact Western Economic Diversification Canada at 1-888-338-WEST (9378) or visit our Web site at www.wd.gc.ca.

For more information on programs and services available through the Capital City Savings Business Banking Centre call (780)496-2142, or visit the Web site at http://www.capitalcitysavings.ca This link leaves our Web site .

What other services may I be eligible for through Western Economic Diversification Canada?

Small and medium-sized businesses in most rural and urban centres can easily access WD's and a range of other business services through WD’s Business Service Network.

With over 100 points of service in urban and rural communities across the West, the Business Service Network is made up of several integrated organizations that provide entrepreneurs with what they need to establish a business or make it grow.

Network partners work at the local level to ensure western Canadians have direct access to information and advice on a wide range of financing alternatives and will help you determine your eligibility for those that best suit your needs. Services they offer range from marketing information and funding options, to counseling and support.For information on the services our network provides and the network member nearest you, visit http://www.wd.gc.ca/pos/default_e.asp.