Business Financing

The purpose of the Business Financing Program is to provide financial assistance for the establishment of new businesses and the expansion of existing operations that represent the potential for net economic benefit to the province. Assistance is primarily by way of loans but other types of assistance may be considered.

Eligibility Criteria

Manufacturing, processing, high technology, aerospace, pharmaceutical and environmental technology based industries are a focus for assistance, although businesses in other sectors of the economy are also eligible.

The following businesses are not eligible:

• Charitable clubs and organizations
• Residential or rental accommodation, except for tourist facilities
• Lending, financial and insurance businesses
• Real estate development
• Retail, wholesale
• Construction
• Taverns, lounges, billiard halls and similar establishments
• Businesses not owned by Nova Scotian residents
• Businesses not registered under the laws of Nova Scotia

Eligible Activities

Financial assistance is focused on the manufacturing, processing, and technology sectors and is directed at businesses in the start-up or expansion phase.

Summary

Assistance Program

Financial assistance may be provided for the following purposes:

• purchase of land and improvements to land
• purchase or construction of buildings and other structures, expansions or renovations to existing buildings and other structures where these structures are used in the business
• construction, purchase or lease back of machinery, equipment, furnishings and other fixed assets
• provision of working capital and equity based financing in certain limited and well defined circumstances.

Rates and Fees - Interest rates are comparable to the current market rates for fixed rate term loans.

Repayment Terms - Amortization terms are flexible and tailored to meet clients needs but do not normally
exceed the productive life of the asset being acquired.

Prepayment - Loans may be prepaid at any time without interest or penalty.

Security - Loans are normally secured by a fixed charge on the assets being financed and/or other available
security.

The foregoing information originates with an organization not subject to the Official Languages Act and is available on this site in the language in which it was written.

Le texte précédent provient d'un organisme qui n'est pas assujetti à la Loi sur les langues officielles et il est mis à la disposition du public dans la langue d`origine.

Nova Scotia Contact(s):
Nova Scotia Business Inc.
Suite 701
World Trade & Convention Centre
1800 Argyle Street
P.O. Box 2374
Halifax, Nova Scotia  B3J 3E4
Telephone: 902-424-6650
Fax: 902-424-5739
Toll-free (information): 1-877-297-2124 (in Nova Scotia) 1-800-260-6682 (in North America)
E-mail: nsbi@gov.ns.ca
Web site: http://www.novascotiabusiness.com/services/advisory/index.html