New Brunswick Entrepreneur Program
The Entrepreneur Program helps unemployed New Brunswickers create jobs for themselves through self-employment.
What is provided:
- Type of assistance:
Financial assistance of up to $10.0K by way of a 2 year loan guarantee. Interest on the loan is paid by the province during the first year. Principal payments begin in the 13 th month of the loan. Participating lenders under the program include all provincial branches of the Royal Bank of Canada and National Bank of Canada as well as specific Caisse Populaires.
- Purpose:
To provide adequate funding for capital expenditures and/or working capital to enable the establishment of small businesses by unemployed persons. Businesses that exceed $50.0K in initial start-up costs are not eligible for assistance. Businesses within most sectors are eligible under the program (the majority of assistance to date has been to business start-ups within the retail and personal service sectors). The loan may not be used to re-finance existing debts, the purchase of licensed vehicles, real or commercial properties, or heavy equipment. Normally, the construction of new facilities will not be eligible.
- Applicants:
To be eligible, an applicant must:
- Be 19 years of age, unemployed, eligible to work in Canada , and not be a full-time student.
- Be located in New Brunswick , and intend to start a full-time business in New Brunswick (i.e. seasonal businesses do not qualify).
- Have not previously received funding from either the Entrepreneur Program or the former Self-Start program.
- Be able to provide a satisfactory level of equity capital (i.e. 20% cash or equity in-kind).
- Security:
Promissory note.
Department of Business New Brunswick
Business Financial Support
PO Box 6000
Fredericton , NB
E3B 5H1
1 (506) 453-3890
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