The Canadian Youth Business Foundation (CYBF) is a national charity providing start-up mentoring, financing and business resources to help youth start their own successful business.
The CYBF provides business start-up loans up to $15 000. Loan repayments of three or five years are available.
Partnerships
If the business is a partnership, and only one partner meets the CYBF age criteria he/she must hold at minimum 51% of the partnership and meet all other CYBF criteria and be subject to the CYBF application process. If all partners meet the CYBF age criteria, then all are subject to the CYBF application process. If any partner is a minority shareholder and is over the CYBF age limit, they are not subject to the application process.
Incorporated Businesses
If the business is incorporated, the applicant must be the majority shareholder, having at least 51% of the voting shares and be involved in the day-to-day management of the business. The applicant must also meet CYBF's age and other criteria. If the business is incorporated and there are two or more shareholders and not one person holds the majority of the shares, then the shareholders who meet the CYBF age and all other criteria must hold the majority of the voting shares and are subject to the same application process. Any shareholder who meets the CYBF age criteria must be subject to the CYBF application process.
Start-up Financing Loan Terms
Interest Rates
Fees
Newfoundland and Labrador Contact(s):
Ms.
Kimberley
Summers
Manager, Enterprise Services
Y Employment & Enterprise Services - Head Office
YMCA-YWCA of Northeast Avalon
Prince Charles Building
120 Torbay Road
St. John's, Newfoundland and Labrador
A1A 4G8
Telephone: 709-754-2982
Fax: 709-754-2870
E-mail: kim.summers@ymywca.nf.net
Web site:
http://www.ynortheastavalon.com/employ.php
Hours of operation: Monday to Friday, 8:30 AM to 4:30 PM