BNB-Entrepreneur Program

This document is based on information from Business New Brunswick Web site as of January 2008.

The Entrepreneur Program helps unemployed New Brunswickers create jobs for themselves through self-employment.

Eligibility Criteria

To be eligible, an applicant must:

• Be 19 years of age or older, 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).

Summary

Type of assistance:
Financial assistance of up to $10,000 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 13th 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 Caisses 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 $50,000 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.

Security:
Promissory note

How do I apply?

The Community Business Development Corporations (CBDCs) are currently providing program assessment and recommendations to Business New Brunswick. To apply for the Entrepreneur Program, contact your local CBDC (see list below).

If you require assistance with your business plan or business development, the Enterprise Network Agencies  can help you. Contact your local agency for more information.

For information on other employment programs, call the Department of Post-Secondary Education, Training and Labour at 506-453-3818 or visit their Web site at: http://www.gnb.ca/0311/index-e.asp.

New Brunswick Contact(s):
CBDC Chaleur
Community Business Development Corporations
Suite 212-J
275 Main Street
Bathurst, New Brunswick  E2A 1A9
Telephone: 506-548-5951
Fax: 506-548-5008
Web site: http://www.cbdc.ca/index.php?rid=6

CBDC Charlotte/Kings
Community Business Development Corporations
Suite 202
123 Milltown Boulevard
P.O. Box 455
St. Stephen, New Brunswick  E3L 1G5
Telephone: 506-466-5055
Fax: 506-466-4859
Web site: http://www.cbdc.ca/index.php?rid=11

CBDC Kent
Community Business Development Corporations
190 Irving Boulevard
Bouctouche, New Brunswick  E4S 3L7
Telephone: 506-743-2422
Fax: 506-743-1033
Web site: http://www.cbdc.ca/index.php?rid=15

CBDC Madawaska
Community Business Development Corporations
24 St-François Street
Edmundston, New Brunswick  E3V 1E3
Telephone: 506-737-8925
Fax: 506-737-8922
Web site: http://www.cbdc.ca/index.php?rid=9&

CBDC Northumberland
Community Business Development Corporations
158 Wellington Street
Miramichi, New Brunswick  E1N 1L9
Telephone: 506-778-2121
Fax: 506-778-2224
Web site: http://www.cbdc.ca/index.php?rid=16

CBDC Péninsule Acadienne
Community Business Development Corporations
439 du Moulin Street
P.O. Box 3666, Main Station
Tracadie-Sheila, New Brunswick  E1X 1G5
Telephone: 506-395-9700
Fax: 506-395-5672
Web site: http://www.cbdc.ca/index.php?rid=7&

CBDC Restigouche
Community Business Development Corporations
95 Roseberry Street
P.O. Box 1089
Campbellton, New Brunswick  E3N 2G6
Telephone: 506-753-3344
Fax: 506-753-7131
Web site: http://www.cbdc.ca/index.php?rid=8&

CBDC Southwest
Community Business Development Corporations
Suite 112
1910 Route 3
Harvey Station, New Brunswick  E6K 2P4
Telephone: 506-366-3022
Fax: 506-366-3444
Web site: http://www.cbdc.ca/index.php?rid=12&

CBDC Victoria Madawaska-South
Community Business Development Corporations
Suite 300
551 Main Street
P.O. Box 7295
Grand Falls, New Brunswick  E3Z 2W4
Telephone: 506-473-6446
Fax: 506-473-1280
Web site: http://www.cbdc.ca/index.php?rid=10

CBDC Westmorland Albert
Community Business Development Corporations
337A Main Street
Shediac, New Brunswick  E4P 2B1
Telephone: 506-532-8312
Fax: 506-532-1373
Web site: http://www.cbdc.ca/index.php?rid=13&