Micro-Loan Program for Cape Breton – Unama’ki Female Entrepreneurs (2021-2022)
New businesses create new employment opportunities, and both directly benefit the Cape Breton – Unama’ki economy. That is why the Cape Breton Partnership and Sydney Credit Union have joined together to announce the second round of a micro-lending program for female entrepreneurs in Cape Breton – Unama’ki.
Under the Micro-Loan Program, female entrepreneurs from across Cape Breton – Unama’ki will be eligible to apply for a loan of up to $10,000. The program’s second round officially opens on December 7, 2021 and will run for three months or until the program funds are allocated.
All financial aspects of the loan will be managed by the Sydney Credit Union, and the Cape Breton Partnership will provide access to mentors, programs, and additional resources that participating entrepreneurs may require such as business planning, support for export, immigration and economic research. Participants will also commit to submitting monthly status reports to the Cape Breton Partnership.
Each application will be evaluated and considered on a case-by-case basis and will use the Sydney Credit Union’s existing adjudication and due diligence process in making decisions to grant loans. The loans would be at a non-compounding rate of four per cent, with zero percent interest for the first six months.
If you have any questions, or would like to receive an off-line version of the application, please contact Jenna Lahey, Workplace Inclusion Manager, at email@example.com.
Local Cape Breton – Unama’ki entrepreneurs are also encouraged to visit EntrepreneurCB.com for further resources and supports!