Micro-Loan Program Application (Expansion)

Note: Only complete this application after you have met with a representative of the Cape Breton Partnership about your participation in the Micro-Loan Program. To submit your expression of interest in the program, please click here and complete the form on the that page.

Section 1 – About You

Name *

First

Last

The Micro-Loan Program is only open for applications from Women+ Entrepreneurs. Please confirm: *

I am a woman-identifying entrepreneur
I am not a woman-identifying entrepreneur

Please self-identify if applicable

Please note, the response of this question, or lack of response, will not affect your application. This question will only help identifying other supports and resources that we may be able to connect you with.

Phone Number *

Email *

Address *

Address Line 1

Address Line 2

City

State / Province / Region

Postal Code

Business Name *

(e.g., Jane’s T-shirt Printing Shop in Annapolis Royal)

Business Location *

(e.g., Sydney River; Ingonish; St. Peter’s; etc)

Name and Emails of Business Partners, if applicable

Section 2 – Your Idea

1. Describe your current business. Include how long you've been in operation *

2. Describe your new idea or expansion. Include the products and/or services you plan to offer. *

(e.g., “I want to expand my gift shop to include a t-shirt printing press with custom local designs available for printing that appeal to customers between the ages of 15 and 25.”)

3. Why do you want to expand/change your business? Why do you want to do it at this time? *

4. Tell us more about your current customers? Are they local? Tourists? Online? Will this change as a result of the expansion or updating? *

Section 3 – Your Operations

1. Will this expansion/update change or add to the core services you currently provide? Do you have any experience in this new area? If yes, please describe your experience. *

2. How many jobs do you expect this expansion or update to create (if any)? Will they be full or part-time? Will they be seasonal or year-round?

3. Describe any new equipment, tools, or training needed in order to ensure a successful expansion or upgrade. *

(e.g., Additional land or building space, desks, computers, software, training programs for yourself or your employees, etc.)

Section 4 – Your Market & Money Matters

1. How have you determined that there is a desire or need for this expansion or upgrade? Tell us about the market research you have done. *

2. How much money do you currently have invested in this business? Are you taking a regular salary? *

3. What are your current annual sales? Do you expect that to increase? *

4. Are you seeking funding from other sources like banks, investors, family, partners, etc.? Will you personally be contributing any funding? *

5. As noted on the Cape Breton Partnership’s website, and with very few exceptions, the funding cap for this program under the Sydney Credit Union and East Coast Credit Union is $10,000. How much money do you want to borrow from the appropriate Credit Union? *

6. Please detail how this loan will be allocated in support of your business expansion. *

Please show all known costs that this loan will be used for to add up to your total loan amount. Please be descriptive where possible.

7. Have you ever declared personal bankruptcy? If yes, what year? Answering yes does not eliminate you from consideration. *

Section 5 – Your Additional Info

1. Share a bit about yourself (and your partners, if applicable) – tell us the kind of work you’ve done or anything else you think we should know in support of your business idea.

2. Include or attach any other information that you think might support your application, such as a business plan, budgets, quotes, estimates, image of product, samples, or a prototype etc.

3. Additional File Uploads

Click or drag files to this area to upload. You can upload up to 10 files.

Your application will not be considered complete until you have submitted a simple budget plan, which our team will forward to your provided email address. *

I understand.

Please note that once the Credit Union has received your application, they will ask you to complete a Personal Net Worth Form and ask for other related tax documents.

Name