2023 Micro-Loan Program Application (New Business)

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.

- Step 1 of 6

Name *

First

Last

Please self-identify if applicable

Phone Number *

Email *

Address *

Address Line 1

Address Line 2

City

State / Province / Region

Postal Code

Business Name

(e.g., Joe’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 1 - Your Idea

1. Describe your business idea. Include the products and/or services you plan to offer. *

(e.g., “I want to establish a t-shirt printing press that prints customized local designs for fashion-conscious customers between 15-25 years.”)

2. What inspired you to start this business? *

3. Tell us more about your ideal customers. Are they local? Tourists? Online? Be as specific as possible. *

Section 2 – Your Operations

How many people do you think you will employ in your first two years of business (including yourself)? Will they be full or part-time? Will they be seasonal or year-round? *

(e.g., 1 part-time year-round accountant, 2 full-time year-round designers, 3 full-time seasonal store clerks.)

2. Describe any other resources you’ll need in the first two years. *

(e.g., Access to land, desks, computers, software, etc.)

3. What kind of training and skills development might be helpful for you or your employees to start this business?

(e.g. Basic bookkeeping, marketing, or social media.)

4. What key partnerships will be required or helpful in launching or building your business? *

(e.g., In our t-shirt business example, partnerships with stores or manufacturers might be useful.)

Section 3 – Your Market & Money Matters

1. How much demand/desire is there for your product or service? How do you know this? *

2. What is the total cost of starting your new business (your start-up budget)? *

(e.g., costs for all necessary resources mentioned above, in Section 2 – Your Operations?)

3. How much money do you expect this business to generate in your first year of operation? How much do you expect this to increase by in the second and third years? *

4. How much funding do you plan to receive from 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? *

Attach a detailed budget showing how this money will be used

Click or drag files to this area to upload. You can upload up to 5 files.

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

Section 4 – Your Story

1. Do you or your partners have experience in the specific industry that this business will operate in? If yes, please describe your experience. *

2. Do you have any experience operating a business? For example, have you owned a business in the past or have you worked at a management level for someone else? If yes, please describe your experience.

(e.g., Your title and key responsibilities.)

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.

Additional File Uploads

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

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