Small Business Loans Via Finance PEI

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Small Business Loans Via Finance PEI

Post by N Coughlin (Admin) on Wed Dec 14, 2016 8:26 am

Small Business Loan Program:

   ----->This program is designed to meet the special needs of the Prince Edward Island's small business community and entrepreneurs for the following purposes:

   purchase and/or acquisition of business
   debt consolidation
   new construction

It does not provide working capital for the Small Business sector.

Entrepreneur Loan Program:

   -----> is an initiative of the Province of Prince Edward Island designed to help increase the availability of financing for the purpose of:

   helping new businesses get started and established firms make improvements and expand
   to improve access to loans that would not otherwise be available to small businesses up to 100 per cent of the loan request less the recoverable taxes
   to stimulate economic growth and create jobs for Islanders

Entrepreneur Loan Program is designed to assist small businesses throughout the Province of Prince Edward Island providing entrepreneurs with up to $100,000 for use as an investment in new and existing Prince Edward Island businesses. Loans will now be sourced directly through Finance PEI with terms up to a maximum of 7 years. Interest is charged at a floating rate of TD Bank prime plus 3 per cent.

Micro-Loan Program:      

   ----->acknowledges and supports entrepreneurship on Prince Edward Island. This new loan initiative will help assist entrepreneurs with financing and working capital requirements with Finance PEI providing loans up to a maximum of $15,000 per applicant for new and expanding businesses to further respond to the needs of local entrepreneurs. New micro-loans will be sourced directly through Finance PEI with repayment terms of up to a maximum of 5 years at an interest rate of TD Bank Prime + 4.5%.

N Coughlin (Admin)

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