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Financial Assistance

If you’re a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland you may be eligible for a loan. We offer three types of loans: Capital Equipment Acquisition, Working Capital, or Short-term receivable financing.

  • 10% equity from client of total project cost
  • Interest rate based on risk assessment
  • $25,000 maximum
  • Repayment terms vary
  • Requires board approval
  • $100 administration fee
  • The first year is interest-free, paid by the BBI

  • $5,000 or less
  • Same conditions apply as regular loan programs
  • Requires only approval of micro loan committee made up of CEO and two board members
  • $100 administration fee
  • The first year is interest-free, paid by the BBI

Who is eligible for BBI Financing?

  • Your business must be a registered proprietorship, partnership, or limited company.
  • Your business must have a viable business plan with a two-year cash flow projection, a suitable management strategy, and the ability to repay the loan.
  • The owner(s) of your business must self-identify as Black. If the business has multiple owners, the founders or leadership team have one of three individuals who self-identify as Black (33% at a minimum).

We do not provide loans to the following businesses and/or for the following purposes:

  • To finance of existing loans or obligations, purchase of vehicles, financial transactions between related business or individuals.
  • To finance a business like an existing business owned by the applicant or family.
  • Those who have defaulted previous BBI loans.
  • To residential and rental accommodations, financial and insurance agencies.
  • To real estate and land development, taverns, beverage rooms and lounges.
  • Or to any business activity deemed not to be in the best interest of the community or province.