Financial Assistance

If you’re a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland, and Labrador 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.