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Updated by NSCC Entrepreneurship on Jan 07, 2019
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Funding Sources for Small Businesses in Nova Scotia

If you're about to start a business in Nova Scotia, this list is for you! If you need money, one or more of these organizations might be able to help you.

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Traditional Banks

Traditional Banks

All of the major banks provide small business loans. Ask to meet with a small business advisor and discuss how they can help. You many be required to provide collateral for your loan, and some types of businesses may not be eligible for financing.

Credit Unions Atlantic Canada

Credit unions offer a range of specialized business services customized to individual business needs including operating lines of credit, business accounts & deposit accounts, business/farm mortgages, ATM and online banking access, commercial loans, and start-up and expansion loans/capital. They are the only financial institution to offer the Small Business Loan Guarantee Program (http://www.novascotia.coop/programs/small-business-loan-guarantee-program/) which is a joint initiative of the Nova Scotia Co-operative Council, Atlantic Central, local participating credit unions, and the Province of Nova Scotia.

CBDC | Community Business Development Corporations

Community Business Development Corporations are not-for-profit organizations dedicated to helping Atlantic Canadian business owners succeed. Financial assistance is available in the form of loans, loan guarantees and equity financing to existing and aspiring entrepreneurs. They can be found in most rural communities throughout Nova Scotia.

The Business Development Program: Business Assistance

The Atlantic Canada Opportunities Agency (ACOA) is a federal government economic development organization mandated to work with businesses, business organizations, provincial governments and other federal departments to help create more and better employment opportunities in Atlantic Canada. The Business Development Program (BDP) is designed to assist with the financing of your project. Focusing on small and medium-sized enterprises (SMEs), the program offers access to interest-free repayable assistance. For some types of projects, repayment may be contingent on the success of the project.

Black Business Initiative

Learn about the programs and services that Black Business Initiative offers to companies and aspiring entrepreneurs in the African Nova Scotian Community. BBI has both micro-loans (under $1000) and loans up to $25,000 available for Black Nova Scotians. Some personal equity is expected in order to qualify for a loan.

CEED | Centre for Entrepreneurship Education and Development

CEED helps entrepreneurs in Nova Scotia with financing, education, business growth, engaging with youth and more. If your business will have an address in the city of Halifax, the Centre for Entrepreneurship Education and Development (CEED) offers unsecured loans of up to $20,000 in a one-time request. They also offer business training programs and the calendar of upcoming workshops can be found on their webpage.

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BDC

BDC

BDC offers turnkey financing and loans for entrepreneurs, designed to protect cash flow and help grow a business.

Self Employment Services | TEAM Work Cooperative

TEAM Work Self-Employment Services works with people who are interested in self-employment and entrepreneurship: providing inspiration, connections, and support to help them reach success. They administer the RISE loan program (https://riseassetdevelopment.com/programs/individual-small-business-program/).

Futurpreneur Canada

Futurpreneur Canada is the only national, non-profit organization that provides financing, mentoring and support tools to aspiring business owners aged 18-39.