Small Business Loan Guarantee Program

Helping small business with big ideas is precisely why the Small Business Loan Guarantee Program was created.
It is the only financing program of it’s kind designed to empower small businesses in Nova Scotia to succeed.

The program is a joint initiative of the Nova Scotia Co-operative Council, Atlantic Central, local participating credit unions, and the Province of Nova Scotia. Together, we are delivering better financial assistance for the start-up and expansion of small businesses. The Small Business Loan Guarantee Program supports provincial business owners with creating and maintaining rewarding careers for Nova Scotians each year.

Credit unions are the only financial provider to offer access to the financing program, which ensures investments in our small businesses start and stay in Nova Scotia. Credit unions can provide financing up to $500,000 in the form of term loans, working capital and lines of credit. No other financing programs provide access to working capital or lines of credit to individuals who would like to start or purchase a small business and/or grow and expand an existing business.

Each application is evaluated on a case-by-case basis and is based on your business plan, viability and character. Your character? That’s right. And it doesn’t stop at the approval. The program is designed to empower Nova Scotia businesses to succeed with ongoing support, including access to a wide network of mentors for business coaching. That makes this program accessible and supportive for Nova Scotia small businesses.

Financing Details:

Loans may be granted for a term of up to of 10 years. The maximum guarantee supplied by the Province of Nova Scotia will be 90 percent of the value of all term loans. The guarantee will remain at 75 percent on lines of credit but a 90 percent guarantee may be available to those that qualify under our special financing streams.

All types of businesses are eligible except residential and commercial real estate, beverage rooms and taverns, or any venture of a questionable ethical or legal nature.

Special financing streams for immigrant entrepreneurs and social enterprises as well as the forestry and high-risk sectors are also available.

For more information, or to apply, contact your local credit union from the list on the right.

Other Programs