3: Financing

Provide start-up financing based on character and a great business idea.

Other Information:

Money. It’s the lifeline of any business. However, when it comes to young people looking to secure financing for their new start-up, with little to no collateral and/or student debts, it can be a daunting task. CYBF provides start-up financing based on character and a great business idea, of up to $15,000, with flexible three to five year repayment schedules, and no principal payments in the first year. Furthermore, the Business Development Bank of Canada teamed up with CYBF to provide entrepreneurs with up to an additional $30,000 to get their businesses off the ground. Plus we offer expansion financing of up to $10,000* for existing CYBF entrepreneurs. Additionally, CYBF recognizes that newcomers to Canada sometime face additional barriers. That's why our financing application process and our adjudication requirements have been adjusted to allow individuals who do not have an established credit history or long standing references to apply with different documentation. *Please referto www.cybf.ca for a complete listing of eligibility criteria and complete details related to all financing program options.

Stakeholder(s):

• Business Development Bank of Canada

Indicator(s):

Indicator:1

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