Entrepreneur Loan Program

Prince Edward Island

Government of Prince Edward Island, Finance PEI

Funding Amount

$100,000

Funding Limits

100% of eligible costs

Program Contact Details

financepei@gov.pe.ca

902-368-6200

Industry

PEI businesses except: pawnbrokers, pay day loan, cheque cashing, and white label cash machines, consulting, grocery or convenience stores, food & beverage services, fishing, farming, forestry, real estate development, real estate brokerage, bed and breakfast, motel, cottage operations, schools, charities, religious organizations, professional or financial services.

What is this funding for?

Loan for PEI entrepreneurs

Program Description

The Entrepreneur Loan Program is an initiative of the Province of Prince Edward Island designed to help make financing available for the purpose of helping new businesses get started and established firms make improvements and expand, to improve access to loans that would not otherwise be available to small businesses up to 100% of the loan request, less the recoverable taxes, and to stimulate economic growth and create jobs for Islanders. The Entrepreneur Loan Program provides entrepreneurs with up to $100,000 for use as an investment in new and existing Prince Edward Island businesses. Loans are sourced directly through Finance PEI with terms up to a maximum of seven years. Interest is charged at a floating rate of TD Bank prime plus three (3) per cent.

More Program Information

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