CYBF Succession Financing
Canadian Youth Business Foundation (CYBF)Applies to: All of Canada
You can get up to $15,000 to buy an existing business, if you:
- are between 18-34 years old
- are a permanent Canadian resident
- have created a business plan
- agree to work with a mentor
- live in a community that offers the CYBF financing program
- are not a student
- have some training or experience in the type of business you chose
- will not use the money to pay off existing debt
You must own 51% of the business by the end of the fifth year of purchase. The loan must be repaid, with interest, over a period of three to five years, depending on how much you borrowed.
