CYBF Start-Up Loan
Canadian Youth Business Foundation (CYBF)Applies to: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Ontario, Quebec, Saskatchewan, Yukon, Prince Edward Island
If you are between 18 and 34 years old, you can get a loan of $15,000 to start a business.
To be eligible for this loan, you must:
- create a business plan for a business that will employ you full-time
- agree to work with a mentor for two years
- not be a full-time student
- own at least 51% of your business
- meet other criteria listed on the website
You cannot use the funds to pay existing debts. The loan must be repaid and there are also administrative fees.
If you qualify for this loan, you can also apply for an extra $30,000 through the CYBF-BDC Start-Up Financing Program.
