Standard Loan Fund | Western Youth Entrepreneur Program
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Western Youth Entrepreneur Program

Loan Requirements:

• The owner of a new business must invest in the business project being considered.
  
  
• A complete business plan must be submitted for review to determine economic viability. You may obtain a guide to completing a plan at our office.
  
  
• The owner must be under 29 years of age.
  
  
• Minors must have a co-signer.
  

There are three types of youth loans available through the CNP BDC:

Youth Business Loan:

• Loan maximum of $25,000
  
  
• Maximum term of 5 years
  
  
• Interest rate = Royal Bank prime + 1%
  
  
• Qualifications:
  • Have three months working capital
  • Purchase hard assets
    
    

Student Business Loan (Summer):

• Loan maximum of $3000
  
  
• Maximum term of 5 months (May 1 to September 30)
  
  
• Interest rate = interest free for term of loan, Royal Bank prime on balance if an extension is required
  
  
• Qualifications:
  • Enrolled as a full time returning student
  • Operate business during summer term as a minimum
    
    

Student Business Loan (Year Round):

• Loan maximum of $3000
  
  
• Maximum term of 1 year
  
  
• Interest rate = interest free for first three months, Royal Bank prime following this
  
  
• Qualifications:
  • Full time student
  • Operate business during term of loan
  • Must provide a business plan that shows business viability