The Canadian Small Business Relief Bond (the CSBRB)
Over the coming months, investors in our local communities will fund the CSBRB which plans to make loans to eligible businesses who are in need of capital support due to COVID-19. To qualify for the loan, your business must have been financially viable prior to the pandemic as determined by the underwriting policies set for the program.
To qualify, businesses must meet the following minimum criteria:
- You are a small business or non-profit social enterprise
- You are headquartered and registered in Canada
- You primarily serve local customers
- Your enterprise has been negatively impacted by Covid-19
- You were a “going concern” enterprise prior to the pandemic
Register Your Intent to Apply for The CSBRB by Completing the Form Below
When you are invited to apply, you will be required to complete a loan application which will determine your eligibility and the amount of money you are able to receive. The terms of the loans available from the CSBRB are outlined below:
Structure
Business Term Loan
Loan Amount
Up to $50,000
Interest Rate
6.99%
Term
6 Year Term. Year 1 - Interest Only. Years 2-6 - 5 Years Equal Monthly Payments.
Borrowing Fee
$500 One-Time
Prepayment
No penalties for prepayment.
Use of Funds
Must provide a clear use of funds such as investment in pivot. Cannot use for tax arrears, loan arrears or refinancing.
If you want to learn more about how to invest in the CSBRB, head over to https://www.frontfundr.com/SaveOurShopsBond for more information.
