Skip to main content

Microloans for Small Businessess

We look beyond your credit history,
when we consider a microloan for your business  
we consider YOU.

Turn your passion into your business

We look beyond your credit history when we consider a microloan for your business.  We consider YOU, your business idea, your drive, character and determination. 

Microloans up to $10,000 are available to kick start your business.

 
 

What is a Microloan?

Micro-loans are variable rate term loans made to assist small businesses or community organizations, to help start, grow, or expand their business. It is a loan that would not otherwise be made available or would be available only under less favourable terms. 
 
Eligibility for this program is to be based on community and social impact as well as the viability of the business organization.

How much loan can I apply for?

  • You can apply for up to a maximum amount of $10,000 at a term loan




What a Microloan can be used for:

  • Working Capital
  • Small scale production
  • Tools and equipment
  • Retail or office space
  • Research
  • Product development
  • Marketing
  • Other related expenses

How will my application be assessed?

  • Viability of business idea-legal and within credit union’s policy 
  • Expertise, knowledge business owner 
  • Character & Credit History (understanding your story)
  • Quality of documents submitted
 

Eligibility Criteria for Microloans

  • 18+ years of age
  • Legal resident in Canada
  • Required to work and live in areas serviced by Pathwise Credit Union
  • Operate a legal, seasonal, full time or part time small business. (does not incl. franchises & commissioned  based businesses)
  • Microloan Application
  • Personal net worth statement (PNW)
  • Business plan & projections (as appropriate)
  • Completion of Business FundamentalsTraining provided by the BACD
  • Bank account established with Pathwise
 

Microloan Application Form

Submissions will be accepted between
May 1 –May 31, 2022
Select Image
 

What are Sustainable Development Goals?



In 2015 the United Nations Member States and their Governments agreed that these 17 goals are key strategies to improve global health and education, reduce inequality and spur economic growth, all while tackling climate change and working to preserve our oceans and forests!

At Pathwise Credit Union we have agreed to focus on 5 of these goals, to engrain the value and responsibility of them in everything we do!


Watch our video

To learn more about SDG's