Microloans for Small Businessess
We look beyond your credit history,
when we consider a microloan for your business
we consider YOU.
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.
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
May 1 –May 31, 2022
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