Canadian Youth Business Foundation

	Start-up Financing
	Entrepreneurs need money - that's no secret. We provide business start-up loans up to $15,000. Loan repayments of three or five years are available.

Eligibility Requirements
Between 18-34 years old Eligible to work in Canada Produces a complete and viable business plan Has been in business, fully operating, for less than 12 months Lives or opens the business in the community which is offering the CYBF program Has some training / experience related to their business idea Agrees to work with mentor for the duration of the loan term (three to five years) Has a business that creates full-time sustainable employment for the applicant Must hold at least 51% voting share in the business (if a partnership) Not a full-time student

Loan Details

Loan Terms Amortized over 3 years if loan is $7,500 or less Amortized over 5 years for loans over $7,500 Interest-only payments in the first year Principal repayments are made in equal monthly installments together with interest, over the remaining two to four years, depending on the amount borrowed Interest Rates First year, CIBC prime rate plus 2% Second year, conditional on timely payments, CIBC prime rate plus 1% Third and subsequent years, conditional on timely payments, CIBC prime rate Current interest rates may be obtained from CIBC at http://www.cibc.com/ca/rates/index.html Fees $50.00 CYBF loan administration fee $10.00 CYBF monthly administration fee

For more information on our start-up financing program, please see our Start-up Financing Fact Sheet and the CYBF Application Process to follow.

To complete the application documents and for any further information, you may contact our councilor in charge of the financing comity at 514 861-7253 ext. 305

For more informations about CYBF, please visit their web site at www.cybf.ca .

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