If you’re under 35 and want to start a business in Newfoundland and Labrador, getting financing can be hard. Banks often want collateral, credit history, or revenue—things many young entrepreneurs don’t have yet. The Kick$tart Loan Newfoundland and Labrador program was created to help with a low-interest loan just for young people in the province who can’t get other funding.
Kick$tart is a repayable business loan of up to $10,000 offered through local Community Business Development Corporations (CBDCs) across Newfoundland and Labrador. It’s for youth entrepreneurs starting or running early-stage businesses.
To qualify for the Kick$tart Loan Newfoundland and Labrador, you must:
CBDCs look at you and your business idea. They want to see a clear plan and understand how you’ll use the funds. Your plan is just as important as your age.
The Kick$tart Loan application goes through your local CBDC. The process is similar across Newfoundland and Labrador, but some details may vary by region.
Find the CBDC for your area. They’ll check if you’re eligible and explain what you need to do next.
You’ll need to provide:
Using tools like GrantHub’s eligibility matcher can help you quickly see if Kick$tart and other youth programs are a good fit for you.
Your CBDC will review your application to make sure:
Most applicants meet with a CBDC advisor. This isn’t a test. It’s a chance to talk about your idea and get advice.
If you’re approved, you’ll get loan terms that explain your repayment schedule and interest rate. Repayment starts as set out in your agreement with the CBDC.
Even for a small loan, you need a clear plan. Vague or weak plans are a common reason applications are turned down.
The Kick$tart Loan Newfoundland and Labrador is a loan. You must pay it back. Plan your cash flow so you can make payments on time.
Kick$tart is for entrepreneurs who can’t get enough financing elsewhere. Be ready to explain where you tried and why it didn’t work.
Approval isn’t instant. CBDC reviews and interviews can take a few weeks, depending on demand.
Q: How much funding can I get from the Kick$tart loan?
You can get up to $10,000 as a low-interest, repayable loan. The exact amount depends on your business needs and the CBDC’s assessment.
Q: Is the Kick$tart loan taxable income?
No, loans are not taxable income. But you should track all interest and business expenses for your taxes.
Q: Do I need to be a brand-new startup to apply?
No, but the program is for early-stage businesses. If your business is well established and you can get bank loans, you likely won’t qualify.
Q: What if I already applied for another business loan?
That’s fine. Kick$tart is for those who couldn’t get enough funding elsewhere, not those who skipped other options.
Q: How long does the application process take?
Timelines depend on your local CBDC. Most applications include a review and interview before a decision is made.
The Kick$tart Loan Newfoundland and Labrador is a helpful option if you’re a young entrepreneur with limited financing choices in the province. If you want to see more programs for your age, location, and business stage, GrantHub tracks hundreds of grants and loans across Canada to help you find what fits as your business grows.
If Kick$tart isn’t quite right, check out:
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