The Student Business loan program will be available on April 1st until July 15th of every year. Students will be able to apply for low interest loans (prime plus 2%) of up to $5,000 to start, expand or maintain business during the summer season. Counselling assistance and follow-up guidance will be provided to each student client.
To be eligible the applicant must:
- Be a full time student, high school, college or university. Must be
returning to full time studies in the fall; - Be between the ages of 15 and 29 at the time of application;
- Devote at least 30 to 40 hours a week to their business and cannot
have another full time summer job; - Provide a product or service and be independently and privately
owned and operated by the student and/or partners if applicable; - Obtain the co-signature of a guardian or parent; and
- Supply a written business plan detailing their business, along with a
cash flow projection of the upcoming season.
