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Welcome to CBDC NORTIP

Upcoming Events

Charlie Genge Memorial Scholarship is available to students at CNA St. Anthony Campus...more details

11th Annual Volunteer Night, April 23-29, 2017 - Plum Point Motel

CBDC Day, May 10, 2017.

CBDC NORTIP Annual Stakeholders Meeting ... October 18, 2017, Plum Point Motel beginning 10:00 AM

Revised: April 1, 2011
Programs and Services
Service Standards

 

CBDC NORTIP is one of 41 Community Business Development Corporations (CBDCs) operating in rural Atlantic Canada. The CBDCs are a network of not-for-profit organizations that work in co-operation with all levels of government and the private sector to meet the needs of small business. The CBDC's are currently being supported by the Atlantic Canada Opportunities Agency (ACOA). We are dedicated to the development of small business and job creation in rural Atlantic Canada.

Within our region, Norris Point north on the Northern Peninsula, we apply our efforts to creating economic benefits within communities and sub-regions that foster the maintenance and growth of the local economy. It is not our role to fund every request or to fund projects that may have a negative impact on other businesses or employment opportunities within the region.

The following sections outline the services we provide and what you can expect from us when accessing our programs and services.

Our Board

Our Board of Directors is comprised of volunteers from throughout our region. These individuals are selected based on location, education, experience and commitment to growing our communities for future generations. Being volunteers, they are not paid for their services to the Corporation and community. Despite their own busy lives, they normally meet every month to review applications for assistance. During each year they meet ten times, plus when demand dictates, they meet via teleconference to discuss and decide upon your requests.

Our Staff

CBDC NORTIP has one loans-business development personnel, Client Services Officer. The Client Services Officer would be your first point of contact when you have questions on our programs and services, how to access them, and the initial information you will need to supply. On staff we also have a Client Services Assistant to assist you in obtaining information about programs, client services and your account. This person is your point of contact for payment and loan detail information. The Administrator handles our accounting and processing of operational records and does not deal directly with any client related matters. CBDC NORTIP’s Executive Director would be your point of contact to express concern or dissatisfaction with the level of service provided by our service delivery staff.

We seek individuals with a university degree in business and/or relevant work experience. When hiring, we also try to ensure that a broad range of skill sets and knowledge of different sectors of the economy are available to you. Our staff generally compliment each others abilities and training.

Our Partners

Services delivered to you by CBDC NORTIP are provided by other government departments and agencies. The Atlantic Canada Opportunities Agency (ACOA) is our key partner. We contract with them for the delivery of business development service under the Community Futures Program and Client Advisory Services. Advanced Education and Skills (AES) contracts with us to deliver self employment services to its clients. Other key partners include Business, Tourism, Culture and Rural Development (BTCRD), St. Anthony Basin Resources Inc.(SABRI), Eagle River Credit Union (ERCU), College of the North Atlantic, Chambers of Commerce, Viking Trail Tourism Association (VTTA),Great Northern Peninsula Heritage Network and Rural Development Associations (RDAs).

Our Offices

CBDC NORTIP’s offices are located in Plum Point. The community is relatively central to our region, making it easier for all of our clients to access our services. The office is open from 8:30 A.M. to 4:30 P.M. from September through to May. During late May to early September (May 24th Weekend to Labour Day Weekend) the office closes a half hour early to give our staff an opportunity to participate more fully in their families and community during the more active summer months.

Communications

CBDC NORTIP uses a variety of communication tools to help you contact us. Our telephone system allows you to call us at any time, select the individual you wish to speak to and if they are not available, you can leave a private message. When you leave a message, staff will return your call as soon as they are able, if they are in the office, they will normally call back the same day.

We can also be reached by fax, email, website or in office. All staff email addresses have similar form. It is the person’s firstname.lastname@cbdc.ca, so even if the a new person is in the position, using this information you can email them directly. Our website: www.cbdcnortip.ca is alway being updated to serve you better. It contains useful information on programs, services, contact info and links to other sites and resources that may be of benefit to you. The site is maintained by our staff.

Your Privacy

The confidentiality of your information is very important to us. We work hard to earn your trust and do everything possible to keep it. Your information is protected by the Personal Information Protection and Electronic Documents Act (PIPEDA) and normal professional courtesy. We handle a lot of sensitive information and are required by law to respect the privacy of our clients. If you have any concerns about the privacy of your information, please contact the Administrator or Executive Director.

Our Services

Technical Assistance
Our staff at CBDC NORTIP can provide assistance in the preparation of a business plan. The nature of the help given is dependant on the time required. The charge at CBDC NORTIP is $35 per hour to our existing loan clients and $65 to non-loan clients for this assistance. Also, the staff at CBDC NORTIP may be able to arrange for ACOA to pay the cost of a business plan, in some circumstances. To qualify for this assistance, the proposal must be for a project that meets ACOA’s criteria for funding. An application to ACOA must result from the assistance. There may also be specific assistance available for female entrepreneurs.

Often we assist clients to access funds from other organizations. There are other business development programs through ACOA, AES, BTCRD, SABRI, BDC, chartered banks or ERCU. We will assist you in preparing the necessary documentation to the financial institution. There may be charges for some of these services.

Counselling Service
Counselling services are provided by CBDC NORTIP to clients at no charge. This service will help guide a potential applicant or client into making a decision. Information will be made available through the experience and knowledge of the counsellor and the libraries of the Canada Business Service Center contained in CBDC NORTIP office. As a member of the national network of Canada Business Service Centers, we have access to databases that are a very valuable tool in preparing a business plan or making important decision for your enterprise.

CBDC NORTIP staff can assist you with obtaining technical information to help you make decisions. Some of this information could be related to Information Technology needs and uses or e- Commerce applications. Another valuable aspect to our counselling services is helping you source the funds you need to implement your business plan. We can assist in identifying the programs and services of other organizations that can help you achieve your goals.

CBDC General Business Loan
Financial services provided by CBDC NORTIP have a limit of $150,000 with a maximum repayment term of 15 years. Interest rates vary from 7% to 13.5% depending on term, security and general level of risk associated with the application. Key factors in considering an application include competitive impact, viability, level of security pledged, owner’s contribution, credit record and management capability. The turnaround time on applications vary depending on how quickly the client provides our Client Services personnel with the necessary information to assess the application. When we have all required information on file, a decision will normally be made within three weeks. Most applications have decisions made within one week.

CBDC First Time Entrepreneur Loan
Individuals starting or purchasing a business for the first time may qualify for repayable assistance of up to $150,000. Interest rates vary from 7% to 13.5% depending on term, security and general level of risk associated with the application. Consideration will be given for the applicant being a new entrepreneur, essential business skills training is available. Key factors in considering an application include competitive impact, viability, level of security pledged, owner’s contribution, credit record and management capability.

CBDC Social/Community Enterprise Loan
Non-profit incorporated organizations engaging in commercial activities may qualify for repayable assistance of up to $150,000. Interest rates vary from prime plus 2% to prime plus 5% depending on term, security and general level of risk associated with the application. Consideration will be given for the applicant having mandate benefiting the public in a given community or region. Essential business skills training is available. Key factors in considering an application include competitive impact, viability, level of security pledged, applicant’s contribution, credit record and management capability.

CBDC Innovation Loan
Commercial ventures seeking to commercialize new products or services that represent the creation or adoption of new technology or processes may qualify for repayable assistance of up to $150,000. Interest rates vary from 7% to 13.5% depending on term, security and general level of risk associated with the application. Essential business skills training is available. Key factors in considering an application include competitive impact, viability, level of security pledged, owner’s contribution, credit record and management capability.

CBDC Youth Loan
CBDC NORTIP delivers this very valuable program for young entrepreneurs. The program provides a maximum of $150,000 per venture in the form of a low interest loan, at rates ranging from Prime plus 2% to prime plus 5%. The funding is to be used as an equity investment into the venture. These funds can provide valuable leveraging power to a person under thirty-five years of age to start or expand a business. Up to $2,000 may be available for specialized business skills training.

CBDC Small Loans Program
Applicants can receive loans of up to $25,000 with a repayment term of up to five years at rates ranging from Prime plus 2% to prime plus 5%. The loans can be used for purchase of equipment or working capital. The loans must be fully secured. The turn around time can be less than a week. An administration fee of 2% is charged that includes closing costs.

CBDC Handi-Capital Business Loan
Unique to CBDC NORTIP this valuable program assists individual with functional impairments. The program provides a maximum of $20,000 per eligible individual in the form of a low interest loan, at rates ranging from Prime plus 2% to prime plus 5%. These funds can provide valuable leveraging power or be used to cover start-up costs of a new venture. Up to $2,000 may be available for specialized business skills training.

Self Employment Assistance (SEA)
In cooperation with AES, CBDC NORTIP delivers the Self Employment Assistance (SEA) program. Through this program, a new business that does not present any additional competitive impact to our region’s economy may qualify for a living supplement to help the owner survive the first year. Counselling, training and business support services are also available.

Entrepreneurial Opportunities Program (EOP)
Administered by Metro Business Opportunities Corporation (MBO), the Entrepreneurial Opportunities Program (EOP) is sponsored by the AES. The program aims to assist qualifying individuals to be self-employed by providing financial assistance, business counselling and general business training, for a maximum of 52 weeks. One of the key eligibility requirements is that the applicant must be receiving, or be eligible for, income support benefits. The financial assistance is partly in the form of a repayable loan, to a maximum of $3,000, and a monthly payment support allowance in addition to regular income support benefits.

Youth Ventures
Youth Ventures is designed to assist students who want to start a business and create their own summer jobs. You have to be a student between the ages of 12 - 29 years of age and you must live in Newfoundland and Labrador. Youth Ventures helps you start your own business, provide one-on-one counselling, and help promote your business. This program develops entrepreneurial skills in youth by supporting summer enterprises initiated by students. Student business loans are also available to participants in the program through CBDC NORTIP.

If you are interested in receiving more information on CBDC NORTIP and its services, please complete the following form and click the submit button to send. Please note that the information provided is protected by CBDC NORTIP's privacy policy and will be treated accordingly.

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