Micro Business Loans
Are you having trouble borrowing money to start your business? Earning a low income or having poor credit can prevent you from accessing financing. Momentum can help with character-based loans that provide financing where banks and lending institutions do not.
You could qualify for up to $7,500 for a first-time loan, and more after successful repayment.
Repaying a Momentum Micro Business Loan can help you build or repair your credit.
Do I qualify?
You may qualify for a Momentum Micro Loan, if you:
- Have a reasonable business idea,
- Live in Calgary,
- Do not have any undischarged bankruptcies,
- Have completed one of Momentum’s business training programs,
- Are ready, willing and able to start a business,
- Are unable to access traditional business financing, and
- Are an owner/operator with at least 51% ownership
What can I use the money for?
The loan can be used to pay for business costs, such as:
- Licensing and registration,
- Tools or equipment,
- Advertising, and
- Inventory.
How do I apply?
- Attend a business training program,
- Complete a business plan, and
- Fill out an application form.
To apply for Momentum’s business training programs, you must first attend the free Exploring Entrepreneurship orientation session.
The programs fill up fast! Signup for Exploring Entrepreneurship today. Once you have completed the orientation, you can fill out an application form for one of Momentum’s business training programs. If you qualify, you will be invited in for an interview.
Call 403.204.2671 or email businessloans@momentum.org for more information.
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