What's the most ridiculous regulation in Canada?
Meet the top offenders and choose the worst!
Finance PEI recently implemented a new micro-loan program, a loan initiative for entrepreneurs which will help provide them with both financing and working capital.
Finance PEI will provide loans up to $15,000 per applicant for new and expanding businesses to further respond to the capital needs of entrepreneurs.
New categories for the micro-loans include: trades; qualification recognition; small-scale food production; business start-up; and winter production financing.
Who could apply for the new micro-loans?
The Department of Economic Development and Tourism aims to foster a culture of entrepreneurship through its support services, which will contribute to PEI’s sales effort, recruitment, and retention needs to build a strong economy.
A $1 million cap is being put on the program and the province plans to review it each year to see the cap should change.