MONTREAL - The Business Development Bank of Canada (BDC) is offering a new loan for business start-ups. The loan, named Co-Vision, is meant for companies in the start-up or early growth phases who can prove that they have realistic sales potential. Entrepreneurs are eligible to receive up to $100,000 that is then paid back over a six-year period. Along with these terms there is the option to defer principal payments for 12 months.

The loan is being aimed at businesses in the manufacturing, distribution, services and tourism sectors. Applicants must fulfill particular criteria which includes knowledge and experience with the business sector, investment of current resources, and the management team. Eligibility is based on relevant knowledge and experience with the business sector, the management team.

Business owners who receive the loan can use it for a variety of funding needs such as working capital, acquisitions, marketing, and franchise purchase.

For more information on Co-Vision visit the BDC’s website at www.bdc.ca.

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