To be eligible for a business micro loan, interested applicants must clearly show a commitment to starting or expanding a small business. This may involve demonstrating a significant time commitment to the start-up or management of the business and some financial stake in the potential or existing business.

What can the loans be used for?

The micro loan program provides access to loans for small business start-up or expansion in the Edmonton area. This could include activities such as:

• getting your product or service ready for sale
• developing or enhancing your product or service
• marketing
• purchasing equipment or other assets
• working capital

What are the terms of the loans?

The loan terms are designed to be flexible to help you maintain adequate cash flow throughout the year.

Individual loans are subject to the following terms:

• up to five years for repayment
• loans can range to a maximum of $25,000
• security for the loan at Capital City Savings' discretion
• Capital City Savings makes the final decision on all loan approvals
• interest rates are set at Capital City Savings' Prime rate* plus a risk premium

* Capital City Savings' Prime Rate fluctuates with market interest rates

How can my company apply?

If you or your company is eligible, or if you would like more information about this program, call Western Economic Diversification at 1-888-338-WEST (9378), or Capital City Savings Business Banking Centre at (780) 496-2142.