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Micro Business Loans

Sometimes you need a little extra support to start or expand your business. And sometimes you face difficulty getting a loan from a bank or credit union. You may be able to receive a micro loan where your character and commitment to your business are considered, which means your credit history doesn’t have to be perfect. You can apply for up to $10,000 if you have a completed any Business Development program at Momentum, have a business plan and acceptable credit history.

The loan can be used to pay for business costs, such as: licensing and registration, tools or equipment, advertising and inventory.

Duration: Repayment terms of two to three years.
Cost: Available at a 5% interest rate.

Do you qualify?

  • You have a reasonable business idea
  • You live in Calgary
  • You do not have any undischarged bankruptcies
  • You have completed one of Momentum’s business training programs
  • You are ready, willing and able to start a business
  • You are unable to access traditional business financing
  • You are an owner/operator with at least 51% ownership

Apply

To apply for this program, you must first attend Momentum’s free Exploring Entrepreneurship orientation. For more information or to sign up call us at 403.204.2657 or email business@momentum.org.

If you qualify, you will be invited for a one-on-one interview.

To be eligible for a Micro Business Loan, you must:

Financial Partners