Loan Programs are available for Immigrants to start small businesses

Immigrants coming to the country can avail business loans to set a new business with a comparatively smaller volume.

There are various programs under which support is extended by recognized financial bodies to provide loan to small immigrant investors.

The financing programs are run by the government and by the private financial bodies too. They are all meant to extend support to the newcomers who have all the skills and wishes but lack money to start a new business in Canada.

Canadian Youth Business Foundation Program (CYBF)

This program supports immigrants in the age range of 18 to 39 years wherein the loan amount can be up to $15,000. You must carry a well thought business plan along with reference letters. You Bank should give you confirmation on your recent account status.

You have the option of repaying the loan even a little after 3 years, though the interest are payable in the first year itself.

Support extended by CYBF

• Apart from caning you the fund available, CYBF gives you an initial training on financing and running your business in Canada. They also help you to understand the customs, culture and language of the country.

• You can join “Community partners” who will help you to make you run your business more successfully. You can learn business models through your partners and perform even better.

• Credit history is not required for you to avail the loan if the amount is up to $7,500.

• CYBF provides you with a mentor to keep guiding you at every step.

• Online helps are available to understand the ways of starting, running and meeting your business targets.

• The program also helps you to take over an existing Business and you cane expect a considerable amount of financing for this too.

The fund amount

CYBF can sanction you $15,000 and you can expect to get double this amount from Business Development Bank of Canada.

Apart from the government you can think of getting help from private financing agencies, though the support from the Government is unparalleled.

Such a step does not only help the immigrants but also the natives as starting a business would open up job opportunities for the people of Canada.

Immigration Frauds

Tue, 07/01/2014 - 11:12

Claudia Arreola, 35, of El Monte, owner of Los Angeles- based California Immigration Services and her employee, Leticia Gutierezz, 35 of Pico Rivera were taken into custody on Thursday for allegedly filing fraudulent green card applications on...

Money Matters

Sun, 07/13/2014 - 17:20

It provides them with the opportunity to give to their community. Lawyers provide a valuable service, and one that not everyone can afford.

In the wake of an economic downturn many people in need of legal expertise are unable to access it due to a lack of finances. Through pro bono work, many individuals in need are able to get access to the justice that's entitled to everyone.

If you're looking for a pro bono lawyer in Canada, there are a few important...

CIC Announcements

Thu, 08/14/2014 - 10:07

Lets together find out the requirements and eligibility criteria for getting Canada citizenship.

Requirements for Canada citizenship—Do you want to know about the requirements to be fulfilled for becoming a Canada citizen?

Well, you need to know that for obtaining Canada citizenship, you need to meet several conditions. Consider, for...