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SaltWire's Atlantic regional weather forecast for October 5, 2023 | SaltWireST. JOHN'S, N.L. — Credit Union across Newfoundland and Labrador are partnering with the provincial government for the creation of a new guaranteed loan program for small businesses.
The province has set aside $5 million for the pilot program which guarantees any Credit Union loans to small businesses over the next two years will have portions repaid by the province if the business cannot foot the bill. “We are pleased to work with credit unions in this province to help small businesses thrive as part of our provincial economy,” said Finance Minister Siobhan Coady.
“This pilot program provides credit unions with the ability to offer financing to our local business community as they grow their operations.” Program details, eligibility requirements and information on the application process are available at the following participating Credit Union branches:
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