Loan for Business Start-up

[atzquebec]

Hi,

Does anyone know if PR is eligible for business start-up loan either from the government or private firm.

If so what are the eligibility factor(s) and whether a collateral is required ?

 

[torontosm]

Hi,

Does anyone know if PR is eligible for business start-up loan either from the government or private firm.

If so what are the eligibility factor(s) and whether a collateral is required ?

Yes, PR's are eligible. Depending on the source (government vs. public institution vs. private institution), the qualification factors will vary. But, you can safely assume they will review the business plan, forecasts, your credit score and your background.

 

[Investocrat]

In general, loans available to Canadian citizens are also available to Permanent Residents. Eligibility requirements may vary slightly, but your credit score, credit history, and length of credit history are common benchmarks that will be assessed.
See how to get your credit score for free here.

 

[atzquebec]

Thanks.

 

[NetMecca]

I agree, eligibility not an issue. For business loans have a look at the BDC. https://www.bdc.ca/en/pages/home.aspx You might also be able to find some angel investors http://angelonenetwork.ca/ as another option, if you believe in your business enough.

Good luck