Eligibility

Full details may be found at cybf.ca
In summary you are eligible to apply for a CYBF loan if:
  • You are over 18 and under 40 years old.
  • You are eligible to work in Canada.
  • You have some training/experience related to your business idea.
  • You agree to work with a mentor for the first two years of the loan term
  • You can produce a complete and viable business plan.
  • You open the business in Ottawa or Eastern Ontario (with exceptions).
  • The business will lead to full-time sustainable employment for yourself.
  • It has been at least 5 years since your discharge if you have been bankrupt.
In addition
  • Loans are approved for new businesses (less than one year) only.
  • Network or multi-level marketing businesses are not eligible.
  • For a partnership, the principal or general partner must meet the age criteria and all other owners under the age of 40 will also be subject to the CYBF application process.
  • If the business is incorporated, you must be a majority shareholder, having at least 51% of the voting shares, and be involved in the day-to-day management of the business.
  • If the business is incorporated with more than two shareholders and no one person holds a majority share, the shareholders meeting the age criteria must collectively hold the majority of the voting shares and be involved in the day-to-day management of the business.