# Micro-Loan Program

**Type:** Grant
**Category:** Other Programs
**Funding Amount:** Up to CAD 15,000 CAD
**Eligible Regions:** Prince Edward Island
**Official Source:** https://www.princeedwardisland.ca/en/information/finance-pei/micro-loan-program

## About This Program

Micro-loans for PEI entrepreneurs

## Details

The Micro-Loan Program acknowledges and supports entrepreneurship on Prince Edward Island. This new loan initiative will help assist entrepreneurs with financing and working capital requirements with Finance PEI providing loans up to a maximum of $15,000 per applicant for new and expanding businesses to further respond to the needs of local entrepreneurs. New micro-loans will be sourced directly through Finance PEI with repayment terms of up to a maximum of 5 years at an interest rate of TD Bank Prime + 4.5%.

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