Programs

You received CYBF support in the early stages of your business and now you are ready for some additional support to help grow your business. The Canadian Youth Business Foundation (CYBF)’s Expansion Program supports entrepreneurs who meet the following criteria:

Basic requirements for all applicants

• Between 18-34 years old
• Canadian citizen or a permanent resident of Canada
• Received the initial CYBF loan 36 to 60 months ago (through the CYBF Start-up or Newcomer Programs) and the business has been operating continuously since then
• Entrepreneurs who are still repaying their initial CYBF loan or who have completed repayment on that loan are eligible
• Applicant is employed full-time in the business
• Repayments of the initial CYBF loan are up-to-date
• Loan proceeds may NOT be used for refinancing existing debt

 For partnerships and incorporated businesses

• In addition to meeting the basic criteria, applicants who meet the age criteria must have at least 51 per cent of the voting shares and be involved in the day-to-day management of the business.
• All partners that meet the CYBF age criteria are subject to the CYBF application process. If any partner is a minority shareholder and is over the CYBF age limit, they are not subject to the application process.

 For incorporated businesses with more than two shareholders

• In addition to meeting the basic criteria, if there are more than two shareholders and no one majority shareholder, shareholders who meet the age criteria must collectively hold the majority of the voting shares, be involved in the day-to-day management of the business, and take direct responsibility for operational liability.

Double Up!

Once you are approved for expansion funding from CYBF, you may also be eligible to receive additional financing for increased financial support. This opportunity is made possible through CYBF’s partnership with the Business Development Bank of Canada (BDC), and is only available through CYBF.

Eligibility for BDC funding: 

• Be approved for CYBF Expansion financing
• Applicant must have a minimum investment of 10 per cent¹ of the total value of the project (including the transfer of personal assets)
• Existing CYBF clients have up to 30 days from the date CYBF provides approval for their funding, to apply for BDC financing
• Meet BDC’s eligibility as per the Application for Financing Form² and environment policies where applicable; all applications are subject to a final review by BDC
• Excluded: existing BDC clients and applicants who currently have another financing application pending with BDC

¹ Proof can be shown by way of invoices for items purchased for the company; items transferred to the company by the owner or through bank statements with adequate deposit balances.

² Legal problems, bankruptcy/insolvency, taxes, criminal record, permits/licenses, ineligible activities etc.