Small, medium, and large employers in New Brunswick whose businesses have been impacted by COVID-19 can now apply to the provincial government for loans for working capital. The new loans are to support New Brunswick-based companies. A total of $50 million has been allocated for two distinct loan programs for working capital.  Businesses can access more information about the application processes on a dedicated web page which features frequently asked questions and online resources

Companies considering a loan request should first (1) speak to their Financial Institution regarding options, (2) look for federal programs (3) and put cash flow projections together for 6 months to assess Working Capital needs.

Examples of sectors that would benefit from this support are manufacturing and processing industries, information technology and related sectors, business-to-business service sectors engaged in export, or import replacement activities, and cultural enterprises.

Capital loans below $100,000 are available through the NB Small Business Emergency Working Capital Program. To apply or get more information, visit the Community Business Development Corporation.

Opportunities NB (ONB) is making available working capital loans in excess of $100,000, up to a maximum of $1 million.

How to apply for ONB loans exceeding $100,000:

Existing ONB clients should contact their Business Development Executive or email:

  • or call the Business Navigator line, at 1-833-799-7966.

General details:

  • Company must be New Brunswick-based and have been in business for at least 24 months, and have financial statements to support the viability of the business before the COVID-19 crisis
  • Companies (proprietorships, partners or corporations) with no employees are not eligible.
  • Client must have been in good standing and current with their financial institutions, and government remittances prior to the COVID-19 pandemic, and have no prior history of bankruptcy or default.
  • Publicly traded companies are not eligible.
  • Approvals will be based on the existing ONB approval process and policies on assessment of viability going forward and ability to repay the loan.

Interest Rate: 4%

Loan Amortization – Six months of deferred principal and interest payments with interest to be capitalized from date of advance.  Interest-only payments from months 7-12.  After 12 months, loan balance including capitalized interest from the first 6 months will be amortization over 48 blended principal & interest payments. Max term 5 years.

More details on eligibility and approval processes can be requested during the application process.