Business Loans in New Brunswick
New Brunswick is Canada's only officially bilingual province, home to over 27,000 small and medium-sized businesses operating under a 15% HST. Apply online in minutes for a business loan tailored to New Brunswick's market, with a straightforward process from application to funding.
Written by Uriel Manseau, B.Eng., M.Sc. Applied MathematicsStep 1 of 3
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What are business loans in New Brunswick?
New Brunswick has over 27,000 small and medium-sized businesses, supported by ACOA (the Atlantic Canada Opportunities Agency), a network of 10 Community Business Development Corporations, and provincial programs run through Opportunities New Brunswick. Business loans in New Brunswick come from major banks, credit unions, the Business Development Bank of Canada (BDC), CBDCs, and alternative lenders. New Brunswick's business lending environment has several distinctive features. First, the province is served by the Atlantic Canada Opportunities Agency (ACOA), the federal regional development agency for Atlantic Canada. ACOA's Business Development Program provides interest-free, repayable contributions covering up to 75% of eligible project costs for small and medium-sized businesses. In 2024, ACOA invested $57 million across 208 projects in New Brunswick alone. Second, Opportunities New Brunswick (ONB) is a provincial Crown corporation that attracts international investment and helps local businesses navigate financing, grow, and export. ONB provides up to $30,000 for small business export and market development activities, along with working capital loans of up to $5 million for qualifying businesses. Third, New Brunswick has a deep network of Community Business Development Corporations (CBDCs), with 10 offices across the province. CBDCs offer loans for first-time entrepreneurs (up to $150,000), youth entrepreneurs aged 18 to 34, innovation-focused businesses, and women-owned businesses. CBDCs are funded through ACOA's Community Futures Program, which allocated over $3 million to New Brunswick CBDCs for the 2024-2025 fiscal year. UNI Financial Cooperation, New Brunswick's largest homegrown financial institution with $5.2 billion in assets and 157,000 clients, offers business loans and commercial financing with bilingual service across the province. The Canada Small Business Financing Program (CSBFP) is available through any participating New Brunswick lender, covering loans up to $1 million for equipment, leaseholds, and commercial property. The Financial and Consumer Services Commission (FCNB) is the province's integrated financial regulator, overseeing credit unions, insurance, securities, and consumer protection.
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Types of business loans available in New Brunswick
- CSBFP loans (up to $1 million) for equipment, leaseholds, and commercial property through any participating New Brunswick lender, with the federal government guaranteeing up to 85% of the loan
- ACOA Business Development Program interest-free repayable contributions covering up to 75% of eligible project costs for New Brunswick SMEs investing in innovation, productivity, or market expansion
- UNI Financial Cooperation commercial loans from New Brunswick's largest homegrown financial institution, with bilingual service and 157,000 clients across the province
- CBDC loans for first-time entrepreneurs (up to $150,000), youth entrepreneurs aged 18 to 34, innovation projects, and women-owned businesses through 10 offices across New Brunswick
- BDC term loans ($25,000 to $100,000+) available through BDC offices in Moncton, Fredericton, and Saint John
- Opportunities New Brunswick working capital loans (up to $5 million) and export development support (up to $30,000) for businesses growing or entering new markets
- NBIF Startup Investment Fund pre-seed and seed equity investments from the New Brunswick Innovation Foundation's $100 million fund for tech-focused New Brunswick companies
- Futurpreneur loans (up to $60,000 including BDC co-lending) for New Brunswick entrepreneurs aged 18 to 39, plus two years of mentorship
Eligibility for business loans in New Brunswick
- ✓New Brunswick-registered business (sole proprietorship, partnership, or corporation registered through Service New Brunswick)
- ✓Minimum 6 to 12 months in operation for most lenders (startups qualify for Futurpreneur, CBDC first-time entrepreneur loans, BDC startup programs, and NBIF)
- ✓Annual revenue of $50,000+ for conventional loans (lower thresholds for CBDCs and microlenders)
- ✓Personal credit score of 600+ for the business owner (some alternative lenders and CBDCs accept lower scores)
- ✓Business plan required for CSBFP, BDC, ACOA, CBDC, and NBIF applications
- ✓Valid New Brunswick photo ID (NB driver's licence or government-issued ID) and proof of business address in New Brunswick
How much can you borrow for a business in New Brunswick?
New Brunswick business loan amounts depend on the program and lender. CSBFP loans cover up to $350,000 for equipment and leasehold improvements, plus up to $1 million total when including commercial property. ACOA's Business Development Program provides interest-free contributions covering up to 75% of project costs, with no fixed cap. UNI Financial Cooperation offers commercial loans and lines of credit with locally based decisions across New Brunswick. BDC offers term loans starting at $25,000 with offices in Moncton, Fredericton, and Saint John. CBDCs across New Brunswick provide loans up to $150,000 for first-time entrepreneurs, with additional programs for youth and innovation. Interest rates for conventional business loans in New Brunswick range from prime + 1% to prime + 5% depending on your risk profile. CSBFP loans are capped at the lender's prime rate plus 3%. ACOA contributions are interest-free, making them among the most affordable financing options available. New Brunswick charges a 15% Harmonized Sales Tax (HST), combining the 5% federal GST and 10% provincial component. When you finance a $200,000 equipment purchase, the HST adds $30,000 to the total cost. This is higher than Alberta's 5% GST-only environment and Manitoba's 12% combined rate, but comparable to Nova Scotia's 15% HST. New Brunswick businesses should factor HST into the total financed amount when comparing loan options. The New Brunswick Personal Property Registry is where lenders register security interests (liens) on business assets used as collateral. Before taking out a secured business loan, verify that no existing liens are registered against the assets you plan to pledge.
Pros and cons of business loans in New Brunswick
Pros
- + ACOA's Business Development Program provides interest-free, repayable contributions covering up to 75% of eligible project costs, a funding advantage unique to Atlantic Canada that businesses in Ontario or Alberta cannot access
- + The Small Business Investor Tax Credit (SBITC) gives individual investors a 50% non-refundable provincial tax credit on qualifying investments of up to $250,000 in eligible New Brunswick businesses, making it one of Canada's most generous investor incentives
- + New Brunswick is Canada's only officially bilingual province, giving businesses a natural advantage for serving both English and French-speaking markets across Canada and internationally
- + UNI Financial Cooperation, with $5.2 billion in assets and 157,000 clients, provides bilingual commercial lending with decisions made locally in New Brunswick
- + The New Brunswick Innovation Foundation (NBIF) manages a $100 million fund focused on pre-seed and seed investments in NB tech companies, plus innovation vouchers up to $80,000 for R&D
Cons
- - New Brunswick's 15% HST is among the highest combined sales tax rates in Canada, adding significantly to the cost of financed equipment and goods compared to Alberta (5%) or Manitoba (12%)
- - The province's economy is smaller than Ontario's, BC's, or Alberta's, meaning the pool of alternative and fintech lenders with New Brunswick-specific offerings is more limited
- - While Moncton, Fredericton, and Saint John are well-served by business lenders, rural New Brunswick communities rely heavily on CBDCs and UNI branches for in-person service
- - ACOA contributions require detailed applications and project reporting, and approval timelines can stretch beyond those of conventional bank loans
Comparing business lenders in New Brunswick
| Feature | UNI Financial Cooperation | ACOA (BDP) | BDC | CBDCs |
|---|---|---|---|---|
| Typical loan range | $25K - $5M+ | Varies (up to 75% of costs) | $25K - $100M+ | $5K - $150K |
| Interest rates | Prime + 1% to 4% | Interest-free | Prime + 2% to 4% | Prime + 2% to 6% |
| CSBFP eligible | Yes | N/A (separate program) | No (BDC has own programs) | Some locations |
| NB-specific focus | Yes (NB headquartered) | Yes (Atlantic Canada) | 3 NB offices | 10 NB offices |
| Startup friendly | Case by case | Yes (with business plan) | Yes (startup loans) | Yes |
| Application speed | 1 - 3 weeks | 4 - 12 weeks | 2 - 6 weeks | 2 - 4 weeks |
Tips for getting a business loan in New Brunswick
- 1.Start with ACOA before taking on commercial debt. The Atlantic Canada Opportunities Agency provides interest-free, repayable contributions covering up to 75% of eligible project costs. ACOA is a relationship-based agency, so contact your regional office first (1-888-576-4444) rather than submitting a cold application.
- 2.Check the CSBFP through your bank or credit union. The Canada Small Business Financing Program guarantees loans up to $1 million for equipment, leaseholds, and property. The government guarantee covers up to 85% of the loan, improving your approval chances.
- 3.If you are raising equity, leverage the SBITC. New Brunswick's Small Business Investor Tax Credit gives individual investors a 50% non-refundable provincial tax credit on qualifying investments of up to $250,000. The credit can be carried forward seven years or back three years, making New Brunswick one of the most attractive provinces for angel investment.
- 4.For rural New Brunswick businesses, contact your local CBDC. The province has 10 Community Business Development Corporations offering loans up to $150,000 for first-time entrepreneurs, plus specialized programs for youth (18-34), women-owned businesses, and innovation-driven companies.
- 5.Explore Opportunities New Brunswick (ONB) for export support. ONB provides up to $30,000 for small business export and market development activities, covering trade shows, market research, and business development travel.
- 6.If you are building a tech company, apply to NBIF for pre-seed or seed equity. The New Brunswick Innovation Foundation manages a $100 million fund and also offers innovation vouchers of up to $80,000 for R&D conducted at a New Brunswick research institution.
Responsible business borrowing in New Brunswick
Borrow only what your business can repay from operating cash flow. Before signing, calculate the total cost of borrowing including interest, fees, and New Brunswick's 15% HST on financed goods. New Brunswick businesses can access guidance through their local CBDC office or Opportunities New Brunswick. For businesses struggling with debt, contact the Credit Counselling Society (1-888-527-8999), a non-profit serving New Brunswick, or speak with a Licensed Insolvency Trustee. The Financial and Consumer Services Commission of New Brunswick (FCNB) is the province's integrated financial regulator, overseeing credit unions, insurance, securities, and consumer protection. FCNB requires full cost-of-credit disclosure on consumer lending. For complaints about financial services, contact the Financial Consumer Agency of Canada (1-866-461-3222).
Sources
- Atlantic Canada Opportunities Agency (ACOA)
- ACOA Business Development Program
- Opportunities New Brunswick (ONB)
- New Brunswick Small Business Investor Tax Credit (SBITC)
- Community Business Development Corporations (CBDC)
- ACOA Investment in New Brunswick CBDCs (Feb 2025)
- New Brunswick Innovation Foundation (NBIF)
- Financial and Consumer Services Commission (FCNB)
- UNI Financial Cooperation
- New Brunswick HST and Provincial Taxes
Frequently asked questions
What is ACOA and how does it fund New Brunswick businesses?
The Atlantic Canada Opportunities Agency (ACOA) is the federal regional development agency serving New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. ACOA's Business Development Program (BDP) provides interest-free, repayable contributions covering up to 75% of eligible project costs for small and medium-sized businesses. Projects can include innovation, productivity improvements, equipment purchases, and market expansion. In 2024, ACOA invested $57 million in 208 projects across New Brunswick. ACOA is a relationship-based agency with continuous intake year-round, so contact your regional office first at 1-888-576-4444.
What is the New Brunswick Small Business Investor Tax Credit?
The New Brunswick Small Business Investor Tax Credit (SBITC) gives individual investors a 50% non-refundable provincial income tax credit on qualifying investments of up to $250,000 per year in eligible New Brunswick businesses. The maximum credit per individual investor is $125,000 per year. Corporations and trusts receive a 15% non-refundable credit on investments of up to $500,000 (maximum credit of $75,000). Unused credits can be carried forward seven years or back three years. Eligible businesses must be incorporated in New Brunswick, have net tangible assets under $40 million, and pay at least 75% of wages to New Brunswick residents. Businesses register with the New Brunswick Department of Finance before issuing tax credit certificates to investors.
What role does UNI Financial Cooperation play in NB business lending?
UNI Financial Cooperation, formerly known as Caisse populaire acadienne, is New Brunswick's largest homegrown financial institution with $5.2 billion in assets, 900 employees, and 157,000 clients. Founded in 1936 in Petit-Rocher, UNI provides commercial loans, lines of credit, and agricultural financing with fully bilingual service across the province. UNI's headquarters are in Caraquet on the Acadian Peninsula. As a credit union (caisse populaire), UNI makes lending decisions locally in New Brunswick, and its size gives it the capacity to handle commercial loans from small business startups through to large-scale projects. UNI is regulated by the FCNB.
What are CBDCs and how do they help NB businesses?
Community Business Development Corporations (CBDCs) are a network of 10 non-profit organizations across New Brunswick that provide business loans, coaching, and training to entrepreneurs in rural and underserved communities. CBDCs are funded through ACOA's Community Futures Program, which allocated over $3 million to New Brunswick CBDCs for the 2024-2025 fiscal year. Key CBDC loan programs include the First-Time Entrepreneur Loan (up to $150,000), Youth Loan (ages 18 to 34), Innovation Loan for productivity and technology, and the KICK$TART program (up to $10,000 for youth startups). Between 1995 and March 2024, CBDCs across Atlantic Canada disbursed 41,105 loans valued at nearly $1.7 billion.
How does New Brunswick's 15% HST affect business loan costs?
New Brunswick charges a 15% Harmonized Sales Tax (HST) on most goods and services, combining the 5% federal GST with a 10% provincial component. When you finance a $200,000 equipment purchase, the HST adds $30,000 to the total cost, which gets folded into the loan balance. New Brunswick's 15% HST is the same as Nova Scotia's and Newfoundland and Labrador's, higher than Ontario's 13% or Manitoba's 12% combined rate, and significantly more than Alberta's 5% GST-only. New Brunswick businesses that export goods outside the province can claim Input Tax Credits (ITCs) to recover HST paid on business inputs, which reduces the effective borrowing cost.
What is the NBIF and who qualifies for its funding?
The New Brunswick Innovation Foundation (NBIF) is an evergreen venture capital organization backed by a $100 million fund that provides pre-seed and seed equity investments in New Brunswick tech companies. NBIF focuses on strategic sectors including information and communication technology, industrial fabrication, biosciences, value-added wood and food, aerospace and defence, and energy. Beyond direct investment, NBIF offers Innovation Vouchers of up to $80,000 (covering 80% of R&D costs) for research conducted at a New Brunswick institution, and the Corporate Cleantech Innovation Fund provides up to $250,000 in non-dilutive funding for cleantech projects. NBIF also operates a fund-of-funds strategy and supports a network of business accelerators and incubators across the province.
What is Opportunities New Brunswick and what financing does it offer?
Opportunities New Brunswick (ONB) is a provincial Crown corporation that attracts international investment and helps New Brunswick businesses navigate financing, grow, and export. ONB provides up to $30,000 for small business export and market development activities, covering trade shows, market research, marketing materials, and business development travel. For larger businesses, ONB can facilitate working capital loans of up to $5 million. ONB's Business Navigators work directly with business owners to connect them with the right provincial and federal funding programs. ONB also manages payroll rebate programs and coordinates with ACOA and other agencies to align support for high-potential projects.
Can a startup get a business loan in New Brunswick?
Yes, New Brunswick startups have several funding paths available. CBDCs offer the First-Time Entrepreneur Loan of up to $150,000 through 10 offices across the province, plus the KICK$TART program of up to $10,000 for youth startups. Futurpreneur offers up to $60,000 (for ages 18 to 39) with BDC co-lending and two years of mentorship. NBIF provides pre-seed and seed equity for tech startups from its $100 million fund, plus innovation vouchers of up to $80,000 for R&D. ACOA's Business Development Program accepts startup applications with a solid business plan. The SBITC allows startups to attract investors by offering them up to 50% in provincial tax credits. UNB's Axis Accelerator, funded in part by ACOA, provides entrepreneurship services and mentorship for early-stage companies.
What is the FCNB and how does it regulate business lending?
The Financial and Consumer Services Commission (FCNB) is New Brunswick's integrated financial regulator, overseeing credit unions, insurance, securities, pensions, mortgage brokers, payday lenders, and consumer protection. FCNB is a self-funded, arm's-length Crown Corporation established in 2013 that regulates approximately 44,000 industry participants handling more than $50 billion in New Brunswick consumers' money. For business lending, FCNB administers the Cost of Credit Disclosure and Payday Loans Act, which requires disclosure of the full cost of credit. FCNB also oversees the Community Economic Development Corporation (CEDC) program related to the Small Business Investor Tax Credit, ensuring that businesses issuing tax credit certificates comply with provincial securities requirements.
How does New Brunswick's bilingual status benefit business borrowers?
New Brunswick is Canada's only officially bilingual province, which creates a tangible competitive advantage for businesses seeking financing and serving customers across linguistic markets. Bilingual businesses in New Brunswick can access both English-language lenders (major banks, anglophone credit unions) and French-language institutions like UNI Financial Cooperation, expanding their pool of potential financing partners. For businesses targeting Quebec's $490 billion economy or international Francophone markets, a New Brunswick base provides bilingual staff, bilingual legal and regulatory frameworks, and proximity to both the Quebec and U.S. borders. This linguistic flexibility also makes New Brunswick attractive for bilingual call centres, translation services, and cross-border professional services, all of which strengthen a business loan application by demonstrating access to a broader customer base.
This content is for informational purposes only and does not constitute financial or legal advice. Business loan terms, rates, and eligibility vary by lender. Consult a licensed New Brunswick financial professional before making borrowing decisions.
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