Are immigrant applicants able to apply for loans to start their own business?

An immigrant may be able to apply for government small business loans to start their own small business. There are different loans offered annually, depending on how the past loan programs were received. However, if you do not find one of these you can use you may want to consider a more general small business loan. There are national, provincial and local loans that can be used to pay for the initial start-up costs such as advertising, hiring and training employees, and buying machinery or equipment. Be aware that each program has its own eligibility terms and interest rates. So, check the details on the business loans you are considering when making a decision.

How much funding does your small business need? Are you looking to fund your startup or existing business? Get started now with your funding search with our Funding Database. With over 1,500 funding programs and $612,676,848 in available funding, you should not wait. Register as a member today!

You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.