961 Topsail Road, Suite C. Redwood Place, Mount Pearl, NL A1N 3K1
Tel: (709) 738-1626 Toll free: 1-866-738-1626 Fax: (709) 576-3115
Twitter: @mbobusiness
Facebook: @mbobusiness
Mandate: MBO’s mission is to create, facilitate, and support sustainable employment and business opportunities through providing advisory and financial assistance to entrepreneurs in St. John’s and Mount Pearl.
Target Population: Anyone looking to start-up a small business; anyone who is receiving or has received EI in the past three years or who has received maternity / paternity benefits in the last five years; anyone who is receiving social assistance benefits; anyone under 35 looking to expand or modernize a small business
Highlight of Programs / Services Offered:
- Self-Employment Assistance Program: This program provides a 52 week extension of employment insurance benefits to successful applicants who wish to start their own business. To be eligible for this program you must be receiving or have received EI in the past three years; or have received maternity or paternity benefits in the past five years. The SE program provides self-assessment services, business plan guidance, business counselling, general business training, and financial assistance.
- Entrepreneurial Opportunities Program: This program assists individuals to become self-employed through providing business plan guidance, general business training, and financial assistance to individuals who are currently receiving or eligible for provincial income support (social assistance). Potential applicants should obtain referral letters from HRLE.
- Seed Capital Program: This program provides loans of up to $20,000 for small businesses. If the applicant is under 35 they can invest the loan in start-up, expansion, or modernization of a business; while applicants over 35 are only permitted to use the loan to start-up a business. There are also non-repayable training allowances of $2,000 available to all eligible partners as well as business counseling.
- Kick$tart: This program provides low-interest loans of up to $5,000 to entrepreneurial youth under 35 who are unable to get the money from other sources.