Celebrating 10 years of facilitating local businesses

Michelin Development provides low-interest loans and access to our business expertise to create quality, sustainable jobs and promote economic growth.

Here you can check to see if your business qualifies, view what's involved in the application process and find recent recipients.

153

Total Loans

$10,803,989

Total Dollars

1,787

Total Jobs

How Do I Qualify?
Program Criteria and Loan Process

Michelin Development loans are up to $300,000 with no minimum, at the prevailing prime interest rate plus 2%. Terms are up to 5 years, plus the first 6 months are interest only. We do not require personal guarantees, but loans will be secured against business assets plus 25% in Hard Equity is required. The decision to provide loans is at the discretion of the local CBDC Investment Committee. The committee's decision is final.

Michelin Development offers free of charge access to our business expertise. This is available in all areas where we have internal expertise except for legal advice, web development, engineering, and insurance. This expertise must be problem, project, or issue specific and is for a maximum of five days. We do not help clients start or run their companies. We only make suggested recommendations and do not implement them.

Frequently Asked Questions

If I am declined or don’t qualify, can I still get business expertise?

 Yes, you can still receive business expertise (any area of expertise, except legal, web development, engineering or insurance advice).

Do I have to have a business plan to qualify?

 Yes, a business plan needs to be included with the application. 

How long does this process take?

Because of how many details are involved, the process usually requires 60 days or more. 

Does my business qualify?

The jobs must be created in one of the seven counties which this program focuses on: Pictou, Antigonish, Colchester, Guysborough, Cumberland, Inverness, and Richmond.

Who reviews the applications?

We have the local CBDC Investment Committee that is comprised of entrepreneurs, business leaders, community leaders from the Nova Scotia counties of Pictou, Antigonish, Colchester, Guysborough, Cumberland, Inverness, Richmond, a Michelin leader, and a banking partner.

If I am turned down can I reapply?

If you are declined and want to reapply, you will be asked to meet with John Tully to discuss your application and the feedback in more detail.

Do I have to take a business start-up basic class to apply?

The Michelin Development Steering Committee requires that you plan on taking an online class, which is free of charge if you are a Michelin Development client.

Will I have to bank with the Michelin Development banking partner in order to receive this loan?

All new clients need to open a bank account with the Michelin Development banking partner with auto withdrawal. All new clients need to have a credit card on file. This credit card will be used by the banking partner to pay the loan if insufficient funds are in the checking account.

News Releases

Here are some recent media releases on the Michelin Development program in Nova Scotia.

Michelin Development Fund cushions blow of job loss in northern Nova Scotia

Michelin Tire says a small-business loan fund it created to cushion the blow caused by a large lay off at one its Nova Scotia plants has created 74 jobs with another 147 expected over the next five years.... Read More

New Michelin Development loans awarded in Pictou, Antigonish and Colchester counties

Helping to move their businesses forward, 18 small businesses from Antigonish, Colchester and Pictou counties are recipients of over $1.2 million in loans from the Michelin Development partners of Bergengren... Read More

Creating jobs in the community: eight small businesses to benefit from Michelin Development community loan program

Granton, Pictou County, Nova Scotia—February 23, 2015 Almost a year after establishing the Michelin Development Nova Scotia program, eight small businesses in Antigonish, Colchester, Guysborough, Pictou... Read More

Putting jobs back into the community: Michelin Development Nova Scotia announces business partnership with Bergengren Credit Union, Northern Opportunities for Business Limited (CBDC NOBL) and CBDC Guysborough

Local development partnership allows for small business loans up to $300,000; Michelin Development website already receiving applications Granton, Pictou County, Nova Scotia—September 22, 2014 Michelin... Read More

TAYLOR: Michelin business fund gears up

Michelin Development Co. could be ready to start making loans to Nova Scotia small businesses by the summer. John Tully, the president, told me Monday that he is in Nova Scotia this week to meet with a number... Read More

NS: Michelin Development aims to help create and grow small businesses

Michelin Development president John Tully is helping to organize a program in the community which will provide low interest loans to people looking to either start up or grow their small business. [PICTOU CO.,... Read More

Michelin starts economic development initiative

Work is underway to offset a job reduction announcement by Michelin Canada. Over the next 18 months, the tire maker plans to downsize its workforce in Granton, Pictou County, by 500. Although staffers will have... Read More

Seven new loans awarded to Pictou County businesses through Michelin Development

GRANTON – Fifteen more businesses have been awarded Michelin Development community loans since June, a press release from Michelin says. Seven of those businesses are in Pictou County. In 2015, a total of 33... Read More

Recent Loan Recipients

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Maritime Directional

4475 Highway 316 Antigonish, N.S, B2G 2L4 ( 1-902-870-2938 info@maritimedirectional.com)

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The Appleton Chocolates Company

259 Main Street Tatamagouche, N.S. Canada (Telephone: (902) 657-2233)

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Mike and Sean's Seafood Shop

9 Shannon Road, Pictou County, Nova Scotia (902.485.1720)

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Forever Memories Equestrian Centre

73 Ryland Avenue, Truro, Nova Scotia, Canada (902.957.7433 - forevermemories2011@live.com)

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Bev's Country Diner

5474 NS-289, Upper Stewiacke, NS B0N 2P0, Canada (+1 902-671-2326 - bevscountrydiner.ca)

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SUPPLEMENT KING

ABERDEEN BUSINESS CENTRE, New Glasgow, pictou NS, B2H 3S2 (902.986.7891 - )

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FAT TONY'S BAR & GRILL

9 Water Street, Pictou, Nova Scotia, B0K 1H0 (902.301.3760)

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ASANA YOGA & MASSAGE

208 main St. - Antigonish - NS (902 7357355 - Info@asanayogamassage.com - www.asanahogamassage.com)

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COLCHESTER PHONE REPAIR

30 Esplanade St, Truro, NS B2N 2K3 (902-897-7800 - steve@colchesterphonerepair.ca)

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TRULEAF

173 Dr. Bernie MacDonald Drive Bible Hill, Nova Scotia (Canada) B6L 2H5 (contact@truleaf.ca - 1 (902) 897-0165)

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CHELSEA'S HAIR SALON

133 Provost St, New Glasgow (902 695 3252)

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AP EXCAVATING AND LANDSCAPING

3925 Highway 245 Malignant Cove, Antigonish, NS Canada B2G2L1 (adambyrd@hotmail.com - 902.867.6208)

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RONS SMALL ENGINE REPAIR & RENTAL CENTRE

483 Marsh Road, Thorburn, Pictou Co., N.S., B0K 1W0 (ronsmallengine@eastlink.ca - 902.922.2825)

Contact Michelin Development

How to Contact Us

We look forward to hearing from you. Please feel free to contact us by phone, or by filling out the following form.

Phone

Office (902) 753 1156
Cell (902) 396 6887

Michelin Development Nova Scotia
Mr. John Tully
PO BOX 399 New Glasgow
Nova Scotia , Canada B2H 5E6

Via Courier

Michelin Development Nova Scotia
Mr. John Tully
2863 Granton Road; RR3
Pictou County, Nova Scotia, Canada B2H 5C6

 
 
 
 
 
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