Loans Available to Newfoundland and Labrador Businesses

The Government of Newfoundland and Labrador has launched a new Rental Housing Development Loan Program (“the Program”) that will offer low-interest loan financing to qualified property developers to encourage the construction of new rental housing.

The Program is designed to assist developers, contractors, and commercial property owners undertaking new purpose-built residential rental development projects in Newfoundland and Labrador. In so doing, the Program seeks to increase the availability of housing in Newfoundland and Labrador by incentivizing the construction of new units in the province.

Down Payment Loans are available for the purpose of meeting the down payment requirements of accessing a loan from a financial institution for eligible activities. Borrowers typically must provide down payments of a minimum of 10 per cent of overall costs for vessel acquisition and construction, and a minimum of 15 per cent for all other purposes.

Through Elevate, the Government of Canada will increase commercial tourism investments in Atlantic Canada to $25 million over 2 years (ending March 31, 2026). This repayable initiative, sourced from ACOA’s existing budget, further demonstrates the federal Government’s commitment to investing in the region’s visitor economy, backing up Canada’s Federal Tourism Growth Strategy with real action​.

PictureNL may provide a loan to qualified applicants to support the essential process of development that takes an idea through the stages of research, writing, market analysis, and costing. Support for the development of a project does not, in any way, guarantee funding by PictureNL in later stages of the project.

The Business Scale-up and Productivity helps businesses speed up their growth so they can be more productive, compete on the world stage and reach new markets. Funding can be used to:
1. scale up and expand;
2. make the most of new technologies;
3. improve productivity;
4. create new products and find new markets.

The Business Development Program (BDP) helps entrepreneurs launch, modernize and grow their business in Atlantic Canada.