Business Growth Program
$200,000.00
Grant
Description:
The Business Growth Program provides non-repayable contributions for projects or initiatives to assist businesses start, innovate, scale and improve sales locally, nationally or internationally.
Comments on Funding:
The Business Growth Program normally provides non-repayable contributions up to 50 per cent of eligible costs to a maximum of $200,000 over 24 months ($100,000 per year) per project, per company. Development and Commercialization projects, however, may be considered to a higher maximum normally up to $750,000 over multiple years at varying amounts per year.
Continuous Intake
Eligibility:
Applicants must be businesses that are either:
1. Growth-focused, innovative firms including sole proprietors, partnerships or corporations operating within Newfoundland and Labrador that demonstrate commercial viability; or
2. Co-operatives or non-profit organizations operating within Newfoundland and Labrador that demonstrate an ability to generate commercial revenue or are pursuing international trade or economic development opportunities.
Application Steps:
Applicants must contact IET@gov.nl.ca
Documentation Needed:
Applicants must submit:
1. Completed and signed Application for Assistance
2. Project proposal
3. Confirmation of funding sources
4. Relevant quotes to support the project budget
5. Two years of historical Financial Statements (if available) along with Financial Projections
6. Certificate of Officers and Directors, Articles of Incorporation (for incorporated companies)
7. Confirmation of the company’s shareholders, directors and signing authorities. Corporations
can provide this information via a Certificate of Officers and Directors
About the author
Maurice