Business Investment Fund – Business Investment Program
Amount:
$1,000,000.00
Type of Program:
Loan & Investment
Description:
The Business Investment Program provides term loans and equity investments to Newfoundland and Labrador SMEs in strategic growth sectors as identified by Industry, Energy and Technology (IET). The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.
Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.
Comments on Funding:
Funding is in the form of repayable term loans at the department's base rate of 4,5%.
Equity funding is in the form of redeemable preferred shares to a maximum of $500,000 per project and a maximum aggregate of $1 million is available.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
The applicant must:
Strategic sectors: Advanced Technologies, Aerospace, Agri-foods, food and beverage, Aquaculture, Biotechnology and Life Sciences, Craft, Gift and Apparel, Energy, Environmental Industries, Fishery (excludes fish harvesting and primary processing), Forest Products, Information and Communications, Technology, Manufacturing, Ocean Technology, Mineral Resources, Natural Stone, and Tourism and Cultural Industries.
Application Steps:
The applicant must submit a signed, completed application with supporting documentation to the office of Industry, Energy and Technology (IET) in his area.
Documentation Needed:
The applicant must submit:
For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.
Program Contact:
