No Fixed Amount
Type of Program:
The Manufacturing and Processing Assistance provides financial support to manufacturing and processing businesses in Prince Edward Island to buy land and buildings, specialized equipment, and in some cases, production inventory.
The assistance can take the form of:
Comments on Funding:
Maximum financing generally does not exceed 80% of the purchase price or fair market value of the assets, whichever is less.
Funding for inventory purchases and account receivables is up to 100% and is based primarily on purchase orders and signed contracts/ agreements (operating loans).
Capital Loans have up to 20 years terms and flexible repayment options and must be secured by first charge on real property or the asset being financed and in some cases alternate security may be considered.
There is an application fee of $250.00 or one half (½) of one per cent of the amount of the loan proposed, whichever is greater.
When It Ends:
The applicant can be any person that:
No specific steps have been identified.
No specific documentation has been identified.
Other Things to Note:
No other details available.
Published date: January 21, 2016
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