PEI Broadband Fund for Businesses
no fixed amount
Grant
Description:
The Prince Edward Island Broadband Fund provides financial assistance to local Prince Edward Island internet service providers (ISPs), communities and businesses for the installation of infrastructure for enhanced broadband services. Through this program, partnerships and collaborations are encouraged and support is provided for increased service levels, improved access and consumer choice for connectivity.
The Prince Edward Island Broadband Fund (PEIBF) provides a contribution of up to 50% of the eligible costs for a project approved for funding. Applications must be submitted prior to the start of a project; any expenses incurred before the submission of an application are ineligible.
Continuous Intake
Eligibility:
Applicants must be:
1. A Prince Edward Island for-profit business that is a sole proprietorship, partnership, cooperative or limited liability company that requires access to new or upgraded services to their business premises.
2. Not-for-profit businesses
3. Teleworking access
Application Steps:
Applicants are encouraged to work with Innovation PEI staff in the preparation of their application and proposal. Inquiries regarding PEIBF can be addressed by contacting 902-368-6300, toll free at 1-800-563-3734, or via email at myinternet@gov.pe.ca
Hard copy and email applications may be submitted to:
Innovation PEI
Attention: PEIBF
94 Euston Street
PO Box 910, Charlottetown, PE C1A 7L9
Email: business@gov.pe.ca
Documentation Needed:
Applicants must submit:
1. Prince Edward Island Broadband Fund application form via online webform or in signed PDF format via email or hard copy
2. Proposal Description as detailed below (If submitted electronically, the project proposal file must be provided in either a Microsoft Word (.doc, .docx) or an Adobe Acrobat (.pdf) format and must be print ready.)
3. History and description of your business
a. Background of business
b. Employee levels
c. Total annual sales
d. Ownership/management team
e. Products/services and target market: A brief overview of what you sell and to whom.
f. Current broadband service status of project location, and proposed service status at project completion
4. Information on the estimated costs
a. Itemized project cost estimate must be supported by written quotation(s)
5. Financial and business information
a. Existing businesses are required to provide detailed Financial Statements for the previous two years.
b. New businesses and businesses planning expansions are required to submit complete business plans.
6. Financial Requirements
a. Sources of project funds (total sources of funds must equal total project cost):
i. Amount requested through PEIBF
ii. All other sources of funds
iii. Provide appropriate contact information for confirmation of financing (for example, lending institutions, banks, government loans and/or grants)
About the author
Maurice