Small Business Investment Grant

Amount:

$3,750.00

Type of Program:

Grants

Description:

The Small Business Investment Grant helps Prince Edward Island’s small businesses improve efficiency and innovation by way of a non-repayable financial contribution toward eligible capital asset costs.

Comments on Funding:

Funding is 15% of the actual eligible cost as determined at the time of the request for reimbursement - resulting in a maximum grant of $3,750.

When It Ends:

Ongoing

Deadline:

March 31, 2023

Eligibility:

The applicant must:

be small businesses operating on Prince Edward Island,
have at least one employee (minimum of 560 hours) or the business is the primary source of income for the applicant,
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

An eligible business can only submit one application per year either through this program or Innovation PEI’s Capital Acquisition program. Businesses with an export focus that are eligible to apply to Innovation PEI’s Capital Acquisition Program are encouraged to do so.

Application Steps:

Applicants must submit their completed applications on-line.

One application to this program per fiscal year (April 1, 2022 - March 31, 2023) will be accepted regardless of the amount.

The Company's request for payment must be submitted no later than May 31, 2023.

Documentation Needed:

1
the online application form,
2
business number and date of incorporation (if applicable),
3
business banking information,
4
a complete list of capital assets (either purchased or expected to be purchase between April 1 and March 31) for the project including cost per item,
5
description of the business operations,
6
detailed description of the project and how it will benefit the business.