Atlantic Canada Opportunities Agency (ACOA)

Jobs and Growth Fund (JGF)

by Maurice | June 7, 2023

Amount:

No Fixed Amount

Type of Program:

Grants & Loan

Description:

The Jobs and Growth Fund (JGF) provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.

Comments on Funding:

Funding will take the form of:

interest-free repayable contributions for up to 50% of eligible costs for eligible businesses;
non-repayable contributions for up to 90% of eligible costs for not-for profit organizations.
Indigenous-led organizations and/or businesses are strongly encouraged to apply.

The JGF has a continuous intake process, meaning that applications are accepted on an ongoing basis. However, the program is set to run for three years, with an expected end date of March 31, 2026.

Applicants are encouraged to submit their applications as early as possible to allow sufficient time for processing and evaluation.

Indigenous-led organizations and/or businesses are strongly encouraged to apply.

Under the initiative, RDAs may contribute up to 100% of eligible project costs for projects with Indigenous clients.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

businesses, including co-operatives,
not-for-profit organizations and community economic development partners.

Successful applicants for the JGF will be selected based on a range of criteria, including:

The ability of the project to create jobs and support economic growth in the region
The degree to which the project aligns with the objectives of the JGF, including transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs across Canada
The extent to which the project demonstrates innovation, collaboration, and community engagement
The feasibility and sustainability of the project, including the capacity of the applicant to manage and deliver the project effectively

Among the program's eligible activities are activities that foster an inclusive recovery, including those that support businesses owned or majority-led by under-represented groups, such as Indigenous peoples, members of racialized communities, women, youth, LGBTQ2, persons with disabilities, newcomers to Canada, and members of official language minority communities.

Application Steps:

Applicant must consult the applicant guide

Applicant must fill out the Jobs and Growth Fund application form online

Applicant must send the form through the application for financial assistance page or by mail to the ACOA regional office in your province.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership (names and percentage of ownership),
2
financial statements (current and last two years),
3
research and development (r&d) project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licences,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting / incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: research and development (r&d) project plan or detailed project description, including milestones, costs, financing, key partnerships established and evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and license's,
8
other relevant documents (specify).

Other Things to Note:

1
The JGF will provide $700 million over three years (2021-2022 to 2023-2024) across Canada to support business financing. This support for regional recovery and stimulus will position local economies for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
2
Applications will be accepted on a continuous intake basis until such time as the funding is fully allocated.
3
The fund, delivered by Canada's regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.
4
In Atlantic Canada, the Atlantic Canada Opportunities Agency (ACOA) is investing $70 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
5
Date modified: 2022-03-15.

Program Contact:

Jobs and Growth Fund

APPLICATION FOR FINANCIAL ASSISTANCE JOBS AND GROWTH FUND

JOBS AND GROWTH FUND APPLICANT GUIDE

Atlantic Innovation Fund (AIF)

by Maurice | June 7, 2023

Amount:

$3,000,000.00

Type of Program:

Grants & Loan

Description:

The Atlantic Innovation Fund (AIF) is helping Atlantic Canada compete at home and abroad by supporting the development of innovative products and services that lead to commercial success. AIF helps researchers and innovative businesses team up to develop new products and services and put them on the market.

Comments on Funding:

Funding is up to 80% of total eligible costs for projects led by not-for-profit organizations. Contributions to not-for-profit organizations are non-repayable

Funding is up to 75% of total eligible costs for private-sector-led projects. Contributions to the private sector are conditionally repayable based on the commercial success of a project.

It should be noted that the AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Eligible costs could include wages, salaries, capital costs and other operating expenses directly related to the project. The AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Funding for innovation project ranges from $500,000 to $3 million. Innovation projects of less than $500,000 may be eligible under ACOA’s Business Development Program.

Types of Projects Eligible for Atlantic Innovation Fund:

The AIF provides funding for a wide range of projects that support innovation and economic growth in Atlantic Canada. Eligible projects may include:

Research and development of new products, services, and technologies
Commercialization of innovative products, services, and technologies
Development of new or improved processes, systems, and technologies
Creation of research and commercialization partnerships among businesses, universities, and research institutions

Evaluation Criteria for Atlantic Innovation Fund:

The AIF evaluates applications based on several criteria. According to the Atlantic Canada Opportunities Agency (ACOA), projects must meet the following essential criteria to be considered for funding:

- Be compatible with AIF objectives
- Be scientifically and/or technically sound
- Demonstrate management capability to successfully undertake the project
- Demonstrate significant economic benefits for Atlantic Canada

In addition to the essential criteria, the AIF also considers the following desirable criteria:

- Includes private sector participation (for institutional proposals)
- Fills a gap in the Atlantic system of innovation
- Improves innovation capacity of the private sector
- Is pan-Atlantic in scope

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must be:

private-sector businesses,
universities, colleges,
non-government research institutions,
provincial Crown corporations operating in Atlantic Canada.

Application Steps:

Applicant must complete a Project Concept Template and submit it to the ACOA office nearest to them. ACOA will contact them to confirm receipt and to discuss their project.

Applicant must complete and submit the Application for Financial Assistance form, once they have discussed their project with ACOA.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership names and percentage of ownership
2
fully repayable contributions up to $500,000 for up to 75% of eligible costs
3
R&D project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licenses,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting/ incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: (R&D) project plan or detailed project description, including milestones, costs, financing, key partnerships, established evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and licenses,
8
other relevant documents (specify).

Other Things to Note:

Date modified: 2022-08-16

Program Contact:

Atlantic Innovation Fund

Application for financial assistance

Atlantic Innovation Fund: Frequently Asked Questions

APPLICATION FOR FINANCIAL ASSISTANCE

Tourism Relief Fund

by Maurice | February 5, 2023

This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Grant & Loan

Description:

With a budget of $500 million over two years (ending March 31, 2023), including $50 million specifically dedicated to Indigenous tourism initiatives and $15 million for national initiatives, The Tourism Relief Fund supports tourism businesses and organizations to adapt their operations to meet public health requirements while investing in products and services to facilitate their future growth.

Comments on Funding:

Contributions to businesses will be either:

1
non-repayable contributions up to $100,000 for up to 50% of eligible costs;
2
fully repayable contributions up to $500,000 for up to 75% of eligible costs

Not-for-profit organizations and Indigenous entities (not generating profits) will be eligible for non-repayable contributions.

Project contribution amounts would not exceed $500,000. The actual contribution amount will be based on the minimum amount required to carry out the project.

A business cannot receive a combination of a non-repayable and a repayable contribution for the same project.

When It Ends:

Ongoing

Deadline:

March 31, 2023

Eligibility:

Applicants must:

be tourism entities that cater mainly to visitors, such as:

businesses;
not-for-profit organizations, such as tourism associations;
municipalities, and
band councils or other Indigenous organizations and cooperatives.

meet at least one of the following criteria:

be a key supplier or operator in the visitor experience;
be part of a defined tourism cluster or a tourism dependent community, including supporting downtown cores; or
provide an anchor product or service in a tourism destination.

Application Steps:

Applicants must consult the applicant guide

Applicants must fill out the Tourism Relief Fund application form online

Applicants must send the form through the application for financial assistance page or by mail to the ACOA regional office in your province.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership (names and percentage of ownership),
2
financial statements (current and last two years),
3
research and development (r&d) project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licenses,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting / incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: research and development (r&d) project plan or detailed project description, including milestones, costs, financing, key partnerships established and evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and licenses,
8
other relevant documents (specify).

Other Things to Note:

1
The TRF will provide $500M investment over two years (2021-2022 to 2022-2023) across Canada to support tourism businesses/organizations through investments to improve their offerings and adapt to public health measures for the short and long term.
2
Date modified: 2022-09-23.

Program Contact:

Tourism Relief Fund

APPLICATION FOR FINANCIAL ASSISTANCE TOURISM RELIEF FUND

TOURISM RELIEF FUND APPLICANT GUIDE

Impact Atlantic Program

by Maurice | February 5, 2023

Amount:

$25,000.00

Type of Program:

Loan

Description:

The Impact loan provides funding to SMEs in urban Atlantic Canada. Entrepreneurs of all ages can apply for a business start-up loan, while established business owners between 19 and 39 can avail of expansion financing.

Comments on Funding:

Funding of up to $25,000 with flexible repayment terms and no penalty for early repayment of the principal is available. Typical repayment terms are between 12 and 60 months.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

be SMEs,
be startups,
be established businesses whose owners are aged 19 to 39, in order to avail of expansion financing.
be located in urban Atlantic Canada.

Application Steps:

Applicants must complete the Impact loan application online, or by contacting the partner organization delivering the loan in their area.

Applicants must submit to the Loans Officer at the partner organization in their area the required documentation. The Loans Officer will complete an assessment of the business plan and financing needs and will submit it to a loan review committee for a final decision.

Applicants must complete the legal documents, if approved. Disbursement of loan funds usually follows quickly.

Documentation Needed:

Applicants must submit the following:

1
personal contact details, personal assets and liabilities, a description of the business, any current business assets and liabilities, listing of principal owners, and projected business start-up (or expansion) costs and sources of financing, as part of the online application.
2
a copy of their business plan, resume, driver’s license, projected financial statements, answers to additional questions, and permission to conduct a credit check to their Loans Officer.

Other Things to Note:

The partner organizations delivering the Impact loan program in the Atlantic Region are:
New Brunswick: in Dieppe, Moncton, and Riverview: 3+ Corporation,
New Brunswick: in Fredericton: Ignite Fredericton,
New Brunswick: in Saint John: Economic Development Greater Saint John,
Newfoundland and Labrador: in Mount Pearl, and St. John’s: Metro Business Opportunities,
Nova Scotia: in Bedford, Dartmouth, and Halifax: CEED,
Prince Edward Island: in Charlottetown, Cornwall, and Stratford: CBDC Central PEI.
Programs and services delivered by CBDCs may vary by region.

Impact is funded by the Atlantic Canadian Opportunities Agency (ACOA)

Program Contact:

Impact Atlantic Program | CBDC

Impact Atlantic website

FAQ | Impact Atlantic

Community Futures

by Maurice | February 5, 2023

Amount:

No Fixed Amount

Type of Program:

Loan & Loan Guarantee & Investment

Description:

The Community Futures program helps to create jobs in rural areas. This is done with the help of more than 40 Community Business Development Corporations (CBDCs) throughout Atlantic Canada.

Comments on Funding:

The financial help will take the form of loans, loan guarantees and equity financing.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

The applicant must be CBDC throughout Atlantic Canada.

Atlantic Canada businesses should check with their nearest CBDC office for eligibility criteria.

Application Steps:

Applicants must visit cbdc.ca to find the nearest CBDC office, or call 1-888-303-2232 toll-free.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

I. CBDCs help launch small businesses and expand and modernize existing ones. Through the CBDCs, you could get:

1
financial help in the form of loans, loan guarantees and equity financing;
2
business counselling and advice to help you succeed;
3
entrepreneurship development and training to address skills gaps;
4
technical help in the form of guidance and coaching.

II. Applicants should check with their nearest CBDC office for further details.

Date modified: 2022-08-16

Program Contact:

Community Futures

Homepage | CBDC

Atlantic Canada Opportunities Agency (ACOA)

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