Atlantic Canada Business Grants

Atlantic Canada

Aboriginal Business Financing Program (ABFP)

by |

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Aboriginal Business Financing Program (ABFP), administered by Ulnooweg, offers non-repayable business contributions to individual Aboriginal entrepreneurs and community owned businesses. Some of the eligible expenses for ABDP support are: business planning, establishment and operating costs, business acquisitions and expansions, local, domestic or export oriented marketing initiatives, new product or process development, adding technology to improve operations and competitiveness, financial services, business support, business-related training and mentoring services. 

Comments on Funding:

Funding is a non-repayable business contribution as following:

  1. 1
    up to 75% for development of business plans, marketing plans, feasibility studies,
  2. 2
    up to 40% for establishment, expansion or acquisition,
  3. 3
    up to 60% for marketing initiatives,
  4. 4
    up to 90% for business support and project related management.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must be:

  • entrepreneurs of Canadian Aboriginal status or non-status, Metis or Inuit Heritage (on or off reserve, living and operating their businesses within the Atlantic provinces,
  • community owned businesses,
  • Aboriginal financial organizations,
  • development corporations.

Application Steps:

1

Applicants must contact Ulnooweg for further details by submitting the Client Inquiry Form.

Documentation Needed:

No specific documentation has been identified

Other Things to Note:

The majority of ABFP funding goes towards small and medium-sized businesses.

Program Contact:

Aboriginal Business Financing Program - Ulnooweg

Additional Resources:

As an Indigenous entrepreneur, you have access to a range of resources to help you succeed. Here are some additional resources that can help you grow your business and take it to the next level.

Business Development Support

The Nishnawbe Aski Development Fund (NADF) provides a range of business development support services to Aboriginal entrepreneurs. These services include business planning, financial management, marketing, and more. NADF also offers a range of financing options, including the Aboriginal Business Financing Program (ABFP). For more information, visit the NADF website.

Networking Opportunities

Networking is an important part of building a successful business. The National Aboriginal Capital Corporations Association (NACCA) provides networking opportunities for Aboriginal entrepreneurs through its Aboriginal Entrepreneurship Program (AEP). The AEP offers a range of services, including business planning, financing, and more. For more information, visit the NACCA website.

Atlantic Innovation Fund (AIF)

by |

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:

1

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.

2

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

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

  1. 1
    constituting/ incorporating documents and list of directors/members of the board,
  2. 2
    financial statements (current and last fiscal year),
  3. 3
    description and mandate of the applicant, including the management and qualifications of key personnel,
  4. 4
    HST rebate information (I.E. rebate rate),
  5. 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. 6
    supplier quotes,
  7. 7
    copies of relevant permits and licenses,
  8. 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

Micro Loan

by |

Amount:

$5,000.00

Type of Program:

Loan

Description:

The Micro Loan provides up to $5,000 in financial assistance to new or existing new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland.

Comments on Funding:

Funding is up to $5,000.
There is a $100 administration fee. The first year is interest-free

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland.
  • be a registered proprietorship, partnership or limited company,
  • have a viable business plan, with two year cash flow projections, the ability to repay the loan and a suitable management strategy.

Application Steps:

1

Applicants must contact BBI for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Financial Assistance - BBI

Term Loan

by |

Amount:

$25,000.00

Type of Program:

Loan

Description:

The Term Loan provides up to ,000 in financial assistance to new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland. Loans can be used for capital equipment acquisition, working capital, or short-term receivable financing.

Comments on Funding:

Funding is up to $25,000.
The interest rate is based on risk assessment, repayment terms vary and there is a $100 administration fee. The first year is interest-free

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a new or existing Black-owned business in Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland.
  • be a registered proprietorship, partnership or limited company,
  • have a viable business plan, with two year cash flow projections, the ability to repay the loan and a suitable management strategy,

Application Steps:

Applicants must contact BBI for further details.

Documentation Needed:

No specific documentation has been identified

Other Things to Note:

No other details available.

Program Contact:

Financial Assistance: Black Business Initiative

Community Development Fund (CDF)

by |

Amount:

$225,000.00

Type of Program:

Loan

Description:

The Community Development Fund Loans offers additional financial assistance up to $225,000 in the form of repayable loans to businesses and offers financial assistance in terms of loans or bridge financing to non-profit associations. 

Comments on Funding:

Funding is up to $225,000 and is available in the form of repayable loans to businesses and in the form of loans or bridge financing to non-profit associations.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

No other details available.

Application Steps:

Applicants must contact the CBDC personnel for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Community Development Fund Loans in NB, NL, NS and PEI