Atlantic Canada Business Grants

Equipment Upgrade

Business ACCESS-Ability Grant Program

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Amount:

$100,000

Type of Program:

Grants

Description:

The Business ACCESS-Ability Grant Program provides funding to businesses for a cost-shared grant to make accessibility-related improvements. Improvements can be for clients and customers, for employees, or both.

There are five categories of funding:

  1. 1
    Built Environment for removing physical barriers for persons to access business services, by installing ramps, accessible washrooms, door openers, and other projects,
  2. 2
    Accessible Communications Services to ensure that all customers, clients, and employees can access information related to a business,
  3. 3
    Assistive Devices to ensure that employees and consumers who are person with disabilities have the devices they need to effectively do their jobs and access places of business,
  4. 4
    Universal Design Capacity Building for training in the field of Universal Design, both for technical services professionals and for persons with disabilities wishing to better understand its value.
  5. 5
    Accessible Transportation to provide support for businesses to improve access to transportation services.

Comments on Funding:

Maximum grant amounts available per year is $100,000 per applicant.
Funding is up to 2/3 of eligible expenses, to a maximum of:

  • $50,000 for Built Environment and Accessibility Certification,
  • $30,000 for Accessible Communication and Information,
  • $30,000 for Assistive Devices,
  • $20,000 for Accessible Transportation projects.

Funding available for Universal Design Capacity Building is up to 1/2 of eligible expenses.

When It Ends:

Ongoing

Deadline:

Next deadlines to be determined

Eligibility:

The applicant must:

  • a business that operates in Nova Scotia,
  • registered as a for-profit entity with the Nova Scotia Registry of Joint Stocks, including locally owned franchises,
  • open for use by all community members at reasonable rates and reasonable times and not reserved to those belonging by way of a closed membership or other means,

Application Steps:

1

is encouraged to contact the Business ACCESS-Ability program officer, if he has any questions, 

2

must submit the application form by mail, email, or fax,

3

may apply under one or more categories.

Documentation Needed: 

The applicant must submit:

  • the application form,
  • description of business and description of existing place of business,
  • documented use of place of business,
  • description of proposed project,
  • copy of lease agreement or proof of ownership,
  • information about other grants,
  • proof of insurance and proof of registration as a for-profit entity,
  • detailed estimates,
  • proof of skilled labour,
  • proof of need for assistive devices,
  • site photos (before&after),
  • drawings, sketches, maps, if available,
  • a final report within 30 days of completing your project.

Other Things to Note: 

The Business ACCESS-Ability program deadline for 2022-2023 fiscal year was July 29, 2022. Check the website for updates.

Program Contact:

Business ACCESS-Ability Grant Program

ba-guidelines-business.pdf

Modifications to a Vessel Loan

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Modifications to a Vessel Loan provides financial support to fishers and sea farmers in Nova Scotia, helping them make improvements to a vessel (lengthening and widening, complete rebuilds, new electronics and fixed equipment, and fiber glassing existing wooden boats) in order to increase efficiency. 

Comments on Funding:

The loans have flexible repayment schedule to fit the cash flow of the business (annual, semi-annual and in some cases, interest only payments for certain periods of time). The repayment period can be from 1 to 20 years.

A Builder's mortgage over the new vessel is the primary security for the loan. The mortgage claim is registered with Transport Canada. Additional security over fishing licenses is taken through a General Security Agreement. 

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be active fishers/sea farmers and new entrants in Nova Scotia,
  • make improvements to their vessel.

Application Steps:

1

Applicants must submit a completed application form to Nova Scotia Fisheries and Aquaculture Loan Board.

Documentation Needed: 

Applicants must submit:

  1. 1
    the application form,
  2. 2
    full Personal Tax Returns & Notices of Assessment for last 3 years of loan applicant as well as shareholders and guarantors (if applicable),
  3. 3
    a confirmation from Canada Revenue Agency that there are no personal income taxes owing,
  4. 4
    company Financial Statements for the past three years (if applying as a company) ,
  5. 5
    photocopies of two pieces of government ID (birth certificate, passport, driver’s license),
  6. 6
    quote(s) from all suppliers,
  7. 7
    the confirmation of Fishing Master Certification (ie. FM 4, SVOP, etc.),
  8. 8
    detailed bank statements for the previous 3 months (including chequing/savings accounts, line(s) of credit, etc.),
  9. 9
    the purchase & Sale Agreement (signed by all parties),
  10. 10
    a completed Appendix C: Engine, Vessel Upgrades, Modifications.

Other Things to Note:

A changed version of the application form was published.

Program Contact:

Modifications to a Vessel Loan | NSFA

Main Engine, Vessel Modifications and Upgrades.pdf

New Vessel Construction Loan

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The New Vessel Construction Loan helps fishers plan their new vessel to their specific needs.

Comments on Funding:

The loans have flexible repayment schedule to fit the cash flow of the business (annual, semi-annual and in some cases, interest only payments for certain periods of time).

A Builder's mortgage over the new vessel is the primary security for the loan. The mortgage claim is registered with Transport Canada. Additional security over fishing licenses is taken through a General Security Agreement.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

  • be active fishers/sea farmers and new entrants in Nova Scotia,
  • build a customized vessel to meet their needs.

Application Steps:

1

Applicants must submit a completed application form to Nova Scotia Fisheries and Aquaculture Loan Board.

Documentation Needed: 

Applicants must submit:

  • the application form,
  • full Personal Tax Returns and the Notices of Assessment for the last 3 years of all Guarantor(s) and/or Shareholder(s),
  • the company financial statements for the last 3 years,
  • a confirmation from Canada Revenue Agency that there are no personal income taxes owed to Canada Revenue Agency either corporate and/or personal, Certificate, Driver’s License, Passport),
  • Photocopies of two pieces of government ID (Birth Certificate, Driver’s License, Passport),
  • confirmation of Fishing Master Certification,
  • Detailed bank statements for the previous 3 months (including chequing/savings accounts, line(s) of credit, etc.),
  • Purchase & Sale Agreement (signed by all parties),
  • a completed copy of Appendix A: “Bill of Materials” signed and sealed by the boat builder and by the Applicant,
  • specifications from builder or Appendix B and quotes for main engine, electronics and hydraulics.

Program Contact:

New Vessel Construction Loan - NSFA

New Vessel Application

Manufacturing and Processing Assistance

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

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:

  • capital loans for the purchase and/or refurbishment of capital assets and in some cases, for debt restructuring,
  • intermediate term loans for improvements to certain business assets, except for vehicles that do not directly contribute to the business’s income or sales,
  • operating loans for purchasing inventory and for the day-to-day operating costs of the business.

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:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant can be any person that:

  • carries on a manufacturing and processing business, or intends to carry on such a business, in the province,
  • operates a business that produces a product by mechanical method from a raw material that is altered to add value. 

Application Steps:

No specific steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.
Published date: January 21, 2016

Program Contact:

Manufacturing and Processing Assistance

Small Business Assistance

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Small Business Assistance is designed to meet the special needs of Prince Edward Island's small business community and entrepreneurs for the following purposes: purchase and/or acquisition of business, expansion, debt consolidation, and new construction. It does not provide working capital for the small business sector.

The assistance can take the form of:

  1. 1
    intermediate term loans for the purchase of machinery, equipment or other acquisitions of a capital nature,
  2. 2
    long term loans for the purchase and/or refurbishment of capital assets and, in some cases, for debt restructuring.

Comments on Funding:

The long term loans will not generally exceed 80% of the fair market value or purchase price, whichever is less, have flexible repayment options and must be secured by a lien on the property, and in some cases alternate security may be considered.

The repayment period must coincide with the expected life of the asset being financed, but in no case will it exceed 20 years.
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:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant can be any person that :

  • carries on business, or intends to carry on business, in the province,
  • purchases a finished product from a supplier and resells that product without alteration, 
  • does not employ more than 100 people
  • did not have annual gross sales exceeding $10 million in the fiscal year immediately after an application.

Application Steps:

No specific steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.
Published date: January 31, 2016

Program Contact:

Small Business Assistance