• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Atlantic Canada Business Grants

  • Atlantic Canada
    • Grants
    • Loans
    • Wage Subsidies
  • New Brunswick
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Newfoundland & Labrador
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Nova Scotia
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Prince Edward Island
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies

Loan & Investment

Business Investment Fund – Business Investment Program

Amount:

$1,000,000.00

Type of Program:

Loan & Investment


Description:

The Business Investment Program provides term loans and equity investments to Newfoundland and Labrador SMEs in strategic growth sectors as identified by Industry, Energy and Technology (IET). The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.

Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.

Comments on Funding:

Funding is in the form of repayable term loans  at the department's base rate of 4,5%.

Equity funding is in the form of redeemable preferred shares to a maximum of $500,000 per project and a maximum aggregate of $1 million is available.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be a SME based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales,
  • demonstrate its ability to undertake the work identified in the project proposal,
  • demonstrate its ability to access the financial capital required to complete the project,
  • operate in a strategic sector as defined by IET,
  • be in good standing with the Government of Newfoundland and Labrador.

Strategic sectors: Advanced Technologies, Aerospace, Agri-foods, food and beverage, Aquaculture, Biotechnology and Life Sciences, Craft, Gift and Apparel, Energy, Environmental Industries, Fishery (excludes fish harvesting and primary processing), Forest Products, Information and Communications, Technology, Manufacturing, Ocean Technology, Mineral Resources, Natural Stone, and Tourism and Cultural Industries.

Application Steps:

1

The applicant must submit a signed, completed application with supporting documentation to the office of Industry, Energy and Technology (IET) in his area.

Documentation Needed: 

The applicant must submit:

  • the application form,
  • a business plan and project summary & Benefits,
  • financial statements for the current and previous two to five years of operation including notes to the financial statements and the most recent interim statements. If a proprietorship, include recent and previous two to five years personal income tax returns including CRA T2125 form and Notice of Assessment, if an existing business,
  • a copy of the Articles of Incorporation,
  • a Personal Net Worth Statement for all shareholders and key management personnel (loans/equity investments only),
  • a Cash Flow Statement and pro forma statements for the next two to five years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if an existing business,
  • Income Statement and Opening Balance Sheet, a Cash Flow Statement and pro forma statements for the next two years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if a new business,
  • any supplementary information that may be relevant to his operation.

For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.

Program Contact:

Business Investment Program

Application for Assistance

Primary Sidebar

Recent Posts

  • How to Register a Business in New Brunswick:
    Step-by-Step Guide for New Entrepreneurs
  • Businesses for Sale in New Brunswick:
    Best Places to Buy + Mistakes to Avoid
  • Best Business to Start in New Brunswick (2023):
    Growth Industries + Top Business Ideas
  • Aquaculture Capital Equity Program (ACEP)
  • Apprenticeship Wage Subsidy (AWS) Program

Recent Comments

  • Toni Mladineo on Clean Technology Loan

Copyright © 2023 · eleven40 Pro on Genesis Framework · WordPress · Log in

  • About Me
  • Contact