Start or grow a business

Aerospace and Defence Tax Rebate

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Aerospace Tax Holiday provides all eligible aerospace and defence-related companies a full rebate annually on all corporate income tax paid to the province for operations conducted in Prince Edward Island. There’s also a full rebate annually of all real property tax attributable to ownership or rental of facilities in Prince Edward Island.

Comments on Funding:

The incentive is a tax rebate.

When It Ends:

Ongoing

Deadline:

December 2022

Eligibility:

Applicants must be:

new or existing aerospace firms operating in the Province of Prince Edward Island,
engaged in aviation or aerospace/defence-related businesses, which may include, but is certainly not limited to, original equipment manufacturers, strip and paint shops, repair and overhaul operations, training and various aviation support businesses,
aerospace companies in eligible activities that have 20 or more employees or a payroll in excess of $700,000,
aerospace companies engaged in eligible activities that categorize them in the “Aerospace and Defence” sector as defined by the Province of Prince Edward Island.

Program Contact:

Aerospace and Defence Tax Rebate

Licence Loan Program

This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Licence Loan Program provides funding to eligible independent fishers to purchase a fishing licence or licence and associated gear.

Comments on Funding:

Required deposit for a new entrant licence only or licence and associated gear loan is a minimum of 5%.
Required deposit for a new species licence only or licence and associated gear loan is a minimum of 10%.

A personal guarantee is taken on all loans.
All loans are subject to an Administration Fee, a Mortgage Registration Fee and/or Personal Property Registration Fee (PPR).
Interest rate is set quarterly but is fixed for term of loan.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a Canadian citizen or a registered Nova Scotian company in good standing,
be the age of majority at the time of the application,
have a Fishing Masters Class certificate or five years of experience as captain of a vessel,
meet Department of Fisheries and Oceans eligibility requirements, if a new entrant.
have never held a licence in the commercial fishery (New Entrant), or be current commercial fishery licence holders who wish to diversify into a species for which they have never held a licence (New Species).

Documentation Needed:

The applicant must submit:

the application form,
a detailed five year business plan.

Other Things to Note:

Most probably it's the same program as License(s) & Gear Loan.

Program Contact:

Licence Loan Program

Startup & Expansion Loans

Amount:

$25,000

Type of Program:

Loan

Description:

The Startup & Expansion Loans are for small and medium-sized businesses run by entrepreneurs of all ages. Recipients get support to develop their business knowledge and skills in marketing, accounting, human resources and business planning. Low-interest loans of up to $25,000 are available, with flexible repayment terms and no penalty for early repayment of the principal.

Comments on Funding:

Funding ranges from $5,000 to $25,000 with a low interest rate of Prime + 2%, low principal payments and no penalty for early repayment.
All $5,000 loans are interest free for 6 months.
Up to $60,000 of Additional Funding Available Through CEED’s Community Partners.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

entrepreneurs of all ages,
businesses registered within the Halifax, Dartmouth and Bedford boundaries.

Application Steps:

Applicants must apply through the online form.

Other Things to Note:

CEED Programs are delivered in partnership with ACOA and the Province of Nova Scotia.

Program Contact:

Startup & Expansion Loans

Island Capital Partners’ Fund

Amount:

$500,000.00

Type of Program:

Investment

Description:

The Island Capital Partners' Fund invests in high growth potential Prince Edward Island companies.

Comments on Funding:

Investment size usually ranges from $100,000 to $500,000.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

Applicants must be Prince Edward Island companies with high growth potential.

Application Steps:

Applicants must contact Island Capital Partners for further details.

Program Contact:

Home - Island Capital Partners

Food Propel’s Growth Fund

Amount:

No Fixed Amount

Type of Program:

Investment

Description:

Food Propel's Growth Fund provides financial support to food companies on PEI to grow their business. Food Propel is an intensive one-year accelerator program providing selected companies workshops, market investigation, a dedicated mentor team, networking & learning and access to their Growth Fund.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be PEI food companies,
be willing to take the next critical step to capitalize on their growth potential.

Application Steps:

Applicants must contact Tyson Macinnis at (902) 628-7998.

Other Things to Note:

For more information applicants must contact Tyson MacInnis at (902) -367- 4405 or tyson@foodislandpei.ca.
The Food Island Partnership is supporting the growth of PEI food businesses, providing a series of activities to value-added food companies.

Program Contact:

Food Propel

Food Company Support