Financing for Small Businesses in Canada
Small Business Financing in Canada is essential for entrepreneurs looking to start or expand their ventures. Whether you are launching a new business or scaling an existing one, finding the right financing options can be crucial to your success. Understanding the various loans and credit options available can help you secure the funds needed to fuel your business growth. This article delves into the different loan programs, personal financing methods, and strategies for working with financial institutions to get your small business funded.

PSCE – Component 2
Investissement Québec (IQ)- Maximum amount : 60,000 $
- Up to 50% of project cost
- Manufacturing
- Wholesale trade
- Transportation and warehousing
- Information and cultural industries

MAPAQ — Food Processing Program — Component 2
Ministry of Agriculture, Fisheries and Food (MAPAQ)- From $25,000 to $150,000
- Up to 60% of project cost
- Manufacturing

Industrial Research Assistance Program (IRAP) – AI Assist
National Research Council Canada (NRC)- From $750,000 to $10,500,000
- Up to 100% of project cost
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Educational services

Efficient Solutions Program — Medium and Large Businesses Component
Hydro-Québec- Maximum amount : 5,000,000 $
- Up to 75% of project cost
- All industries

ESSOR – Component 1C: Support for investment projects (implementing a digital plan)
Investissement Québec (IQ)- Maximum amount : 50,000 $
- Up to 50% of project cost
- All industries

Manitoba — Export Development Program (EDP)
Government of Manitoba- From $2,000 to $30,000
- Up to 50% of project cost
- All industries

NGen — AI For Manufacturing Challenge (AI4M)
Next Generation Manufacturing Canada (NGen)- From $1,500,000 to $3,200,000
- Up to 40% of project cost
- Manufacturing

Creative Export Canada (CEC) — Export-Ready Stream
Canadian Heritage- Maximum amount : 2,500,000 $
- Up to 75% of project cost
- Information and cultural industries
- Arts, entertainment and recreation

CFIN Innovation Booster
Canadian Food Innovation Network (CFIN)- From $20,000 to $100,000
- Up to 50% of project cost
- Accommodation and food services

Workforce Training Measure (MFOR)
Gouvernement du Québec- Maximum amount : 100,000 $
- Up to 75% of project cost
- All industries

Innovative Solutions Canada Program
Innovation Canada- No Condition
- All industries

NRC IRAP – Support for clean technology
National Research Council Canada (NRC)- No Condition
- Utilities
- Construction
- Manufacturing
- Transportation and warehousing

ESSOR – Component 1B: Support for investment projects (digital diagnostics)
Investissement Québec (IQ)- Maximum amount : 20,000 $
- Up to 50% of project cost
- All industries

Creative Export Canada (CEC) — Export Development Stream (EDS)
Canadian Heritage- From $15,000 to $90,000
- Up to 75% of project cost
- Arts, entertainment and recreation

PSCE – Component 1
Investissement Québec (IQ)- From $25,000 to $250,000
- Up to 50% of project cost
- All industries

NovaScience Program — Support for the position of innovation and commercialization manager
Ministère de l'économie, de l'innovation et de l'énergie du Québec (MEIE)- Maximum amount : 75,000 $
- Up to 50% of project cost
- Professional, scientific and technical services

IP for Business
Canadian Intellectual Property Office (CIPO)- No Condition
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services

ISDE — Advanced technologies for open-source intelligence due diligence
Innovation, Science and Economic Development Canada (ISED)- Maximum amount : 1,500,000 $
- Information and cultural industries
- Professional, scientific and technical services
- Educational services
- Public administration

Protein Industries Canada — Technology Leadership
Protein Industries Canada- Up to 45% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing

REGI — Business Scale-up and Productivity (BSP) - Northern Ontario
Government of Canada- Maximum amount : 500,000 $
- Up to 50% of project cost
- Manufacturing
- Professional, scientific and technical services

Employment Consultation — Human Resources Management Support
Gouvernement du Québec- Maximum amount : 4,800 $
- Up to 40% of project cost
- All industries

AgriInnovate Program
Agriculture and Agri-Food Canada (AAFC)- Maximum amount : 5,000,000 $
- Up to 60% of project cost
- Agriculture, forestry, fishing and hunting

Economic development program to help revitalize territories (DEPART)
Investissement Québec (IQ)- No Condition
- Manufacturing
- Information and cultural industries
- Accommodation and food services

Arts Across Canada — Representation and Promotion
Canada Council for the Arts (CCA)- Maximum amount : 30,000 $
- Arts, entertainment and recreation

FAQDD — Returnable Container Recycling Equipment Modernization Program
Fonds d'action Québécois pour le développement durable (FAQDD)- From $7,500 to $7,500
- Up to 65% of project cost
- Retail trade
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Canadian Agricultural Strategic Priorities Program
Agriculture and Agri-Food Canada (AAFC)- Maximum amount : 1,000,000 $
- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting

Eastern Ontario Development Fund (EODF) — Business project loans
Government of Ontario- From $500,000 to $500,000
- Up to 15% of project cost
- Manufacturing

Support program for the development of reserved designations and promotional terms — Component 1
Ministry of Agriculture, Fisheries and Food (MAPAQ)- Maximum amount : 150,000 $
- Up to 75% of project cost
- Agriculture, forestry, fishing and hunting

ESSOR – Component 1A: Support for investment projects (feasibility studies)
Investissement Québec (IQ)- Maximum amount : 50,000 $
- Up to 50% of project cost
- Manufacturing
- Wholesale trade
- Retail trade
- Transportation and warehousing

Canada Nature Fund for Aquatic Species at Risk (CNFASAR)
Fisheries and Oceans Canada (DFO)- From $50,000 to $1,000,000
- Agriculture, forestry, fishing and hunting
- Professional, scientific and technical services
- Educational services
- Other services (except public administration)

CFIN — Innovation Scouting Fund
Canadian Food Innovation Network (CFIN)- From $20,000 to $75,000
- Up to 60% of project cost
- Manufacturing
- Wholesale trade
- Retail trade
- Professional, scientific and technical services

SIF — Collaborations and Networks projects
Innovation Canada- No Condition
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Educational services

CED — Regional Artificial Intelligence Initiative
Canada Economic Development for Quebec Regions (CED)- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries

Regional Development Program — Advanced Manufacturing and Innovation Competitiveness (AMIC)
Government of Ontario- From $500,000 to $1,500,000
- Up to 15% of project cost
- Manufacturing

Call for collaborative and structuring innovation projects in Quebec's strategic sectors
Gouvernement du Québec- Maximum amount : 1,000,000 $
- Up to 35% of project cost
- Utilities
- Manufacturing
- Transportation and warehousing
- Information and cultural industries

LTI³ Project
Institut d'innovation en logistique du Québec (InnovLOG)- Maximum amount : 28,500 $
- Up to 70% of project cost
- Transportation and warehousing

Starter Company Plus
Government of Ontario- Maximum amount : 5,000 $
- Up to 25% of project cost
- Manufacturing
- Retail trade
- Information and cultural industries
- Professional, scientific and technical services

NovaScience Program — Support for employment in research and innovation
Gouvernement du Québec- Maximum amount : 30,000 $
- Up to 50% of project cost
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance

Qualifying training in the workplace
Gouvernement du Québec- Maximum amount : 100,000 $
- All industries

MAPAQ — Ministerial initiative Proximity — Component 1
Ministry of Agriculture, Fisheries and Food (MAPAQ)- From $7,000 to $50,000
- Up to 70% of project cost
- Agriculture, forestry, fishing and hunting

Novoclimat — Construction professionals — Small Multiple-Unit Buildings
Gouvernement du Québec- No Condition
- Construction
- Real estate and rental and leasing

Support for music and variety companies — Component 2: Support for management activities and Component 3: Para-industrial sector - Project support
Société de développement des entreprises culturelles (SODEC)- No Condition
- Arts, entertainment and recreation

Indigenous Intellectual Property Program (IIPP) — Project Stream
Innovation Canada- Maximum amount : 50,000 $
- Professional, scientific and technical services
- Educational services
- Arts, entertainment and recreation
- Other services (except public administration)

Proof-of-Concept Program
Natural Products Canada (NPC)- From $100,000 to $350,000
- Up to 40% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Administrative and support, waste management and remediation services
- Health care and social assistance

Regional defence investment initiative (RDII) – Quebec
Canada Economic Development for Quebec Regions (CED)- Up to 90% of project cost
- Manufacturing
- Professional, scientific and technical services
- Public administration

MAPAQ — Food Processing Program Component 3 — Food quality and safety management
Ministry of Agriculture, Fisheries and Food (MAPAQ)- From $7,500 to $150,000
- Up to 50% of project cost
- Manufacturing

Capitale-Commerce
Quebec City (FLI)- From $5,000 to $75,000
- Up to 50% of project cost
- All industries

CELTIC-NEXT – Next Generation Communications Autumn 2025 call for proposals
National Research Council Canada (NRC)- No Condition
- Information and cultural industries
- Professional, scientific and technical services

Regional Tariff Response Initiative (RTRI) — Quebec
Government of Canada- From $100,000 to $1,000,000
- Up to 50% of project cost
- Manufacturing

Tourism Growth Program in Northern Ontario
Federal Economic Development Agency for Northern Ontario (FedNor)- Maximum amount : 250,000 $
- Up to 15% of project cost
- Accommodation and food services
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FedDev Ontario — Economic Development Initiative (Southern Ontario) — Not-For-Profit
Federal Economic Development Agency for Southern Ontario (FedDev)- No Condition
- Manufacturing
- Information and cultural industries
- Educational services
- Health care and social assistance

On-road Transportation Decarbonization — R&D Projects
Natural Resources Canada (NRCan)- From $500,000 to $1,500,000
- Up to 75% of project cost
- Utilities
- Manufacturing
- Transportation and warehousing
- Professional, scientific and technical services

DEL — Expertise Financing Grant
Développement économique de l'agglomération de Longueuil (DEL)- Maximum amount : 100,000 $
- Up to 50% of project cost
- Manufacturing
- Transportation and warehousing
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services

MAPAQ — Food Processing Program — Component 1
Ministry of Agriculture, Fisheries and Food (MAPAQ)- From $5,000 to $75,000
- Up to 50% of project cost
- Manufacturing

Musicaction - Global Funding Envelope – Support Program
Musicaction- Maximum amount : 600,000 $
- Up to 50% of project cost
- Arts, entertainment and recreation

MT Lab — Project Financing Program — Component 2
MT Lab- Maximum amount : 90,000 $
- Up to 75% of project cost
- Accommodation and food services

Innovative Solutions Canada — Challenge Stream for innovators
Innovation, Science and Economic Development Canada (ISED)- Maximum amount : 2,000,000 $
- All industries

Regional partnership and digital transformation agreement for tourism 2022-2025 – Digital development of a company
Tourisme Saguenay–Lac-Saint-Jean- From $5,000 to $25,000
- Up to 25% of project cost
- Arts, entertainment and recreation
- Accommodation and food services

Regional Homebuilding Innovation Initiative (RHII) for Northern Ontario
Federal Economic Development Agency for Northern Ontario (FedNor)- Maximum amount : 500,000 $
- Up to 50% of project cost
- All industries

EPRTNT Assistance Program
Tourisme Montréal- Minimum amount : 500,000 $
- Up to 80% of project cost
- Arts, entertainment and recreation
- Accommodation and food services

Regional Artificial Intelligence Initiative (RAII) for Northern Ontario
Federal Economic Development Agency for Northern Ontario (FedNor)- Up to 75% of project cost
- Agriculture, forestry, fishing and hunting
- Mining, quarrying, and oil and gas extraction
- Manufacturing
- Health care and social assistance

Doing business in French
Fédération des chambres de commerce du Québec (FCCQ)- Up to 100% of project cost
- Manufacturing
- Professional, scientific and technical services

Ambition-Compétences — Training for resilience and competitiveness in employment
Commission des partenaires du marché du travail (CPMT)- Up to 85% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Transportation and warehousing

Innovation Program — Stream 1 – Support for innovation projects
Investissement Québec (IQ)- Maximum amount : 500,000 $
- Up to 50% of project cost
- All industries

MAPAQ — Food Processing Program — Subcomponent 4.1 - Competitiveness of slaughterhouses and cheese dairies
Ministry of Agriculture, Fisheries and Food (MAPAQ)- From $7,500 to $150,000
- Up to 50% of project cost
- Manufacturing

Support for innovation projects
Investissement Québec (IQ)- Maximum amount : 500,000 $
- Up to 50% of project cost
- Manufacturing
- Professional, scientific and technical services
- Other services (except public administration)
- Public administration

PME MTL — Industrial and sustainable development investment fund
PME MTL- Maximum amount : 50,000 $
- Up to 80% of project cost
- All industries

Fabrication Process Development Challenge
FABrIC- From $200,000 to $1,500,000
- Up to 40% of project cost
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Educational services

Canada Book Fund Publishers Business Development — Business Planning
Canadian Heritage- Maximum amount : 50,000 $
- Up to 75% of project cost
- Information and cultural industries

OCI — Digital Modernization and Adoption Plan program (DMAP)
Government of Ontario- From $15,000 to $15,000
- Up to 50% of project cost
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services

Digital Main Street – Digital Transformation Grant Program
Digital Main Street- No Condition
- Retail trade

CRIBIQ — PARTENAR-IA — Industry
Consortium de recherche et d'innovations en bioprocédés industriels au Québec (CRIBIQ)- Maximum amount : 350,000 $
- Up to 75% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Professional, scientific and technical services
- Other services (except public administration)

Évolution-Compétences -Partnership for training and innovation
Gouvernement du Québec- Maximum amount : 50 $
- Up to 50% of project cost
- Educational services

Retail Modernization Project Grant (RMPG)
Ontario Centre of Innovation (OCI)- Maximum amount : 5,000 $
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration

Innovation Program — Stream 1 – Support for mobilising projects
Investissement Québec (IQ)- From $4,000,000 to $10
- Up to 50% of project cost
- Transportation and warehousing
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Cyber Security Innovation Network
Innovation, Science and Economic Development Canada (ISED)- Up to 50% of project cost
- Professional, scientific and technical services
- Educational services

MTL + ECOMMERCE — Digital Accelerator
MTL + ECOMMERCE- Up to 50% of project cost
- Retail trade
- Information and cultural industries
- Professional, scientific and technical services

QEPD — Diversify your economy - CED (QC)
Canada Economic Development for Quebec Regions (CED)- Up to 50% of project cost
- Information and cultural industries
- Professional, scientific and technical services
- Arts, entertainment and recreation
- Accommodation and food services

Social economy enterprises — Digital transformation
Quebec City (FLI)- Maximum amount : 20,000 $
- Up to 80% of project cost
- All industries

MAPAQ — Prime-Vert — Component 3.1
Ministry of Agriculture, Fisheries and Food (MAPAQ)- Maximum amount : 107,950 $
- Agriculture, forestry, fishing and hunting

Construction Sector Digitalization and Productivity Challenge program – Call for proposals
National Research Council Canada (NRC)- Maximum amount : 850,000 $
- Construction

Southwestern Ontario Development Fund — Community economic development projects
Government of Ontario- Maximum amount : 1,500,000 $
- Up to 50% of project cost
- All industries

Alberta Innovates — Agriculture & Environment (AE) Program
Alberta Innovates- Maximum amount : 750,000 $
- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting
- Professional, scientific and technical services
- Public administration

EcoAction - Freshwater Sustainability and Innovation across Canada Stream
Canada Water Agency (CWA)- From $25,000 to $200,000
- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting
- Utilities
- Manufacturing
- Professional, scientific and technical services

Grant for a circular economy assessment
City of Montreal (MTL)- Maximum amount : 15,000 $
- Up to 75% of project cost
- Manufacturing
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services
- Other services (except public administration)

Regional Tariff Response Initiative (RTRI) — Prairie Provinces
Prairies Economic Development Canada (PrairiesCan)- Up to 25% of project cost
- Manufacturing
- Wholesale trade
- Transportation and warehousing
- Professional, scientific and technical services

Regional Tariff Response Initiative (RTRI) — Northern Ontario
Federal Economic Development Agency for Northern Ontario (FedNor)- Maximum amount : 1,000,000 $
- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting
- Mining, quarrying, and oil and gas extraction
- Manufacturing

Regional Tariff Response Initiative (RTRI) — Southern Ontario
Federal Economic Development Agency for Southern Ontario (FedDev)- From $125,000 to $1,000,000
- Up to 75% of project cost
- Manufacturing
- Wholesale trade
- Retail trade
- Transportation and warehousing

PME MTL — Innovation, productivity, and sustainable development fund
PME MTL- Maximum amount : 50,000 $
- Up to 80% of project cost
- All industries

AI Compute Access Fund
Innovation, Science and Economic Development Canada (ISED)- From $67,000 to $3,350,000
- Up to 67% of project cost
- All industries

Regional Tariff Response Initiative (RTRI) — British Columbia
Government of Canada- From $200,000 to $10,000,000
- Up to 75% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing

International Technology Pilot and Demonstration Program — Cleantech (Global Markets)
National Research Council Canada (NRC)- From $75,000 to $700,000
- Up to 80% of project cost
- Utilities
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services

Digital Health Innovation Fund
Digital Health & Discovery Platform (dhdp)- Minimum amount : 1 $
- Up to 75% of project cost
- Professional, scientific and technical services
- Educational services
- Health care and social assistance

Epic MegaGrants
Epic Games- From $5,000 to $150,000
- Information and cultural industries
- Professional, scientific and technical services
- Arts, entertainment and recreation

OTF — Community Building Fund - Operating Stream
Ontario Trillium Foundation (OTF)- From $10,000 to $250,000
- Up to 80% of project cost
- Arts, entertainment and recreation

Food Safety and Growth Initiative
Sustainable Canadian Agricultural Partnership (SCAP)- Maximum amount : 75,000 $
- Up to 50% of project cost
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Wholesale trade
- Transportation and warehousing

MTRIC — PSO SME
Metal Transformation Research and Innovation Consortium (MTRIC)- Maximum amount : 1,500,000 $
- Up to 40% of project cost
- Mining, quarrying, and oil and gas extraction
- Manufacturing

Canada-Ontario Job Grant (COJG)
Government of Ontario- Maximum amount : 10,000 $
- All industries

Sustainable Affordable Housing
Green Municipal Fund (GMF)- No Condition
- Real estate and rental and leasing
- Public administration

INVEST North Program — Innovation Stream
Northern Ontario Heritage Fund Corporation (NOHFC)- Maximum amount : 2,000,000 $
- Up to 50% of project cost
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services