Business Investment Program — Equity Investment
grant_single|update January 24, 2025
NL, Canada
Equity funding for business improvement in Newfoundland and Labrador
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Mining, quarrying, and oil and gas extraction
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- Government of Newfoundland and Labrador
- Department of Industry, Energy and Technology (NL)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get equity funding to increase your productivity, take advantage of export potential and improve your competitiveness.
grant_single_labels|terms_and_conditions
This grant provides tailored financial solutions aimed at enhancing business growth through leveraging additional investments. The financing modalities focus on providing structured loan terms and conditions that facilitate strategic expansions.
- Repayable term loans are offered at the Bank of Canada interest rate plus 0.5%.
- Interest rates are variable and subject to change; consult local IET offices for current rates.
- Loans are designed to complement existing funding from conventional sources.
- Financial assistance aims to increase the capital base, enabling SMEs to secure further private-sector investments.
grant_single_labels|projects
The Business Investment Program supports projects that enhance strategic growth sectors and facilitate entry into export markets. These activities aim to strengthen the capital structure of SMEs by leveraging additional private investment.
- Projects that expand operational capabilities in strategic growth sectors.
- Activities aimed at increasing export potential and accessing new markets.
- Initiatives that complement funding from conventional financial sources to strengthen business capital bases.
grant_single|admissibleProjectsExample
$ 70,000
Modernize retail store interiors to attract more customers
$ 180,000
Upgrade equipment to improve productivity at a manufacturing plant
$ 80,000
Export development for specialty maple products
$ 220,000
Expand social services for vulnerable populations
$ 45,000
Develop a marketing campaign to promote organic products
$ 150,000
Research and develop eco-friendly packaging solutions
grant_single_labels|admissibility
Eligibility for the Business Investment Program requires specific criteria related to the applicant's business profile and operational status.
- The applicant must be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales.
- The applicant must demonstrate the ability to undertake the work identified in the project proposal.
- The applicant must demonstrate the ability to access the financial capital required to complete the project.
- The applicant must operate in a strategic sector as defined by Industry, Energy and Technology (IET).
- The applicant must be in good standing with the Government of Newfoundland and Labrador.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Business Investment Program must be small and medium-sized enterprises (SMEs) based and operating in Newfoundland and Labrador. These SMEs should have fewer than 100 employees and less than $10 million in sales. Additionally, applicants must demonstrate their ability to undertake the work identified in the project proposal, access the necessary financial capital to complete the project, operate within a strategic sector defined by IET, and be in good standing with the Government of Newfoundland and Labrador.
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant.
- Companies with more than 100 employees.
- Companies with sales exceeding $10 million.
- Companies not operating in strategic sectors as defined by IET.
grant_eligibility_criteria|eligible_expenses
The Business Investment Program supports activities that enhance the strategic growth of small and medium-sized enterprises in Newfoundland and Labrador. Eligible projects are those in sectors identified by Industry, Energy and Technology that foster business expansion and export potential, especially when it leads to leveraging new investments.
- Projects in strategic growth sectors identified by Industry, Energy and Technology.
- Initiatives with strong export potential where assistance is needed to enter or expand in external markets.
- Business expansions that require increased capital to attract new private sector investments.
- Projects that demonstrate a clear need for complementary funding beyond conventional sources.
grant_eligibility_criteria|zone
This grant is specifically targeted for businesses operating within Newfoundland and Labrador. These geographical areas have been prioritized to support local economic growth and development.
- Companies based in Newfoundland and Labrador.
grant_single_labels|criteria
The Business Investment Program has evaluation and selection criteria that must be met for consideration:
- Applicant must be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador.
- Ability to undertake the work identified in the project proposal.
- Ability to access the financial capital required to complete the project.
- Operate in a strategic sector as defined by IET.
- Good standing with the Government of Newfoundland and Labrador.
grant_single_labels|apply
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grant_single_labels|otherInfo
Additional key points for the grant applicants include focusing on compliance with general business regulations and the specific requirements of the program.
- Applicants should ensure they are compliant with all applicable Canadian business regulations and taxation laws.
- A clear demonstration of the project's alignment with strategic growth sectors is critical for a successful application.
- Applicants may need to provide detailed financial forecasts that underscore the project's viability and alignment with funding purposes.
- Businesses should show how the loan will specifically enable them to attract further private-sector investment.
- Collaborating with local business advisors or the IET office could enhance the viability and competitiveness of the application.
Apply to this program
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