Business Investment Program — Term Loan
NL, Canada
Loan 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
- grant_single|allIndustries
grant_single|grantors
- Department of Industry, Energy and Technology (NL)
- Government of Newfoundland and Labrador
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a term loan at a 4.5% interest rate, for increasing productivity, taking advantage of export potential and improving your competitiveness.
grant_single_labels|projects
There are eligible activities for this grant:
- Undertaking projects in strategic growth sectors as identified by Industry, Energy and Technology.
- Projects requiring assistance to enter or expand in external markets.
- Projects that complement funding from conventional sources and increase the capital base of businesses.
grant_single|admissibleProjectsExample
$400,000
Quebec City
Launching an export strategy for organic food products from Quebec City
$200,000
Toronto
Improving digital infrastructure for a non-profit organization
$850,000
Calgary
Developing a renewable energy initiative focusing on solar installations
$600,000
Halifax
Expanding manufacturing capabilities to increase productivity at Halifax facility
$650,000
Vancouver
Developing new software solutions for fintech market
$300,000
Winnipeg
Establishing a cooperative grocery store with a focus on local products
grant_single_labels|admissibility
- Be a small and medium-sized enterprise (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.
grant_eligibility_criteria|who_can_apply
Eligible companies for this grant must be small and medium-sized enterprises (SMEs) based in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales. They must operate in strategic sectors as defined by Industry, Energy and Technology.
- Small and medium-sized enterprises (SMEs)
- Based and operating in Newfoundland and Labrador
- Having fewer than 100 employees and less than $10 million in sales
- Operating in strategic sectors as defined by Industry, Energy and Technology
grant_eligibility_criteria|who_cannot_apply
Some types of companies that are not eligible for this grant include:
- Companies with more than 100 employees.
- Companies with sales exceeding $10 million.
grant_single_labels|criteria
There are evaluation and selection criteria for the Business Investment Program grant in Canada. The criteria include being a small and medium-sized enterprise in Newfoundland and Labrador, demonstrating the ability to complete the proposed project, accessing required financial capital, operating in a strategic sector, and being in good standing with the government.
- 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.
- Demonstrate the ability to undertake the work identified in the project proposal.
- Demonstrate the ability to access the financial capital required for the project.
- Operate in a strategic sector as defined by IET.
- Be in good standing with the Government of Newfoundland and Labrador.
grant_single_labels|register
- Step 1: Review the eligibility criteria for the grant
- Ensure the business is a small to medium-sized enterprise with fewer than 100 employees and less than $10 million in sales
- Confirm the business operates in a strategic sector as defined by Industry, Energy and Technology
- Check if the business is in good standing with the Government of Newfoundland and Labrador
- Step 2: Prepare the project proposal
- Demonstrate the ability to undertake the work outlined in the proposal
- Show the capacity to access the necessary financial capital for the project
- Step 3: Complete and submit the appropriate application form
- Use the provided forms for commercial programs, ensuring all required information is included
- Contact the Industry, Energy and Technology office for program details and assistance
Apply to this program