
Business Investment Program — Term Loan
Last Update: July 22, 2025
NL, Canada
Loan for business improvement in Newfoundland and Labrador
At a glance
Eligible Funding
- No Condition
Timeline
- Unspecified
Financing Type
Loans and Capital investments
Eligible Industries
- Manufacturing
Funds Providers
Unspecified
Program status
Open
Overview
Get a term loan at a 4.5% interest rate, for increasing productivity, taking advantage of export potential and improving your competitiveness.
Financing terms and conditions
This program provides repayable term loans to support businesses in strategic growth sectors identified by Industry, Energy, and Technology. The loans are intended to bolster business capital and encourage new private-sector investments.
- Repayable term loans are offered at the Bank of Canada interest rate plus 0.5%.
- Funding is meant to complement conventional funding sources where a financial need has been demonstrated.
- The loan is designed to help businesses increase their capital base and leverage new private-sector investments.
Activities funded
This program provides financial support for projects aimed at enhancing business growth and market reach. Eligible activities focus on expanding operational capacities and accessing new markets.
- Expansion or upgrade of business facilities to align with strategic growth sectors.
- Market research and development activities aimed at entering or expanding export activities.
- Investment in technology and infrastructure to support business scalability.
- Initiatives designed to improve business operations and competitiveness in external markets.
Examples of admissible projects:
$ 600,000
Expanding manufacturing capabilities to increase productivity at Halifax facility
$ 650,000
Developing new software solutions for fintech market
$ 400,000
Launching an export strategy for organic food products from Quebec City
$ 850,000
Developing a renewable energy initiative focusing on solar installations
$ 200,000
Improving digital infrastructure for a non-profit organization
$ 300,000
Establishing a cooperative grocery store with a focus on local products
Eligibility
Eligibility for this grant is determined by specific criteria related to the applicant's business characteristics and project capabilities.
- The applicant must be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador.
- The SME should have fewer than 100 employees.
- The business should have 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 business should 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.
Who is eligible?
Small and medium-sized enterprises (SMEs) based and operating in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales can apply for the Business Investment Program. Eligible SMEs must be able to demonstrate their capability to undertake the proposed work, their ability to secure necessary financial capital, operate in a strategic sector as defined by Industry, Energy and Technology (IET), and be in good standing with the Government of Newfoundland and Labrador.
Who is not eligible
Some types of companies that are not eligible for this grant include:
- Companies with more than 100 employees.
- Companies with sales exceeding $10 million.
Eligible expenses
The Business Investment Program facilitates strategic growth and export expansion for SMEs in Newfoundland and Labrador. Eligible activities focus on enhancing operational capabilities in strategic sectors.
- Projects that aim to enter or expand in external markets, demonstrating export potential.
- Activities that complement funding from conventional sources, indicating a clear need for additional financial support.
- Initiatives intended to increase the business's capital base to attract private-sector investments.
Eligible geographic areas
This grant is available to companies operating within a specific geographical area as defined by the funding body. Eligible companies must be located in Newfoundland and Labrador.
- Newfoundland and Labrador
Selection 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.
How to apply
1
Determine Eligibility
- Ensure your business is an eligible SME based in Newfoundland and Labrador.
- Confirm your business operates within an IET strategic growth sector.
2
Prepare Application Materials
- Compile a detailed project proposal demonstrating the project's feasibility and financial plan.
- Prepare necessary financial statements and documents showing your business's current standing.
3
Complete Application Form
- Download and fill out the "Application for Commercial Programs" or "Application for Commercial Programs – Fillable PDF" from the provided resources.
- Ensure all sections are accurately completed and supporting documents are attached.
4
Contact IET Office
- Reach out to the Industry, Energy and Technology office nearest you for assistance or clarification needed on your application.
- Discuss any specific requirements or updated procedures with IET representatives.
5
Submit Application
- Submit the completed application form alongside all necessary documents to the specified contact addresses.
- Choose a method of submission (mail or online) as instructed by the IET office.
6
Confirmation of Receipt
- Wait for confirmation that your application has been received by the IET office.
- Retain any reference number or receipt provided for future inquiries.
Additional information
Here are additional relevant details for this program:
- The term loans are designed to complement other financing methods, enhancing the business's capital base.
- The interest rate is variable as it is tied to the Bank of Canada rate, and applicants should verify the current rate before applying.
- The program is aimed at fostering private sector investments alongside the provided loans.
- Businesses with export potentials and expansion plans in external markets are particularly encouraged to apply.
- Applicants should maintain good relationships with the Government of Newfoundland and Labrador to qualify and retain eligibility.
Frequently Asked Questions about the Business Investment Program — Term Loan Program
Here are answers to the most common questions about the Business Investment Program — Term Loan. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Business Investment Program — Term Loan?
How much funding can be received?
What is the deadline to apply?
Is the Business Investment Program — Term Loan a grant, loan, or tax credit?
Who are the financial supporters of the Business Investment Program — Term Loan?
Who is eligible for the Business Investment Program — Term Loan program?
Who can I contact for more information about the Business Investment Program — Term Loan?
Where is the Business Investment Program — Term Loan available?

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