How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the Find a Licensed Insolvency Trustee?

Find a Licensed Insolvency Trustee is funded by Innovation, Science and Economic Development Canada (ISED), Office of the Superintendent of Bankruptcy Canada (OSB), Government of Canada, Innovation Canada

What are Find a Licensed Insolvency Trustee's eligibility criterias?

The individual must be a Licensed Insolvency Trustee (LIT) actively practicing or associated with a corporate trustee. The individual or corporate entity must be registered with the appropriate federal body as a recognized LIT. The LIT must offer services related to corporate or consumer insolvency.

Find a Licensed Insolvency Trustee

Last Update: January 24, 2025

Canada

Advice and options for dealing with unmanageable debt

Find a Licensed Insolvency Trustee at a glance

Eligible Funding

No Condition

Timeline

Open Date : July 1, 2024
Closing date : December 31, 2024

Financing Type

Other Support

Expert Advice

Eligible Industries

Finance and insurance
Professional, scientific and technical services
Administrative and support, waste management and remediation services

Grant Providers

Innovation, Science and Economic Development Canada (ISED)
Office of the Superintendent of Bankruptcy Canada (OSB)
Government of Canada
Innovation Canada

Status

Closed

Overview of the Find a Licensed Insolvency Trustee program

Connect with a federally licensed professional who can help you restructure your business, file a proposal, or file for bankruptcy.

Eligible projects & activities

Examples of admissible projects:

$ 95,000

Support restructuring of a for-profit company with non-resident office expenditures

$ 120,000

Restructuring financial cooperative with new resident office and head office costs

$ 85,000

Restructure a non-profit organization by optimizing head office and office expenses

$ 90,000

Facilitate restructuring of a social economy enterprise by covering head office and resident expenses

$ 72,000

Support for sole proprietorship undergoing restructuring, including office and head office expenses

$ 104,000

Restructure general partnership by covering head office and business office expenses

Eligibility criteria of the Find a Licensed Insolvency Trustee program

**Eligibility Criteria for this grant:**

Applicants must be Canadian citizens or permanent residents.
Businesses must be registered and operating in Canada.
Applicants must meet the specified financial thresholds.

Who is eligible?

Eligible applicants for this grant are active Licensed Insolvency Trustees (LITs) in Canada who provide advice and services to individuals and businesses facing debt challenges. These professionals are federally regulated and must be actively practicing, which includes being able to file professional engagements either individually or through a corporate trustee affiliation.

Who is not eligible

This grant provides information about Licensed Insolvency Trustees and does not give specific details about ineligible companies or industries. Without specific restrictions listed, we cannot determine who cannot apply for this grant.

Eligible expenses

Eligible expenses for this grant may include:

Business office expenses
Resident office costs
Non-resident office expenses by appointment
Head office expenditures

Eligibility criteria of the Find a Licensed Insolvency Trustee program

The evaluation and selection criteria for this grant include financial need, project feasibility, and adherence to program guidelines. Applicants will be assessed based on their ability to demonstrate these criteria effectively.

Financial need
Project feasibility
Adherence to program guidelines

How to apply to the Find a Licensed Insolvency Trustee program

Determine your eligibility for the grant by reviewing the specific criteria and requirements outlined by the grant provider.

Prepare all necessary documentation and information required for the application process.

Complete the grant application form accurately and thoroughly.

Submit the application within the specified deadline, ensuring all details are correct and all supporting documents are included.

Await notification from the grant provider regarding the status of your application.

Additional information

Here are additional relevant details for Licensed Insolvency Trustees:

Licensed Insolvency Trustees are federally regulated professionals that can provide advice and services to manage debt problems effectively.
An LIT may either file professional engagements under their personal name or represent a corporate trustee.
There are different office types where LITs can operate, such as business offices, resident offices, non-resident offices, and head offices.
The operational status of LITs can vary, with some being actively practicing, semi-active, or inactive, affecting their engagement capabilities.
LITs can register BIA Insolvency Counsellors, who are then accountable to the LIT for specific insolvency cases.
It provides a comprehensive directory to find Licensed Insolvency Trustees by name or location.
LITs fulfill their duties under specific regulatory frameworks and directives to serve both corporate and consumer insolvency needs.