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Small Business Assistance
Loan for Prince Edward Island (PEI) businesses to acquire, expand, manage debt or build retail malls
Last Update: March 4, 2026
Funding available
No Condition
Timeline
- Open continuously
Location
Prince Edward Island, Canada
Overview
Use this term loan to finance the acquisition of a business, expand, consolidate debt or construct a new mall.
/100
Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Increase performance through digital transformation
- Complete an acquisition or business transfer
- Optimize production processes
Eligible Funding
- Up to 80% of project cost
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- All industries
Location
- Prince Edward Island
Legal structures
- For-profit business
- Sole proprietorship
Annual revenue
- $ 10,000,000 maximum revenue
Organisation size
- 100 employees maximum
Audience
- Startups
Next steps
1
Determine your project
2
Validate your eligibility
Activities funded
This grant is tailored to support small businesses in Prince Edward Island with their capital asset needs, focusing on essential investments to enhance operational capabilities. The eligible projects are centered around acquiring or expanding assets that contribute directly to the business’s function and growth.
- Purchase and/or acquisition of an existing business.
- Expansion of current business operations through capital investments.
- New construction projects for business infrastructure.
- Purchase of machinery and equipment essential for business operations.
- Acquisition of real property and buildings for business use.
- Refurbishment of existing capital assets critical to business activities.
- Debt restructuring related to capital investments.
Eligibility
Who is eligible?
This loan program is specifically intended for small businesses and entrepreneurs operating in Prince Edward Island, Canada. Eligible applicants include those who are carrying on or intend to carry on a business within the province, and who purchase and resell products without altering them. The business must employ no more than 100 individuals and should not have annual gross sales exceeding $10 million in the fiscal year following the application. These loans are available for the purchase and acquisition of business assets, expansion, and new construction, excluding non-capital expenses such as working capital, goodwill, or franchise fees.Who is not eligible
Based on the provided context, the grant excludes certain vehicles and non-capital components from eligibility. However, explicit restrictions regarding specific types of companies or industries are not detailed in the provided information.
- Vehicles that do not directly contribute to the business’s income or sales are not eligible.
- Non-capital components such as goodwill and franchise fees are not eligible for financing.
Eligible expenses
This grant program focuses on the capital needs of Prince Edward Island's small businesses, supporting growth and expansion efforts through asset acquisition. The initiative is tailored to assist in acquiring significant business-related assets, thereby facilitating business growth in the province.
- Purchase and/or acquisition of existing businesses, allowing for the continuation or expansion under new ownership.
- Expansion of current business operations through the acquisition of new machinery or equipment.
- New construction projects aimed at business growth or establishment in the province.
- Refurbishment or acquisition of real property or buildings to enhance business capabilities.
Eligible geographic areas
This grant is specifically designed for businesses operating within Prince Edward Island. Eligible geographical areas are confined to those actively engaged or planning to engage in business activities within the province.
- Businesses carrying on, or intending to carry on, business in Prince Edward Island.
Additional information
Additional information relevant to the loan program includes:
- The loans are designed with flexible repayment options that can match the business's cash flow, providing potential applicants with repayment ease.
- Security for the loan is typically required, often in the form of a lien on the property, although alternate forms of security may be considered in certain cases.
- The maximum loan amount generally does not exceed 80% of the fair market value or purchase price of the asset being financed, whichever is less.
- Franchised operations can specifically apply for capital asset components, but non-capital components like goodwill and franchise fees are not eligible for loan financing.
Frequently Asked Questions about the Small Business Assistance Program
Here are answers to the most common questions about the Small Business Assistance. 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 Small Business Assistance?
Use this term loan to finance the acquisition of a business, expand, consolidate debt or construct a new mall.
How much funding can be received?
Small Business Assistance Funds up to 80% of admissible expenses.
Who is eligible for the Small Business Assistance program?
To be eligible for the Small Business Assistance program, you must:
Must carry on business, or intend to carry on business, in Prince Edward Island.
Must not employ more than 100 people.
Must not have had annual gross sales exceeding $10 million in the fiscal year immediately following the application as per section 9 of the Act.
What expenses are eligible under Small Business Assistance?
This grant is tailored to support small businesses in Prince Edward Island with their capital asset needs, focusing on essential investments to enhance operational capabilities. The eligible projects are centered around acquiring or expanding assets that contribute directly to the business’s function and growth. Purchase and/or acquisition of an existing business.
Expansion of current business operations through capital investments.
New construction projects for business infrastructure.
Purchase of machinery and equipment essential for business operations.
Acquisition of real property and buildings for business use.
Refurbishment of existing capital assets critical to business activities.
Debt restructuring related to capital investments.
Who can I contact for more information about the Small Business Assistance?
You can contact Government of Prince Edward Island (PEI).
Where is the Small Business Assistance available?
The Small Business Assistance program is available the province of Prince Edward Island.
Is the Small Business Assistance a grant, loan, or tax credit?
Small Business Assistance is a Loans and Capital investments
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