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Tourism Financing Assistance - Long Term Loan
Long-term financing for tourism operators
Last Update: June 19, 2026
Funding available
Varies by project
Timeline
- Open Date : July 9, 2024
Location
Prince Edward Island, Canada
Overview
Long-term financing is available for Prince Edward Island tourism operators to support business purchase, expansion, new construction, and fixed-asset improvements. The program may also finance tourism facilities, some debt restructuring, and seasonal operating capital in certain cases.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- No objectives are currently available
Eligible Funding
- Varies by project
Timeline
- Open Date : July 9, 2024
Eligible candidates
Eligible Industries
- Arts, entertainment and recreation
- Accommodation and food services
Location
- Prince Edward Island
Legal structures
- For-profit business
- Sole proprietorship
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- All groups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Purchase of a tourism business.
- Expansion or new construction of tourism facilities.
- Refurbishment or improvement of tourism facilities.
- Projects that help extend the tourist season.
Eligibility
Who is eligible?
- Tourism operators in Prince Edward Island.
- Businesses with a valid tourism establishment license.
Who is not eligible
- Bed and breakfast operations.
Eligible expenses
- Purchase of machinery, equipment, real property, and buildings.
- Refurbishment, repair, and updating of fixed assets.
- Operating capital for seasonal start-up in some cases.
Ineligible Costs and Activities
- Vehicles that do not directly contribute to business income or sales.
Eligible geographic areas
- Prince Edward Island
Selection criteria
- Projects that extend the shoulder or off-season are strongly encouraged.
- Special attention is given to projects that attract off-Island guests or extend their stay in Prince Edward Island.
How to apply
1
Ensure Eligibility
- Confirm that your business operates within Prince Edward Island.
- Verify that your business holds a valid tourism establishment license as per the Tourism Industry Act Regulations.
2
Determine Loan Type
- Identify the purpose of the loan, such as purchase of business, expansion, new construction, or updating fixed assets.
- Ensure your project meets other conditions, such as achieving a minimum 2½ star rating under the Canada Select Accommodation Rating Program upon completion.
3
Prepare Required Documentation
- Prepare a detailed business plan outlining the project, its benefits, and how it will extend the tourist season or improve tourism facilities.
- Collect financial statements or documentation demonstrating the financial health of your business.
4
Contact Finance PEI
- Reach out to Finance PEI for consultation on your project and to understand the specific loan terms and conditions that apply.
- Phone: 902-368-6200
- Email: financepei@gov.pe.ca
5
Submit Application
- Complete the formal loan application form available through Finance PEI.
- Include all necessary supporting documents as requested by Finance PEI.
6
Await Approval
- Finance PEI will review your application and may request further information or clarification.
- Await a decision on your application.
7
Finalize Loan Agreement
- If approved, review the loan terms and conditions provided by Finance PEI.
- Sign the loan agreement and fulfill any initial requirements or conditions set by Finance PEI.
8
Implement Project
- Use the funds as specified in your loan agreement to complete your project.
- Ensure all project goals and requirements are met, including the Canada Select Accommodation Rating Program's 2½ star rating if applicable.
Additional information
- Projects that extend the tourist season are strongly encouraged.
- Some loans may support debt restructuring.
- Operating capital may be available for seasonal start-up in the tourism sector.
Frequently Asked Questions about the Tourism Financing Assistance - Long Term Loan Program
What is the Tourism Financing Assistance - Long Term Loan?
Long-term financing is available for Prince Edward Island tourism operators to support business purchase, expansion, new construction, and fixed-asset improvements. The program may also finance tourism facilities, some debt restructuring, and seasonal operating capital in certain cases.
Who is eligible for the Tourism Financing Assistance - Long Term Loan program?
To be eligible for the Tourism Financing Assistance - Long Term Loan program, you must:
Prince Edward Island tourism operators.
Valid tourism establishment license required.
Project must meet rating requirements.
What expenses are eligible under Tourism Financing Assistance - Long Term Loan?
Purchase of a tourism business.
Expansion or new construction of tourism facilities.
Refurbishment or improvement of tourism facilities.
Projects that help extend the tourist season.
Who can I contact for more information about the Tourism Financing Assistance - Long Term Loan?
You can contact Government of Prince Edward Island (PEI).
Where is the Tourism Financing Assistance - Long Term Loan available?
The Tourism Financing Assistance - Long Term Loan program is available the province of Prince Edward Island.
Is the Tourism Financing Assistance - Long Term Loan a grant, loan, or tax credit?
Tourism Financing Assistance - Long Term Loan is a Loans and Capital investments
Who are the financial supporters of the Tourism Financing Assistance - Long Term Loan?
Tourism Financing Assistance - Long Term Loan is funded by Government of Prince Edward Island (PEI), Finance PEI