Yukon Venture Loan Guarantee Program
YT, Canada
Yukon business loan guarantee
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Department of Economic Development (YK)
- Government of Yukon
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a loan guarantee of up to $100,000 to start or grow a business.
grant_single_labels|projects
New business start-ups and expansions of businesses in Yukon with less than $5 million in gross revenue and less than 100 employees are eligible for this grant.
- New business start-ups
- Expansions of businesses in Yukon with less than $5 million in gross revenue
- Expansions of businesses in Yukon with less than 100 employees
grant_single|admissibleProjectsExample
$90,000
Starting a new indigenous cultural center focusing on arts and crafts workshops
$75,000
Opening a new artisanal bakery with specialized equipment and initial inventory
$40,000
Expanding an existing eco-friendly cleaning service with new equipment and marketing
$60,000
Expanding a local organic farm to increase production capacity and market reach
$85,000
Launching a tech startup focused on app development and customer acquisition
$95,000
Starting a new co-working space with comprehensive facilities
grant_single_labels|admissibility
- New business start-ups; or
- Expansions of businesses in Yukon that have less than $5 million in gross revenue and less than 100 employees.
- Eligible businesses must be registered in Yukon and pay Yukon corporate taxes.
grant_eligibility_criteria|who_can_apply
New business start-ups and expansions of businesses in Yukon with less than $5 million in gross revenue and less than 100 employees are eligible for the Yukon Venture Loan Guarantee Program.
- New business start-ups
- Expansions of businesses in Yukon
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for the Yukon Venture Loan Guarantee Program:
- Businesses with more than $5 million in gross revenue.
- Businesses with more than 100 employees.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for the Yukon Venture Loan Guarantee Program include:
- Business start-up costs
- Expansion expenses
- Working capital
- Equipment purchase
- Inventory costs
grant_single_labels|criteria
There are evaluation and selection criteria for the Yukon Venture Loan Guarantee Program:
- The viability of the business proposal
- The applicant's ability to repay the loan
- The potential economic benefits to Yukon
- The management experience and skills of the applicant
grant_single_labels|register
- Step 1: Confirm project qualification
- Email ecdev@yukon.ca or call 867-456-3803 or 1-800-661-0408, ext. 3803 for inquiries.
- Step 2: Approach participating financial institution
- Visit a participating financial institution for detailed information and application process.
- Step 3: Submit application
- Complete and submit your application to the chosen financial institution.
grant_single_labels|contact
ecdev@yukon.ca
867-456-3803
Apply to this program
Yukon Venture Loan Guarantee Program
The Yukon Venture Loan Guarantee Program is a funding initiative aimed at supporting new business start-ups and expansions of businesses in Yukon with less than $5 million in gross revenue and less than 100 employees. Eligible businesses must be registered in Yukon and pay Yukon corporate taxes.
Yukon Venture Loan Guarantee Program Overview
The Yukon Venture Loan Guarantee Program is a collaborative effort between the Government of Yukon and participating financial institutions to provide financial support to local businesses. This program offers loan guarantees ranging from $10,000 to $100,000 with a guarantee level of 65% of the venture loan principal. Eligible businesses include new start-ups or expansions of existing businesses in Yukon that meet the revenue and employee criteria.
Eligible businesses must be registered in Yukon and pay corporate taxes in the region. The repayment term for the venture loan is a maximum of 6 years, providing businesses with a reasonable timeline for repayment. To apply for the program, interested parties can contact the program administrators via email or phone to assess the project's eligibility. Applicants must then visit a participating financial institution to learn more about the program and submit their application.
Upon approval, there is a one-time fee of 1.5% of the guarantee amount payable when the guarantee is issued. This fee helps support the administration of the program and ensures its sustainability. The Yukon Venture Loan Guarantee Program aims to stimulate local economic growth by facilitating access to financial assistance for qualifying businesses, ultimately contributing to the overall prosperity of the Yukon business community.
