
Yukon Venture Loan Guarantee Program
- Open continuously
Overview
Get a loan guarantee of up to $100,000 to start or grow a business.
At a glance
Funding available
- Reduce environmental footprint
- Maximum amount : 100,000 $
- Minimum amount : 10,000 $
- Up to 65% of project cost
- Open continuously
Eligible candidates
- All industries
- Yukon
- For-profit business
- Sole proprietorship
- $ 5,000,000 maximum revenue
- 100 employees maximum
- Rural or Northern Residents
- Startups
Next steps
Activities funded
This program supports new business ventures and expansions in Yukon, facilitating access to financing through government-backed loan guarantees. Eligible activities focus on establishing new companies and expanding existing ones that meet specific revenue and employment criteria.
- Start-up activities for new businesses registered in Yukon.
- Expansion projects for existing Yukon businesses seeking to grow operations.
Eligibility
Who is eligible?
Eligible applicants for the Yukon Venture Loan Guarantee Program include new business start-ups or existing Yukon businesses planning expansions. To qualify, these businesses must have less than $5 million in gross revenue and fewer than 100 employees. Additionally, businesses must be registered in Yukon and pay Yukon corporate taxes.
Who is not eligible
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.
Eligible expenses
Eligible expenses for the Yukon Venture Loan Guarantee Program include:
- Business start-up costs
- Expansion expenses
- Working capital
- Equipment purchase
- Inventory costs
Eligible geographic areas
This grant specifically targets businesses that are registered and operating in the Yukon territory. Eligibility is defined by the location within this geographical area to support local economic growth.
- Businesses must be registered in Yukon.
- Organizations must operate within the Yukon territory and pay Yukon corporate taxes.
Additional information
The Yukon Venture Loan Guarantee Program offers several important details regarding the application process and conditions for businesses.
- The guarantee level provided by the program is explicitly calculated based on 65% of the principal amount of a venture loan, aimed at covering potential losses.
- Applicants are required to pay a one-time fee of 1.5% of the guarantee amount, which is due when the loan guarantee is issued.
- The program emphasizes collaboration with participating financial institutions, suggesting that a good relationship with these institutions might aid the application process.
- The government specifically shares the risk with the lender by guaranteeing part of the loan, which can encourage lenders to finance businesses that might otherwise be considered too risky.
- Businesses should ensure their projects align with the strategic interests of Yukon to maximize applicability and guarantee success.
Contacts
Frequently Asked Questions about the Yukon Venture Loan Guarantee Program Program
What is the Yukon Venture Loan Guarantee Program?
How much funding can be received?
Who is eligible for the Yukon Venture Loan Guarantee Program program?
What expenses are eligible under Yukon Venture Loan Guarantee Program?
Who can I contact for more information about the Yukon Venture Loan Guarantee Program?
Where is the Yukon Venture Loan Guarantee Program available?
Is the Yukon Venture Loan Guarantee Program a grant, loan, or tax credit?
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