Business Financing
Whether you're starting, expanding or relocating your business, chances
are you'll find a federal or provincial financing option tailored to your
needs.
Government of Canada
Canada Small Business Financing Program
Summary: The Canada Small Business Financing Program was created
to help small business reach their potential by making it easier for them
to get term business improvement loans to finance the purchase or improvement
of fixed assets for new or expanded operations.
Eligibility Criteria: Most small businesses starting
up or operating in Canada as long as their estimated annual gross revenue
do not exceed $5 million during the fiscal year.
Financial Parameters: The loan proceeds may be used
to finance the purchase or improvement of property, of leasehold improvements
or improvements to leased property, and the improvement of new or used
equipment maximum loan amount cannot exceed $250,000.
How to Apply: Contact the lender of your choice to find
out more about the Canada Small Business Financing Act.
Contact Information:
For technical questions about the Canada Small Business Financing Act
and inquiries from financial institutions contact:
Small Business Loans Administration
Industry Canada
8th Floor East
235 Queen Street
Ottawa, ON, Canada
K1A 0H5
Tel: 613-954-5540
Fax: 613-952-0290
Click here for more information
on CSBF program
or
Click here for
additional information
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Capital Leasing Pilot Project
Summary: The Capital Leasing Pilot Project is designed to build
on the success of the Canada Small Business Financing program. The five-year
pilot project will only apply to capital leases entered into for new or
used equipment. The goal of the pilot is to make capital leasing more
accessible to eligible small and medium-sized enterprises (SMEs).
Eligibility Criteria: Most small businesses starting
up or operating in Canada as long as estimated gross revenues do not exceed
$5 million during the first fiscal year in which they apply.
Financial Parameters: The maximum amount a small business
can access under the program is $250,000. This is the combined total and
is allowed for all its CSBF loans and capital leases.
Contact Information:
Capital Leasing Pilot Project
Small Business Loans Administration
Industry Canada
235 Queen Street
Ottawa, ON, Canada
K1A 0H5
Tel: 613-954-5540
Fax: 613-952-0290
Click here
for more information on the Capital Leasing Pilot Project
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Community Business Development Corporation
Summary: In its efforts to create jobs and help build a sustainable
Atlantic economy, the Atlantic Canada Opportunities Agency (ACOA) constantly
strives to improve access to federal government programming for Atlantic
Canadian Entrepreneurs. ACOA has linked its resources, both financial
and technical, to those of the 40 Community Business Development Corporations
(CBDCs) located throughout rural Atlantic Canada.
CBDC’s assist in the creation of small business and in the expansion,
modernization and stabilization of existing businesses. They offer both
technical and financial services. Financial assistance is usually in the
form of a loan but may include equity on loan guarantees.
Eligibility Criteria: Eligibility criteria may vary
from office to office.
Financial Parameters: All loans are repayable and the
maximum amount that can be invested in a business is $125,000.
Contact information:
Gander Area Community Development Corporation
175 Airport Blvd.
Burden Building
Gander, NL, Canada
A1V 1K6
Tel: 709-651-2979/4738
Fax: 709-651-3295
Click here
for more information on the Corporation
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Business Development Program
Summary: The Atlantic Canada Opportunities Agency (ACOA) Business
Development Program provides assistance to small and medium enterprises
in Atlantic Canada to start up, expand, modernize and become more competitive.
Eligibility Criteria: Most business sectors are eligible,
both commercial and not-for-profit are eligible.
Financial Parameters: The Business Development Program
can provide an unsecured, interest-free contribution towards eligible
costs.
Contact Information:
Atlantic Canada Opportunities Agency (ACOA)
109 Trans Canada Highway
Gander, NL, Canada
A1V 1P6
Tel: 709-651-4457
Fax: 709-256-4080
Click here
for more information on the Business Development Program
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Export Development Canada - EDC
Summary: EDC is a Canadian Financial Institution devoted exclusively
to providing trade finance services to support Canadian Exporters and
investors in some 200 markets, 130 of which are in developing markets.
Financial services include credit insurance, bonding and guarantees, political
risk insurance, direct loans to buyers, and lines of credit to other countries.
• Financing: EDC provides export financing to
buyers of Canadian capital goods and services.
• Direct Loans: Direct loans are a financing
arrangement between EDC and a buyer, or a borrower on behalf of a buyer.
• Lines of Credit: EDC can lend money to a foreign
bank, institution or purchaser, which then lends the necessary funds
to foreign purchasers of Canadian goods and services.
Eligibility Criteria: Dependant on type of program/assistance.
Financial Parameters: Dependant on type of program/assistance.
Contact Information:
Export Development Canada
151 O’Connor Avenue
Ottawa, ON, Canada
K1A 1K3
Tel: 613-598-2500
Fax: 613-237-2690
Click here
for more information on Export Development Canada
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Canadian Commercial Corporation
Summary: The Canadian Commercial Corporation (CCC) is Canada’s
export contracting agency, the CCC brings together buyers and Canadian
exporters through contracts built on the best possible terms and conditions.
The CCC was established in 1946 and is wholly owned by the Government
of Canada. For buyers outside of Canada, the CCC helps to facilitate the
purchase of high-quality Canadian products and services by acting as the
Prime Contractor or as the Procurement Agent.
Contact Information:
Canadian Commercial Corporation
Head Office
1100 - 50 O’Connor Street
Ottawa, ON, Canada
K1A 0S6
Tel: 613-996-0034
Toll Free in Canada: 1-800-748-8191
Fax: 613-995-2121
Click here for more information on the
Canadian Commercial Corporation
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The Canada/Atlantic Provinces COOPERATION Agreement on International
Business Development
Summary: This agreement provides a strategic framework and process
with the four Atlantic Provinces to establish shared economic development
priorities through comprehensive federal/provincial cost-shared agreements.
Specifically, the agreement provides financial assistance to export related
activities or research.
Eligibility Criteria: Assistance is targeted to:
• ACOA’s strategic priorities - Trade, Innovation and Technology;
Entrepreneurship and Skills Development; Access to Capital; Planning,
Advocacy and Coordination; Community Economic Development; and Investment.
• Community Economic Development
• Equitable promotion of economic development in all geographic
areas
Financial Parameters: The agreements are generally funded
on a 70% - 30% federal/provincial cost share basis.
Contact Information:
Atlantic Canada Opportunities Agency - ACOA
109 Trans Canada Highway
Gander, NL, Canada
A1V 1P6
Tel: 709-651-4457
Fax: 709-256-4080
Click here for more
information on the COOPERATION Agreement
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Canadian Aerospace Collaborative Technology Development Initiative
Summary: The Canadian Aerospace Collaborative Technology Development
Initiative is designed to encourage multi-partner research and development
projects to develop critical technologies by Canadian aerospace and defence
suppliers - especially small and medium-sized enterprises (SMEs) that
will maintain and enhance global competitiveness.
Eligibility Criteria: Eligible teams will consist of
at least two Canadian aerospace or defence firms of which one must be
a small and medium-sized enterprises (SMEs).
Financial Parameters:
• Support cost-shared on a 50-50 basis, with Technology Partnerships
Canada (TPC) contributions ranging from $100,000 to $1 million per project.
• Unconditional repayment over 10 years.
Contact Information:
Technology Partnerships Canada - TPC
Industry Canada
10th Floor
300 Slater Street
Ottawa, ON, Canada
K1A 0C8
Toll Free: 1-800-266-7531
Fax: 613-954-9117
Click here
for more information on Canadian Aerospace Collaborative Technology Development
Initiative
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Government of Newfoundland & Labrador
Micro Business Counseling & Lending
Summary: The Micro Business Counseling and Lending Program is
delivered by the Newfoundland and Labrador Federation of Cooperatives.
The program offers micro-business owners access to a series of small,
short-term business loans and ongoing business problem solving advice.
Eligibility Criteria: Micro-business owners have to
be members of a registered Business Credit Group before using the lending
service.
Financial Parameters: Loans range from $500.00 to $5,000.00.
Contact Information:
Department of Innovation, Trade & Rural Development (INTRD)
McCurdy Complex
Markham Place
P.O. Box 2222
Gander, NL, Canada
A1V 2N9
Tel: 709-256-1486 or 709-256-1484
Click here
for more information on the Micro Business Counseling and Lending Service
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The Canada/Atlantic Provinces COOPERATION Agreement on International
Business Development (IBDA)
Summary: The COOPERATION Agreement on International Business
Development (IBDA) sets out to fund activities that help enterprising
companies overcome such obstacles and seize fresh opportunities for growth
and prosperity. Overall, this Agreement provides a forum for the federal
and provincial governments to work together towards a common goal: increased
economic performance in Atlantic Canada through increased exports. The
partners in this COOPERATION Agreement are the Government of Canada and
the four Atlantic provinces: New Brunswick, Nova Scotia, Prince Edward
Island and Newfoundland and Labrador.
Eligibility Criteria: IBDA provides financial assistance
to export-related activities or research. Funding requests are accepted
from provincial and federal departments, municipalities, not-for-profit
corporations, business networks, associations, universities and other
incorporated, non-government organizations.
Financial Parameters: Evaluated on a case-by-case basis.
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Small and Medium Enterprise Fund
Summary: The Small and Medium Enterprise Fund provides
term loans and equity investments to small and medium-sized businesses
in strategic growth sectors with special emphasis on value-added manufacturing,
information technology, aquaculture, bio-technology, marine services,
agrifoods and tourism, where local competitive impact is not an issue.
The fund will also target business which have export potential and need
assistace to enter or expand in external markets.
Eligibility Criteria: Loan applications may be considered
from a proprietor, partnership, corporation, co-operative or non-profit
commerical organization operating within the province. All types ofbusiness
and sectors are eligible, except real estate services, retail services
and wholesale operations, beverage rooms and taverns.
Financial Parameters: A Term Loan of up to $250,000
total funding is available pre applicant and affiliated / associated companies
at Department's Base rate plus 3% interest wiht a minimum applicant investment
of 20% of project costs. An Equlity Loan of up to $50,000 per year; maximum
$100,000 in the aggregate per applicant and affiliated / associated companies
at 5% interest provided on a matching basis with "new" capital
investment in the form of cash or equivalent equity.
Contact Information:
Department of Innovation, Trade & Rural Development (INTRD)
McCurdy Complex
Markham Place
P.O. Box 2222
Gander, NL, Canada
A1V 2N9
Tel: 709-256-1486 or 709-256-1484
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Contact Information:
Atlantic Canada Opportunities Agency (ACOA)
Gander Office
109 Trans Canada Highway
Gander, NL, Canada
A1V 1P6
Tel: 709-651-4457
Fax: 709-256-4080
Province of Newfoundland and Labrador
Department of Innovation, Trade and Rural Development
4th Floor, West Block
Confederation Building
P.O. Box 8700
St. John’s, NL, Canada
A1B 4J6
Tel: 709-729-2781
Toll Free: 1-800-563-2299
Fax: 709-729-3208
Click here
for more information on the Canada/Atlantic Provinces COOPERATION Agreement
on International Business Development
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