Amount: up to $10,000,000, repayable
Investing in Business Growth and Productivity Program (IBGP) is a Federal interest-free loan program that focuses on established businesses that have the potential to be global players with innovative and unique opportunities to accelerate growth and support job creation. This initiative supports economic growth and job creation by helping businesses to expand their markets and facilities, adopt new technologies and processes to improve productivity, and increase business capacity to participate in global markets and integrate into global value chains.
Eligibility Criteria: Investing in Business Growth and Productivity (IBGP)
- Small- and medium-sized enterprises (SMEs) with
- At least 15 employees
- A sustainable business model
- A profitable track record with the potential to become a strong global player
- Must be located in Southern Ontario
- Must be in business for at least 3 consecutive years
Eligible Cost: Investing in Business Growth and Productivity (IBGP)
- Adapting or adopting new technologies, processes, and related skills development;
- Facilities improvement or expansion;
- Business opportunity development, growth and integration in global value chains;
- Market development and expansion;
- Business expansion to support greater economic diversification.
- Writing application package for Investing in Business Growth and Productivity Program (IBGP)
- Writing Statement of Intent (SOI) to participate in Investing in Business Growth and Productivity Program
- Profitability analysis of the proposed project
- Preparing project financial calculations
- Assisting in report writing once IBGP application is approved.
Examples of Projects Funded by Investing in Business Growth and Productivity Program (IBGP):
The Investing in Business Growth and Productivity (IBGP) funding of up to $2 million to help Quality Cheese Inc. increase its competitiveness and expand its production capabilities. This funding will support the installation of state-of-the-art equipment at Quality Cheese Inc.’s new 64,000-square foot facility in Orangeville, Ontario. These upgrades are expected to increase Quality Cheese’s production of specialty cheeses including brie, camembert and blue cheese. The increased production capabilities will also enable the company to scale up its operations to meet growing demand in domestic and international markets. Through this project, Quality Cheese Inc. will improve energy and water efficiencies in their cheese production by integrating a water management system that improves environmental performance. This responds to an increasing number of environmentally-conscious customers who are looking for sustainable, locally-produced cheese. Source.