We’re thrilled to share an exciting update from one of our clients, a steel manufacturer in the Toronto area, which secured significant funding – a 2.1M government interest-free loan with a forgivable portion of 500K.
This boost has empowered the company to embark on an ambitious expansion project to revolutionize its operations through advanced automation and robotics.
The funding also enabled the manufacturer to achieve the following results:
- Creation of 36 new full-time positions, contributing to job creation and upskilling within the workforce.
- Targeted aim to reach 5% in export sales, aligning with the company’s vision of market expansion and revenue diversification.
- Projected a 60% increase in output efficiency, demonstrating the company’s dedication to operational excellence and market competitiveness.
- Expected increase in production capacity up to 80% per week, resulting in an additional revenue growth.
So, while more funding programs are opening their intakes this year, you should consider applying for relevant government loans and grants, as they might significantly boost your business growth.