Grants for Blog Post

Why you should look closely on government loans?

Last week we announced the launch of two new Federal loans for businesses: the Jobs and Growth Fund and the Aerospace Regional Recovery Initiative (ARRI). However, many readers of our newsletter and blog were skeptical about them because they were not grants.

We see the trend across all levels of government that grants are being slowly replaced with interest-free loans. Given the tremendous amount of money the governments spent on fighting pandemic, we think that the business community should start getting used to government loans. We expect that they will replace many grants.

The good news, however, is that government loans have three key advantages:

  1. No interest.
    Although the interest rates are generally low, don’t get confused that there is no big difference between 0% and 5%. If you add up all the interest accumulated over the years, you will see significant savings if you apply for government loan.
  2. No collateral or personal security.
    As my banker friend jokes, the bank would have taken a first child as loan security if it was allowed to do so. The government doesn’t even demand your business assets or personal property as security.
  3. Flexible repayment schedule.
    The government loan is repaid over 5-7 years, and the payment schedule may be negotiated at the time of approval. Furthermore, in most cases, you don’t start repayment until after 12 months of the project completion. And the project may last 3-4 years.

I hope the above information helps to demystify some of the misconceptions about government loans.

Fill out the Eligibility Check form now, to make sure you don’t miss this funding opportunity http://www.fgwinc.ca/eligibility.

Fisheries and Aquaculture Clean Technology Adoption Program (FACTAP)

Amount: Up to 75% of eligible project costs (maximum of $1.0 million per year).

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Export Marketing Assistance (EMA) Program

Amount: Up to $30,000 or maximum of 30% of total eligible project costs over $100,000.

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Aerospace Regional Recovery Initiative

Amount: up to 50 percent of eligible costs with up to 10 million per project.

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Jobs and Growth Fund

Amount: up to 50 percent of eligible costs with up to 10 million per project.

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What the new Canada Recovery Hiring Program is about?

As the economy reopens and most businesses return to pre-pandemic revenues, the Federal government will gradually phase out the Canada Emergency Wage Subsidy program (CEWS). The last eligible period ends on September 25, 2021. The % of the subsidy will gradually decrease month after month.

However, the pandemic did not impact all businesses equally, and some will continue to struggle for some time. This is exactly what the new Canada Recovery Hiring Program (CRHP) is for. CRHP will run until November 20, 2021. It is available for businesses that experienced at least a 10% revenue drop due to the impact of the pandemic compared to the previous periods. The rates of that subsidy will be fixed depending on the period.

If your business continues to struggle for the next few months, both CEWS and CRHP will co-exist, and you will apply for whichever gives you the maximum subsidy. The application is available on the CRA website, under My Business Account section.

Fill out the Eligibility Check form proactively at http://www.fgwinc.ca/eligibility, and we will contact you when the details of the above programs are announced.

No grant for equipment or building? No problem

It is not uncommon in the government funding universe that the grants for equipment or leasehold improvement come and go. Others depend on the location of your business and you only qualify if you are located in a remote or rural area. It is also extremely rare that the government pays for things like buying land or building.

One solution in this situation is to do nothing and wait for the government to launch the funding on day. But can your business afford to wait uncertain amount? Would you rather consider the alternative program?

In case of equipment, building or leasehold improvement, the alternative is the Canada Small Business Financing Program (CSBFP). This is not a grant though. This is a loan, 85% of which is guaranteed by the Federal government. If something goes not according to the plan, your business will only be liable for 15% of the loan amount.

The program works for both established companies and start-ups. It will also be soon modified, and the maximum amounts of the loan will be increased, so stay tuned.

We assist our clients with finding the right financial institution that offers this program, writing business plan to support the application, and collecting documentation.

Need help with other government funding programs but don’t know where to start or how to prepare an application?

Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.

Happy Canada Day and Gift from Feds!

Happy Canada Day! It’s a day when I realize how grateful I am for the chance to now live in this great country and all the opportunities it offers. This year, the holiday is overshadowed, and I stand with those who chose not to celebrate. At the very least, I hope everyone will enjoy the outdoors and meet friends and family.

Here is a gift for you. Last night the Senate (on its last business day before summer break) finally passed the Federal budget bill. It means that the new government funding programs proposed back in April will soon be open for applications. We expect them in August or September, 2021.

Among the new programs are the government grant for the aerospace sector, national funding to help adopt hardware and software, continuation of the emergency subsidies and more.

Fill out the Eligibility Check form proactively at http://www.fgwinc.ca/eligibility, and we will contact you when the details of the above programs are announced.

Webinar: Grant Funding and Monitoring & Verification Tech for Energy Savings

We would like to thank all of you for joining us at the “Grant Funding and Monitoring & Verification Tech for Energy Savings webinar. It was an absolute success and we hope you got a chance to join us live.

In case you missed it or would like to watch it again, we have a recording of the webinar available now.

Additionally, we have the presentation deck for your refence available here: Grant Funding and Monitoring & Verification Tech for Energy Savings

The information is valid as of June 24, 2021.

Need help with government funding programs and don’t know where to start or how to prepare an application?

Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.

Collaborative Research and Development Projects

Amount: Up to 50% of eligible costs to a maximum of $600,000 for approved R&D Projects.

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The Digital Media Tax Credit Guide For Gaming Companies In Canada (IDMTC)

Amount: up to 40% tax credit on qualifying wages/salary.

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Investments in Forest Industry Transformation (IFIT) Program

Amount: maximum 50% of total project cost up to $10M per project.

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[Webinar Invitation] Grant Funding and Monitoring & Verification Tech for Energy Savings

We would like to invite you to the upcoming webinar Grant Funding and Monitoring & Verification Tech for Energy Savings”.

This webinar will address the value of Monitoring and Verification technology “M&V” and how it is critical to make energy use and costs visible in the commercial, industrial, institutional and manufacturing sectors. Properly employed it can help mitigate energy costs, waste, and machine failure while maintaining continuous compliance and performance records, and is critical in helping guide process and asset replacement decisions.
M&V tech is critical to accessing and implementing grant programs such as SaveOnEnergy and others that will be covered in the webinar.

Date and Time: Thursday, June 24, 2021, 12:00 pm EST

Seminar Speakers:

Graham Fowler – President, Green Management Group

Igor Chigrin – Business Funding Expert, Fair Grant Writing

Click here to find out more about grants in Canada

Do you qualify for government funding? Check eligibility at https://www.fgwinc.ca/eligibility.

Export Development Program (EDP)

Amount: up to 50% of eligible costs to a maximum of
$30,000. 

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Digital Transformation Offensive (OTN)

Amount: Funding is intended for collaborative projects responding to sectoral and multisectoral challenges. Financial assistance will be granted in part through calls for projects.

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Productivity Innovation

Amount: A term loan funding up to 100% of a project with a minimum contribution of $ 50,000.

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SME in Action Program – Support for SME Productivity component

Amount: non-refundable contribution of up to 40% of eligible project expenses, up to a maximum of $ 50,000 per project.

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SME in Action Program – Support Component for the Implementation of Investment Projects (Feasibility Studies)

Amount: non-refundable contribution of up to 40% of eligible project expenses, up to a maximum of $ 100,000 per project, with the exception of equipment manufacturers and processors in the aluminum, for which the maximum can reach $ 250,000 per project.

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Industry 4.0 audit: Successful digital transformation of your business

Amount: non-refundable contribution that covers 50% of eligible expenses of maximum aid rate and cumulation of government assistance up to a maximum of $ 20,000 for the duration of the program.

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[Webinar Invitation] Creating a Business Plan

We would like to invite you to the upcoming online event organized by RBC Royal Bank of Canada “Creating a Business Plan”.

Whether you’re just starting out or looking to grow your business, join us for a discussion on how to create a sound business plan that will help you develop a blueprint to a successful and fully functioning business.

Date and Time: Wednesday, June 16, 2021 7:00 PM EDT

Seminar Speaker: Igor Chigrin – Business Funding Expert, Fair Grant Writing.

 

Click here to find out more about grants in Canada

Do you qualify for government funding? Check eligibility at https://www.fgwinc.ca/eligibility.

3 Funding Deadlines in June to Watch

This month is full of expected and unexpected announcements about the coming completion of several intakes for government funding.

First of all, the CanExport program closes its doors on June 11th. The program experienced tremendous demand for funding after the list of eligible expenses started to include e-commerce tools, website development, and digital advertising, focusing on international markets. The program provided 75% of the project expenses.

Secondly, Agri-Tech Innovation Program in Ontario closes on June 21st. The program provides funding for Ontario agri-food companies that improve productivity and increase social distancing at their facilities.

Lastly, Regional Relief and Recovery Fund (RRRF), a government loan for the businesses heavily impacted by the pandemic, is set to close on June 30th for good.

We thank all our clients in advance for their interest in those programs but will only be able to take a limited number of applications due to the above deadlines.

Feeling it is too late for your business? Need help with government funding programs and don’t know where to start or how to prepare an application?

Fill out the Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.

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[Webinar Invitation] Sustainability and Grant Funding in the Post Pandemic Age

We would like to invite you to the upcoming webinar Sustainability and Grant Funding in the Post Pandemic Age”.

The post pandemic era presents a unique opportunity for sustainability programs. Needed work and client space reconfiguration programs can be accompanied by changes in key systems like lighting and energy consumption, heating, ventilation, air conditioning to save costs.

This webinar will focus on best practices and policies to implement robust sustainability and resource management programs.

  • Sustainability as a business and cost containment strategy
  • Energy consumption Auditing and benchmarking
  • Energy management planning, management and monitoring systems and technologies
  • Organization wide culture change and training initiatives

Opportunities for sustainability grants including consulting and training and energy saving devices will also be explored.

Date and Time: Thursday, May 27, 2021 12:00 PM EST

Seminar Speakers:

David Katz – President, Sustainable Resources Management Inc.

Igor Chigrin – Business Funding Expert, Fair Grant Writing

Click here to find out more about grants in Canada

Can’t Attend the Webinar?

The recording will be posted on our YouTube channel within a week after the event – https://www.youtube.com/channel/UCj2IGeKBHIpCtnqnPKcI1lw.

Do you qualify for government funding? Check eligibility at https://www.fgwinc.ca/eligibility.

Agri-Tech Innovation Cost-Share Program

Amount: up to a maximum of $100,000

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[Webinar Invitation] Lean Techniques and Grant Funding for Increased Profit Margins

We would like to invite you to the upcoming webinar Lean Techniques and Grant Funding for Increased Profit Margins”.

Lean methodology presents significant opportunities for service and manufacturing organizations alike. This webinar will examine how these techniques can be applied in high and low volume environments.

We will cover:

  • Methodologies to eliminate costly operational redundancies driving more profits to your bottom line.
  • How Lean can mitigate poor-quality service and boosting customer retention and top line revenue.
  • Government grant funding opportunities for Lean training.

Date and Time: Thursday, May 20, 2021 12:00 PM EST

Seminar Speakers:

Henry Foppoli – Managing Partner, Amsaxsum

Igor Chigrin – Business Funding Expert, Fair Grant Writing

Click here to find out more about grants in Canada

Can’t Attend the Webinar?

The recording will be posted on our YouTube channel within a week after the event – https://www.youtube.com/channel/UCj2IGeKBHIpCtnqnPKcI1lw.

Do you qualify for government funding? Check eligibility at https://www.fgwinc.ca/eligibility.

Webinar: New Budget, New Opportunities – Federal and Provincial Grant Funding Opportunities for 2021

We would like to thank all of you for joining us at the New Budget, New Opportunities – Federal and Provincial Grant Funding Opportunities for 2021 webinar. It was an absolute success and we hope you got a chance to join us live.

In case you missed it or would like to watch it again, we have a recording of the webinar available now.

Additionally, we have the presentation deck for your refence available here: New Budget, New Opportunities – Federal and Provincial Grant Funding Opportunities for 2021

The information is valid as of April 29, 2021.

Need help with government funding programs and don’t know where to start or how to prepare an application?

Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.

Webinar: Creating and Funding Robust IT Processes

We would like to thank all of you for joining us at the “Creating and Funding Robust IT Processes webinar brought to you by Building Perspective. It was an absolute success and we hope you got a chance to join us live.

In case you missed it or would like to watch it again, we have a recording of the webinar available now.

Additionally, we have the presentation deck for your refence available here: Creating and Funding Robust IT Processes

The information is valid as of April 22, 2021.

Need help with government funding programs and don’t know where to start or how to prepare an application?

Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to find out.

 

What is in Federal 2021 budget for you?

Yesterday, the Federal Government released its 2021 fiscal year budget. I took the time to go through it and happy to share the following highlights regarding the funding for businesses.

Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy will be extended to September 25, 2021. Only employers with a decline in revenues of more than 10% would be eligible for the wage subsidy as of June 6, 2021.

At the same time, the new Canada Recovery Hiring Program for eligible employers that continue to experience declines in revenues relative to before the pandemic will supplement and later replace the emergency wage subsidy. This support will be available from June 6 to November 20, 2021.

The application deadline for similar support under the Regional Relief and Recovery Fund is extended until June 30, 2021.

Multiple hiring grants are introduced or replenished to help businesses hire youth workforce, including:

  • Student Work Placement Program
  • Youth Employment and Skills Strategy
  • Sectoral Workforce Solutions Program

A new Canada Digital Adoption Program will be introduced to support small manufacturers and food processors in implementing digital technologies. The support will provide grants for technology selection and planning and no-interest loans for technology acquisition and implementation. The loans will be provided by BDC.

Industrial Research Assistance Program (IRAP) gets additional funds. This program is known for long delays, and hopefully, the boost will provide opportunities for more businesses to apply.

The maximum amount of government-guaranteed loans through the Canadian Small Business Financing Program will be increased to $500K.

The aerospace industry will get a boost through the Aerospace Regional Recovery Initiative, which would support small and medium-sized firms in improving productivity, strengthening commercialization, and greening their operations and products. The government will provide the details within the next few months.

Business Scale-Up & ProductivityStrategic Innovation Fund and Supercluster Funding will be continued through this fiscal year.

CanExport program that supports Canadian businesses marketing outside the country will also be continued.

More funding and tax incentives will be provided for clean technology and climate change technologies adoption. However, it appears that Climate Action Incentive Fund for businesses will not be renewed. The farmers will get more climate change-related incentives.

We have not seen any specific funding programs for manufacturers to improve productivity, purchase new equipment or introduce hardware, software or industry 4.0 solutions, so we will keep monitoring the announcements from the Canadian Manufacturers and Exporters.

We are also unclear about the Federal-Provincial programs such as Job Grants for skills training and the Canadian Agricultural Partnership. We will provide you with more updates as more information becomes available.

[Webinar Invitation] New Budget, New Opportunities – Federal and Provincial Grant Funding Opportunities for 2021

Against the unprecedented challenges of the Covid-19 pandemic, Federal and Provincial Governments face the daunting task of rebuilding their economies.
They are using a slew of new and returning grants and low/zero interest loans as part of their arsenals for growth, creating opportunities for business of all sizes to retool or get started.
Principal of Fair Grant Writing, Igor Chigrin examines these programs and provides valuable tips on how to leverage them for your business and your clients.

Date and Time: Thursday, Apr 29, 2021 12:00 PM EST

Seminar Speaker: Igor Chigrin – Business Funding Expert

Click here to find out more about grants in Canada

 

Can’t Attend the Webinar?

Find out what government grants are available for your business now by filling out eligibility check form at https://www.fairgrantwriting.ca/eligibility.

Accelerating Manufacturing Scale-Up Grant Program

Amount: between $50,000 up to a maximum of $250,000 to eligible businesses or up to a maximum of $500,000 to eligible groups in collaboration.

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[Webinar Invitation] Creating and Funding Robust IT Processes

Information Technology has become the central nervous system for modern businesses. Modern business is dependent on the flexibility and integration of their technology. When growth demands new systems, upgrading requires a prudent mix of wisdom and financing.

Many companies find themselves poised for growth but held back by outdated and inflexible IT systems. These systems are typically cumbersome to maintain and don’t give staff the accurate and real-time information they need to make timely decisions for the business. Time that could be spent in pursuing growth is wasted on endless data entry and validation of data. Thus, revitalizing core IT systems can significantly enable growth and improve employee morale.

IT systems typically span the entire organization, and as such, need to be transformed through a cross-functional approach and inter-departmental collaboration. While IT vendors will promote their individual solutions, Building Perspective’s experience and technology-agnostic processes can help ensure the right “technology-to-process” fit for your organization. Your staff will thank you for providing them with IT solutions that make them more productive, all without breaking the bank.

As a strategic investment in a company’s future any IT changes need to be properly financed, not only to achieve the project objectives, but to have sufficient reserves in case of the unexpected. While any major project must be approached with financial prudence, grant financing can allow a greater margin for unexpected risks.

With sufficient project planning and the guidance of Fair Grant Writing, government grant funding can be pursued to pay for components of your project while keeping your capital in reserves or to expand the project. With a holistic approach grant funding can facilitate business growth projects beyond IT.

As experts in IT process development and government grant financing, Vani Pasupathy Managing Partner, Building Perspective and Igor Chigrin, Principal, Fair Grant Writing will present a webinar “Creating and Funding Robust IT Processes” on April 22, 2021 at 12:00 pm EDT.

CLICK HERE TO REGISTER

 

Stay up to date with our calendar of upcoming webinars in April:

FGW webinar: April 29, 12:00pm – “New Budget, New Opportunities – Federal and Provincial Grant Funding Opportunities for 2021”

Can’t Attend the Webinar?

Find out what government grants are available for your business now by filling out eligibility check form at https://www.fairgrantwriting.ca/eligibility.