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/