Tag Grants for canadianfunding

How will the Federal Election impact government funding?

As you may have heard, Canadians are called to cast their votes in the next Federal election on September 20, 2021. Here are a few items you need to know about the Federal government funding for businesses before and after the election regardless of your political preference.

  1. Decision-Making Freeze. Although all Federal government funding programs will continue to accept applications, the decisions will only be made after the new Federal government is formed. Therefore, we encourage our clients to submit applications but be patient.
  2. CanExport Renewal Delay. We expected the popular CanExport grant to be replenished in September 2021, but because it is a Federal program, it will likely open the next intake in October. To remind, CanExport provides Canadian businesses with funding to help them market in the new export markets, both digitally and traditionally.
  3. No Impact on the Provincial Funding. Federal elections have absolutely no impact on the provincial government funding programs for businesses.

If you have any questions about the impact of the Federal election on your business don’t hesitate to get in touch with us – apply@fairgrantwriting.ca.

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

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.

Aerospace Regional Recovery Initiative

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

Get Started

Jobs and Growth Fund

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

Get Started