Financing Programs

Whether you are starting, expanding or relocating your business, chances are you’ll find a federal or provincial financing option to suit your needs.

Business Development Program  can finance up to 50% or 75% in the form of an unsecured, interest-free loan towards the eligible costs of a new establishment, expansion, modernization, or a project which improves your competitiveness. 

Eligibility Criteria:

• Most business sectors are eligible except retail/wholesale, real estate, government services, and services of a personal or social nature.
• Both commercial and not-for-profit applicants are eligible. 
• Eligible activities include business studies, capital investment, training, marketing, quality assurance, and not-for-profit activities that support business in the region.
• Assistance is also available to help you bid for and acquire public and private procurement contracts or to develop an innovative product or service.

Overall, your project should meet the following criteria:

• Provide economic benefit to an area or a community 
• Demonstrate need for financial assistance 
• Be economically viable

Contact the local office of Atlantic Canada Opportunities Agency for more information.

Business Loan Program provides financing up to a maximum of $150,000 to new or existing businesses in the form of loans, loan guarantees and equity financing. Loans are fully repayable and are negotiated at competitive interest rates.

Eligibility Criteria:

• Priority given to person(s) who have difficulties accessing financing from traditional lending institutions

Contact the local office of Humber Community Development Corporation for more information.

Canada Small Business Financing Program provides loans up to a maximum $500,000 and up to 90% can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment.

Eligibility Criteria:

• Small businesses operating for profit in Canada with gross revenues not exceeding $5 million annually. Farming businesses are not eligible for this program.

Contact your local bank or credit union to apply or obtain more information.  Click here for a list of lending partners.

Business and Market Development Program provides a non-repayable grant up to $25,000 for new market or research development, technical feasibility research and external research. Funds must be matched on an equal basis by applicant.

Eligibility Criteria:

• Small businesses with less than 50 employees and less than $5 million in annual sales
• Businesses must be located and operating in the province of Newfoundland and Labrador

Contact the local office of Department of Innovation Trade & Rural Development for more information.

Small and Medium-sized Enterprise Fund provides assistance in two forms; a term loan up to $500,000 with applicant contributing 20% of total project costs. Interest is set at the department’s base rate plus 3% and equity investment up to $500,000 with applicant contributing 20% of project costs.

Eligibility Criteria:

• Applications can be received from proprietorships, corporations, co-operatives, or non-profit organizations operating in the province.
• Real estate services, retail, service & wholesale operations, beverage rooms and taverns are not eligible for funding

Eligible Activities:

• Purchasing fixed assets such as: land, building, equipment
• Constructing, expanding or renovating building(s) including leasehold improvements
• Working capital for growth
• Purchasing intangible assets such as patents and technology rights

Contact the local office of Department of Innovation Trade & Rural Development for more information.