Visit the Centre for Small Business Financing for everything you want to know about grants and loans to expand your business. Take a look at the different types of programs and the federal and provincial programs available to it. Do you need funding in the form of grants and subsidies? Loans, tax breaks? Depending on the size and the kind of business you are in will determine whether you qualify for a grant or loan funding up to $10 million.
Types of funding programs
· Low-interest or no-interest loans, Government Guaranteed Loans.
· Grants and subsidies; one-time and renewable, Conditionally Repayable Contribution, Equity financing.
· Tax Refunds or Tax Credits.
· Access to Resources: Government Insurance against business risks, government relocation incentives and government information and services.
Go online for a list of funding programs offered by the federal and provincial governments. The list is a long one and includes recipients such as Aboriginal Business Canada, BizPal, Business Services Canada, Business Immigration Program, Business Solutions Consulting Group and many more names. The Centre wants you to know that they are not connected with funding programs and no claim can be made that funding is due to the Centre unless so stated. For advice and personal experiences go online to read success stories and advice from recipients who have benefited.
Grants and loans facts
While a grant can be a good option and source of funding, you have a better chance of accessing programs which provide small Canadian businesses through loans – meaning that if you do not get lucky with the banks, you should not throw in the towel. It is said that government loans are better than bank loans. They may offer highly competitive rates or be non-repayable. Government loans are also more likely to be unsecured which means you do not have to put up collateral. To see how much you might be eligible to receive take a minute and fill out an online form for the results. Where is your business located? What business was generated in the last two years? Complete the short form giving your personal and business information, type of industry and financing needs and you have an idea of how much money you might qualify for. Do not give up. Go online and apprise yourself of the facts.