Up to $10 million to Support Business Development
Funding For Profiting in a Green Economy
Canada’s Jobs and Growth Fund is offering businesses interest-free, non-collateral loans to a maximum of $10 million to fund up to 50% of the following activities:
- Transitioning to a green economy, including the development, adoption and production of clean technologies and products.
- Businesses owned or led by underrepresented groups, e.g., indigenous peoples, members of racialized communities, women, youth, LGBTQ2, persons with disabilities, newcomers to Canada, and members of official language minority communities
- Preserving competitiveness and viability of Canadian small businesses through
- the development or adoption of digital and technological solutions (i.e., Industry 4.0 solutions) towards increasing productivity.
- investment in technologies for scaling up, enhancing capabilities and increasing resilience
- Strengthening capacity in sectors critical to Canada’s recovery and growth (e.g., processors, medical supplies and biomanufacturing) by investing in:
- scale-up and market expansion initiatives to strengthen and/or develop competitive advantage in traditional or emerging global opportunities
- supply chain adaptation and diversification opportunities.
Activity-specific cost may occur over 3 years with repayment of funds beginning one year after completion. And to be paid in full up to 4 years thereafter. Eligible expenses include:
- Technology/Equipment purchases and installations (including software)
- Expertise, e.g. fees paid to professional, technical personnel, consultants, engineers or contractors.
- Facility construction and renovations as well as site and leasehold improvements.
- Labour when not economically feasible to contract such work.
- Other direct project costs
Applicants can request support for activity-related expenses incurred beginning April 19, 2021; however, there is no guarantee of funding.
Not-for-profit organizations and community economic development partners can receive up to 90% and indigenous businesses/organizations up to 100% in non-repayable funding for the above-mentioned eligible activities.
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