ACOA Jobs and Growth Fund — Non Profit
Highlights
This program is designed for businesses like yours to help create jobs and support long-term growth. You can receive up to 50% of eligible costs through interest-free repayable contributions, making it easier to invest in your business without the burden of high-interest rates. This funding can be used for various activities, including transitioning to a green economy, adopting digital solutions, and expanding your market reach.
What You Get:
- Interest-free repayable contributions for up to 50% of eligible costs
- Non-repayable contributions for up to 90% of eligible costs for non-profit organizations
Benefits:
- Support for clean technology development and adoption
- Funding for businesses owned by under-represented groups
- Investment in digital and technological solutions to boost productivity
- Opportunities to scale up and expand into new markets
Applying is straightforward, and the program is designed to be accessible. By participating, you can future-proof your business, enhance competitiveness, and contribute to a more inclusive and resilient economy.
Financing Details
Type of Financing: Interest-Free Repayable Contributions
Repayment Terms:
- Interest-free
- Repayable contributions for up to 50% of eligible costs for businesses
- Non-repayable contributions for up to 90% of eligible costs for non-profit organizations
Eligible Expenses:
- Development and adoption of clean technology
- Planning and driving clean, sustainable economic growth
- Development of green regional clusters
- Transitioning businesses to a green economy
- Supporting businesses owned or majority-led by under-represented groups
- Digital and technological solutions to increase business productivity
- Investments in technologies for scaling businesses and enhancing capabilities
- Market expansion and supply chain adaptation in critical sectors
Ineligible Expenses:
- Personal expenses
- Non-business-related costs
- Any expenses not directly tied to the eligible activities outlined above
Fees:
- No application fees
- No hidden charges
This program offers a significant opportunity to support your business in transitioning to a green economy, enhancing competitiveness, and fostering inclusive recovery.
Qualifications
- Must be a business, including co-operatives, or a non-profit organization.
- Indigenous-led organizations and/or businesses are strongly encouraged to apply.
- Must be located in Atlantic Canada.
- Must be involved in activities that support the transition to a green economy.
- Must be involved in activities that foster an inclusive recovery.
- Must be involved in activities that preserve Canada’s competitiveness and future-proof SMEs through digital adoption.
Must be involved in activities that strengthen capacity in sectors critical to Canada’s recovery and growth.
Disqualifications:
- None specified.
Description
The Jobs and Growth Fund offers up to $70 million to businesses in Atlantic Canada. This funding helps you create jobs and prepare for long-term growth. You can use the money to transition to a green economy, boost competitiveness, and support an inclusive recovery.
Eligible businesses can receive interest-free repayable contributions for up to 50% of eligible costs. This means you can get half of your project costs covered without paying interest. For non-profit organizations, the contributions are non-repayable and cover up to 90% of eligible costs.
The fund supports various activities, such as adopting clean technology, enhancing digital capabilities, and expanding market reach. This is a great opportunity to future-proof your business, increase resilience, and drive sustainable economic growth.
Program Steps
Consult the Applicant Guide: Before starting your application, read the applicant guide thoroughly. This will help you understand the program's requirements and ensure you have all the necessary information.
Prepare Documentation: Gather the required documents to support your application. These may include:
- Business plan
- Financial statements
- Proof of business registration
- Details of the project you are seeking funding for
- Quotes or estimates for project costs
Fill Out the Application Form: Complete the Jobs and Growth Fund application form online. Make sure all information is accurate and complete to avoid delays in processing.
Submit the Application: Send your completed application form through the application for financial assistance page or by mail to the ACOA regional office in your province.
Follow Up: After submitting your application, you may need to provide additional information or clarification. Be prepared to respond promptly to any requests from the reviewing agency.
Review and Approval: The agency will review your application to ensure it meets all criteria. If approved, you will be notified of the terms and conditions of the funding.
Receive Funding: Once approved, you will receive the funding according to the agreed terms. Use the funds as outlined in your application to support your business's growth and development.
