Business Link — One-on-one advice
Highlights
This program is designed specifically for Alberta-based entrepreneurs like you. It offers free personalized one-on-one support to help you navigate the challenges of starting or managing your small business. Whether you need advice on business growth strategies, building an e-commerce store, or accessing community resources, this program has you covered.
What You Get
- Free consultations: In-person or virtual, tailored to your business needs.
- Expert guidance: From small business experts who understand your challenges.
- Access to resources: Tools and information to help you make informed business decisions.
Why Apply?
- Build and update your business plan: Ensure your business is on the right track.
- Receive mentorship: Connect with experienced mentors to grow your network.
- Boost your digital footprint: Learn how to enhance your online presence.
Qualifying for this program is straightforward, and the benefits are immense. By participating, you gain valuable insights and support that can significantly impact your business's success.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Digital adoption expenses, including software and hardware.
- E-commerce setup and optimization.
- Digital marketing and online advertising.
- Training for employees on new digital tools.
Use of Funds:
- Funds cannot be used for non-digital related expenses.
- Cannot be used for debt repayment or operational expenses unrelated to digital adoption.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a small business.
- Must be based in Alberta.
Must be an entrepreneur or small business owner.
Disqualifications:
- None specified.
Description
This program offers up to $1,000,000 to support your business. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible purchases include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or operational expenses, you can receive up to $150,000.
The federal government guarantees 85% of the loan, providing a significant safety net for you.
Flexible repayment options are available. If you've made significant purchases in the last year that fit the program guidelines, you can include them in this loan.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (last two years)
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
- Tax Returns (last two years)
- Any relevant permits or licenses
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Prepare a Detailed Project Proposal: Outline how you plan to use the program's resources to benefit your business. Include timelines, expected outcomes, and budget estimates.
Submit the Application: Send your completed application form and all required documentation to the designated program office or online portal.
Attend an Interview or Consultation: If required, participate in an interview or consultation to discuss your application and project proposal in detail.
Wait for Approval: The program administrators will review your application and documentation. This process may take several weeks.
Receive Notification: You will be notified of the decision via email or mail. If approved, you will receive further instructions on how to proceed.
Sign Agreement: If your application is approved, sign the formal agreement outlining the terms and conditions of the program.
Implement Your Project: Begin executing your project as per the approved proposal. Ensure to follow any guidelines provided by the program.
Submit Progress Reports: Regularly update the program administrators with progress reports as required. Include any financial expenditures and milestones achieved.
Complete Final Report: Upon project completion, submit a final report detailing the outcomes and benefits to your business. Include any financial documentation as proof of how the funds were used.