Business Navigators - NB
Highlights
This program is designed for business owners like you who want to navigate regulatory challenges and grow their businesses. Why should you apply? Because it offers personalized, one-on-one support to help you understand and meet various regulatory requirements, such as business registration, permits, and licenses.
What’s in it for you? You will receive assistance from experienced Business Navigators who will use their network of government employees and ecosystem partners to find the answers you need. This program is better than others because it provides a case management approach, ensuring regular check-ins and continuous support.
How will being approved help you? It will make the regulatory process smoother and less stressful, allowing you to focus on growing your business. Is it easy to qualify? Yes, the program is designed to be accessible and responsive, making it straightforward for you to get the help you need.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Training and development for staff.
- Marketing and promotional activities.
- Research and development.
Use of Funds:
- Funds cannot be used for personal expenses.
- Cannot be used to cover existing debts.
- Not applicable for real estate purchases.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
- Business must be operating in New Brunswick.
Must be currently exporting or planning to start exporting.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Softwood lumber industry.
- Professional services such as marketing firms, creative agencies.
Description
This program offers your business up to $1,000,000. You can use up to $500,000 of this amount to buy equipment or improve your workspace.
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 strong safety net for your business.
Flexible repayment options are available. You can choose between a variable interest rate, a fixed one, or a combination of both.
You have up to 15 years to repay the loan, regardless of how you use the funds.
Program Steps
Gather Required Documentation:
- Business registration documents
- Financial statements (last two years)
- Business plan
- Export plan
- Proof of export sales (if applicable)
- Identification documents for business owners
Complete the Application Form:
- Access the application form on the official website.
- Fill in all required fields accurately.
Prepare Supporting Documents:
- Ensure all gathered documents are up-to-date and correctly formatted.
- Attach these documents to your application form.
Submit the Application:
- Review your application for completeness.
- Submit the application form and supporting documents through the designated submission portal.
Await Confirmation:
- Monitor your email for a confirmation receipt.
- Follow any additional instructions provided in the confirmation.
Respond to Follow-Up Requests:
- Be prepared to provide any additional information or documentation if requested by the program administrators.
Receive Approval and Next Steps:
- Upon approval, review the terms and conditions.
- Follow the instructions provided for the next steps in the program.