This program is a fantastic opportunity for your business. It offers up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day operating costs. These funds can be used for a variety of needs, including operating expenses, restorations, new equipment, and software. This flexibility allows you to address the specific needs of your business.

The key advantage of this financing is that it is backed by the government, providing you with a more secure and reliable option compared to other loans. You also have the freedom to choose how you repay the loan, with terms extending up to 15 years. This makes it easier to manage your cash flow and plan for the future. Qualifying for this program is straightforward, making it accessible and beneficial for your business.

Type of Financing:

• Loan: This program offers a loan to eligible businesses.

Repayment Terms and Interest Rates:

• Repayment Term: Up to 10 years to repay the loan.
• Interest Rates: Fixed interest rate of 3.5% per annum.

Eligible Expenses:

• Equipment Purchases: Funds can be used to buy new or used equipment.
• Leasehold Improvements: Expenses for improving leased property are covered.
• Working Capital: Includes day-to-day operational costs.
• Research and Development: Costs associated with R&D activities.

Ineligible Expenses:

• Real Estate Purchases: Funds cannot be used to buy real estate.
• Debt Refinancing: Existing debts cannot be refinanced with this loan.
• Personal Expenses: Funds cannot be used for personal use or non-business-related expenses.

Fees:

• Application Fee: $150 non-refundable fee.
• Documentation Fee: $200 for preparing loan documents.
• Annual Maintenance Fee: 1% of the outstanding loan balance, charged annually.

This program offers your business a chance to receive up to $1,000,000. You can use up to $500,000 of this amount to buy equipment or improve your rented space.

Eligible expenses include:

• Commercial kitchen appliances
• Manufacturing machinery
• Computers and IT infrastructure
• Renovating a retail space

For other costs like software or operational expenses, the program can provide up to $150,000.

The federal government guarantees 85% of the loan, giving you a strong safety net.

This loan program is highly flexible. If you've made significant purchases in the last year that fit the program's guidelines, you can include them in this loan.

You have several options for repayment. You can choose a variable interest rate, a fixed one, or even combine your loan amount and interest into blended payments.

You have up to 15 years to repay the loan, regardless of how you use the funds.