CanNor Jobs and Growth Fund — Indigenous stream
Highlights
The Jobs and Growth Fund is a fantastic opportunity for your business. This program offers interest-free repayable contributions for up to 50% of eligible costs. This means you can access significant funding without the burden of interest, making it easier to invest in your business's future. Whether you are looking to transition to a green economy, adopt new digital technologies, or expand your market, this fund can provide the financial support you need.
What You Get:
- Interest-free financing for up to 50% of eligible costs
- Support for activities that promote sustainable growth and digital adoption
- Opportunities to enhance competitiveness and build resilience
Benefits:
- No interest on the repayable contributions, reducing financial strain
- Flexible funding options tailored to your business needs
- Continuous intake of applications, giving you ample time to apply
By being approved for this program, you can future-proof your business, enhance your capabilities, and contribute to a more inclusive and sustainable economy. The application process is straightforward, and the benefits are substantial. Don't miss out on this chance to secure your business's growth and success.
Financing Details
Type of Financing:
- Interest-free repayable contributions for eligible businesses.
- Non-repayable contributions for eligible not-for-profit organizations.
Repayment Terms:
- For businesses: Interest-free repayable contributions for up to 50% of eligible costs.
- For not-for-profit organizations: Non-repayable contributions for up to 90% of eligible costs.
Eligible Expenses:
- Transition to a green economy (e.g., clean technology development, sustainable economic growth).
- Inclusive recovery activities (e.g., support for businesses owned by underrepresented groups).
- Digital adoption (e.g., development or adoption of digital solutions to enhance productivity).
- Strengthening capacity in critical sectors (e.g., market expansion, supply chain adaptation).
Ineligible Expenses:
- The funds cannot be used for expenses outside the scope of the eligible activities mentioned above.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a business, including co-operatives, or a not-for-profit organization.
- Must be located in Canada.
- Businesses created after January 2020 are eligible for up to $70 million in funding.
- Indigenous-led organizations and/or businesses are strongly encouraged to apply and may receive up to 100 percent of eligible project costs.
Must be involved in activities that:
- Support the transition to a green economy.
- Foster an inclusive recovery.
- Preserve Canada's competitiveness and future-proof SMEs through digital adoption.
- Strengthen capacity in sectors critical to Canada's recovery and growth.
Disqualifications:
- Not explicitly mentioned in the provided context.
Description
The Jobs and Growth Fund offers a great opportunity for your business to grow and create jobs. You can receive funding to cover up to 50% of eligible costs. This money can help you transition to a green economy, adopt digital solutions, and strengthen your business's competitiveness.
If your business is Indigenous-led, you could get funding to cover up to 100% of eligible project costs. This is a significant support to help you build resilience and prepare for future growth.
The funding is interest-free and repayable. This means you get the financial boost you need without the burden of interest. This program is designed to help you invest in clean technology, support underrepresented groups, and enhance your business capabilities. Take advantage of this opportunity to secure your business's future.
Program Steps
Gather Required Documentation:
- Business plan
- Financial statements (e.g., profit and loss statements, balance sheets)
- Proof of business registration
- Description of the project and how it aligns with the program’s goals
- Quotes or estimates for project costs
- Any additional documents specific to your business type or project
Complete the Application Form:
- Access the application form from the regional development agency (RDA) website.
- Fill out all required fields accurately, including business details and project description.
Prepare a Detailed Project Proposal:
- Outline the objectives of your project.
- Explain how the project will create jobs and contribute to long-term economic growth.
- Highlight how the project supports the transition to a green economy, fosters an inclusive recovery, or enhances competitiveness.
Submit the Application:
- Attach the completed application form and all required documentation.
- Submit the application through the RDA’s online portal or via email to [email protected].
Follow Up:
- After submission, monitor your email for any communication from the RDA.
- Be prepared to provide additional information or clarification if requested.
Review and Approval:
- The RDA will review your application to ensure it meets all criteria.
- If approved, you will receive a notification outlining the terms and conditions of the funding.
Agreement and Disbursement:
- Review and sign the funding agreement.
- Once the agreement is finalized, the funds will be disbursed according to the terms specified.
Project Implementation and Reporting:
- Implement your project as outlined in your proposal.
- Keep detailed records and receipts of all expenses.
- Submit regular progress reports to the RDA as required.