Farm and Ranch Water Infrastructure Program (FRWIP) — Dugout, Pipeline and Well Rebate
Highlights
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. This funding can be used for a variety of purposes, including operating expenses, restorations, new equipment, and software.
Key Benefits:
- Government-backed loan: This provides added security and trust.
- Flexible repayment options: You can choose how to pay it back, with up to 15 years to do so.
- Easy qualification: The program is designed to be accessible for businesses like yours.
By being approved for this program, you can secure the financial support needed to grow and sustain your business. This is a unique opportunity to access substantial funding with favorable terms, making it a better option than many other financing alternatives.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets
- Working capital
Use of Funds:
- Funds can be used for the above eligible expenses.
- Funds cannot be used for personal expenses, debt repayment, or any non-business-related activities.
Repayment Terms and Interest Rates:
- As this is a grant, there are no repayment terms or interest rates.
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must be a business operating in Saskatchewan.
- Must be involved in Agriculture, Natural Resources, or Industry.
- Must comply with Employment Standards.
- Must be an entrepreneur starting or exiting a business.
- Must engage in Environmental Protection and Sustainability.
- Must be a First Nations, Métis, or Northern Community Business.
- Must hire, train, and manage employees.
- Must be involved in Housing Development, Construction, or Property Management.
- Must focus on Investment and Economic Development.
- Must ensure Safety in the Workplace.
- Must comply with Taxes, Licensing, and Reporting requirements.
Must be involved in Transportation and Road Construction.
Disqualifications:
- Businesses not operating in Saskatchewan.
- Businesses not involved in Agriculture, Natural Resources, or Industry.
- Businesses not complying with Employment Standards.
- Businesses not engaged in Environmental Protection and Sustainability.
- Businesses not hiring, training, and managing employees.
- Businesses not involved in Housing Development, Construction, or Property Management.
- Businesses not focusing on Investment and Economic Development.
- Businesses not ensuring Safety in the Workplace.
- Businesses not complying with Taxes, Licensing, and Reporting requirements.
- Businesses not involved in Transportation and Road Construction.
Description
This program offers your business up to $1,000,000 in funding. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Examples of eligible expenses 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 your business.
Flexible repayment options are available. You can choose between a variable interest rate, a fixed one, or even combine your loan amount and interest into a single payment.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Gather Necessary Documentation: Prepare the following documents:
- Business registration documents
- Financial statements (last two years)
- Business plan
- Proof of business address
- Identification documents for business owners
- Tax returns (last two years)
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit the completed application form along with the required documentation. This can typically be done online or via mail, depending on the program’s submission guidelines.
Attend an Interview (if required): Some programs may require an interview or meeting to discuss your application in more detail. Be prepared to explain how your business will benefit from the program.
Wait for Approval: After submission, wait for the program administrators to review your application. This process may take several weeks.
Receive Funds or Support: Once approved, you will receive the funds or support as outlined in the program’s terms. Make sure to use the resources as specified in your application.
Follow Up and Reporting: Adhere to any follow-up or reporting requirements set by the program. This may include providing updates on how the funds or support are being used and the impact on your business.