GreenCentre Canada
Highlights
This program is designed for businesses like yours, offering a unique opportunity to accelerate your product development and market entry. By participating, you gain access to state-of-the-art lab facilities and expert R&D support at a reduced cost, which can significantly lower your overhead expenses.
Key Benefits:
- Access to advanced equipment without the need for heavy investment.
- Expert guidance to navigate complex innovation challenges.
- Robust technology validation to strengthen your market strategy.
This program provides funded support, making it more affordable than traditional financing options. Approval can help you bring your innovations to market faster, ensuring your business is well-positioned for investment and success. The qualification process is straightforward, making it easier for you to take advantage of these valuable resources.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development costs
- Equipment purchases
- Prototyping and testing
- Market analysis and commercialization activities
- Salaries for project-specific staff
Use of Funds:
- Funds can be used to cover costs directly associated with the development and commercialization of new products and services.
- Cannot be used for general operational expenses, debt repayment, or unrelated business activities.
Repayment Terms:
- No repayment required, as this is a grant.
Fees:
- No fees associated with applying for or receiving the grant.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must be based in Ontario.
Must be developing technologies related to the Circular Economy.
Disqualifications:
- Businesses not based in Ontario.
- Businesses not developing technologies related to the Circular Economy.
Description
This program offers your business a chance to receive up to $1,000,000. You can use this money to buy equipment or improve your workspace.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For operational costs like software or working capital, you can get up to $150,000.
The government guarantees 85% of the loan, giving you a safety net.
Flexible repayment options are available. You can choose between a variable interest rate, a fixed one, or a combination.
You have up to 15 years to repay the loan, regardless of how you use the funds.
This program is a great opportunity to grow your business without the heavy financial burden.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (last two years)
- Proof of Business Registration
- Detailed Project Proposal
- Quotes for Equipment or Services
Complete the Application Form:
- Access the application form from the program’s official website.
- Fill in all required fields accurately.
Submit the Application:
- Upload the completed application form and required documentation.
- Submit through the program’s online portal or via email, as specified.
Await Confirmation:
- Check your email for a confirmation receipt.
- Ensure all contact details are correct for future correspondence.
Participate in Follow-Up:
- Be available for any follow-up questions or additional information requests.
- Provide any supplementary documents if needed.
Review Approval Terms:
- Once approved, review the terms and conditions of the program.
- Understand any obligations or commitments required.
Sign Agreement:
- Sign the agreement to participate in the program.
- Return the signed document as instructed.
Begin Project Implementation:
- Start the project as outlined in your proposal.
- Maintain records and documentation of progress.
Submit Progress Reports:
- Provide regular updates on the project’s status.
- Submit any required progress reports as per the program guidelines.
Complete Final Reporting:
- Upon project completion, submit a final report.
- Include outcomes, financials, and any other required details.