This program is designed for businesses like yours that are ready to grow, scale, or innovate. By connecting with an Innovation Advisor, you can access a wealth of knowledge and resources tailored to your needs. These advisors are former entrepreneurs and private-sector professionals who understand the challenges you face and can guide you through various government programs and services.

Why Apply?

• Expert Guidance: Get personalized advice from seasoned professionals who have successfully navigated the business landscape.
• Extensive Network: Leverage their connections to access financing, technical advice, and foreign market expertise.
• Tailored Support: Whether you need help with product development, scaling operations, or entering new markets, the advisors can provide the right solutions.

What's in It for You?

• Comprehensive Support: From financing to technical advice, you will have access to a range of government programs designed to help your business thrive.
• Better Financing Options: Benefit from government-backed financing that offers more flexibility and better terms than traditional loans.
• Ease of Qualification: The program is designed to be accessible, making it easier for your business to qualify and benefit from the available resources.

Connecting with an Innovation Advisor can significantly impact your business's growth and success. Take advantage of this opportunity to gain the support and resources you need to achieve your business goals.

Type of Financing: Loan

Repayment Terms and Interest Rates:

• Repayment options include floating rate with principal plus interest payments, floating rate with blended payments, fixed rate with principal plus interest payments, and fixed rate with blended payments.
• The amortization period allows up to 15 years for loan repayment.

Eligible Expenses:

• Eligible expenses include purchases made within the past 365 days before the loan approval date for financing.
• Funds can be used for equipment, leasehold improvements, intangible assets, and working capital.

Ineligible Expenses:

• Funds cannot be used towards expenses not incurred within the specified timeframe or for purposes other than equipment, leasehold improvements, intangible assets, and working capital.

Fees:

• Document preparation fee of $175.
• Application fee of $100.
• No renewal fee for standalone loans.
• One-time Federal Government registration fee of 2% of the loan amount.
• Includes a 1.25% Administration Fee, included in the interest rate.

If you are developing a new product, technology, or process, this program can be a game-changer for your business. You can receive free, one-on-one assistance from an Innovation Advisor who will help you navigate and find the right government supports.

Innovation Advisors are experienced professionals who have been entrepreneurs or worked in the private sector. They understand the challenges of growing a business and can provide valuable insights. They can connect you with various government programs and services, including financing, technical advice, and foreign market expertise.

The benefits to your business are substantial. With the right guidance, you can access funding, improve your operations, and expand into new markets. This support can help you innovate, create jobs, and grow your business effectively.

1. Contact an Innovation Advisor:

• Call toll-free at 1-833-201-4358 or TTY: 1-866-694-8389.
• Alternatively, send your details through the provided contact form here.

2. Schedule an Initial Consultation:

• Arrange a meeting with an Innovation Advisor to discuss your business needs and goals.
• This consultation will help identify the specific programs and services that are most beneficial for your business.

3. Prepare Necessary Documentation:

• Gather the following documents:
  • Business Plan
  • Financial Statements (last two years)
  • Proof of Incorporation
  • Market Analysis or Research
  • Project Proposal or Description (if applicable)
  • Any relevant technical or product specifications

4. Submit Application:

• Complete the application form provided by your Innovation Advisor.
• Ensure all required documentation is attached.
• Submit the application through the designated channel as advised.

5. Follow Up:

• Stay in touch with your Innovation Advisor for updates on your application status.
• Be prepared to provide any additional information or clarification if requested.

6. Review and Approval:

• Once your application is reviewed, you will be informed of the decision.
• If approved, discuss the next steps and any further requirements.

7. Implementation:

• Work with your Innovation Advisor to implement the approved programs and services.
• Utilize the resources and support provided to achieve your business growth objectives.