Invest Nova Scotia — Investment
Highlights
This program is designed for businesses like yours, offering a unique opportunity to secure funding and expert guidance. Why should you apply? The program provides investment capital specifically for emerging technology companies with high growth potential. This means you can access the funds you need to scale your business and stay competitive.
What’s in it for you? You’ll receive not just financial support but also business guidance tailored to your needs. The program includes a network of advisors, mentors, and service providers to help you overcome immediate challenges and plan for sustained growth. Co-investment opportunities with institutional, private sector, and angel investors further enhance your prospects.
How will this help you? Approval means you’ll have the resources to address your business’s immediate needs and the strategic support to ensure long-term success. The qualification process is straightforward, making it easier for you to access these benefits and take your business to the next level.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 5% per annum.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Working capital.
- Intangible assets such as patents and software.
Ineligible Expenses:
- Real estate purchases.
- Personal expenses.
- Debt refinancing.
Fees:
- Application Fee: $150.
- Processing Fee: 1% of the loan amount, deducted from the loan disbursement.
- Annual Maintenance Fee: $100 per year.
Qualifications
- Must be a business located in Nova Scotia.
- Must be an emerging venture-grade technology company.
- Must have high growth potential.
- Must have attractive risk-return prospects.
Must be willing to co-invest with institutional, private sector, and angel investors.
Disqualifications:
- Businesses not located in Nova Scotia.
- Businesses that are not technology-focused.
- Businesses without high growth potential.
- Businesses without attractive risk-return prospects.
Description
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, you can get up to $150,000.
The federal government guarantees 85% of the loan, providing you with a significant safety net.
Flexible repayment options are available. You can choose between a variable interest rate, a fixed rate, or a combination of both.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (last two years)
- Tax Returns (last two years)
- Proof of Business Registration
- Identification Documents (e.g., passport, driver’s license)
- Bank Statements (last six months)
- Any other relevant documents specific to your business
Complete the Application Form:
- Fill out the application form provided by the program.
- Ensure all sections are completed accurately.
Prepare a Detailed Proposal:
- Outline how the program will benefit your business.
- Include specific goals and expected outcomes.
- Provide a budget and timeline for the proposed activities.
Submit the Application:
- Submit the completed application form and all required documentation.
- Ensure submission is done before the deadline.
Follow Up:
- Contact the program office to confirm receipt of your application.
- Be available for any additional information or clarification requests.
Review and Approval:
- Wait for the program office to review your application.
- Respond promptly to any follow-up questions or requests for additional documents.
Receive Funding and Implement:
- Upon approval, review the terms and conditions.
- Sign any necessary agreements.
- Begin implementing your proposal as outlined in your application.