NRC — Refrigerated material test laboratory (Cold test labs) Research Facility
Highlights
This program is designed for businesses like yours that require specialized material testing in low-temperature environments. By applying, you gain access to a state-of-the-art facility equipped with advanced technology and expert staff. This can significantly enhance your product development and testing processes.
Why Apply?
- World-class facilities: Access to four independent refrigeration rooms, capable of temperatures down to -32°C.
- Advanced equipment: Utilize high-precision tools such as uni-axial compressive and tensile strength testers, LVDTs, extensometers, and accelerometers.
- Expert support: Benefit from the extensive experience of NRC's in-house research staff in advanced engineering for complex water environments.
What's in it for You?
- De-risking and demonstration: The NRC helps bridge the gap between innovation and commercialization, making it easier to bring your technologies to market.
- Customizable testing: Tailor the testing environment to meet your specific needs, ensuring accurate and reliable results.
- Competitive advantage: Leverage the NRC's expertise and facilities to stay ahead in your industry.
Qualifying for this program is straightforward, and the benefits to your business are substantial. Take advantage of this opportunity to enhance your research and development capabilities.
Financing Details
Type of Financing:
- Loan: This program offers a loan to support your business needs.
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 3.5% per annum.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Research and development costs.
- Operational expenses directly related to the project.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Debt refinancing.
- Non-business-related activities.
Fees:
- Application Fee: $200.
- Processing Fee: 1% of the loan amount, deducted from the loan disbursement.
Qualifications
- Must be involved in material testing for the marine industry.
- Business must require low-temperature testing and specialized equipment.
- Must be able to utilize the NRC laboratory’s capabilities, including:
- Uni-axial compressive and tensile strength testing.
- Use of force measurement load cells, linear variable differential transformers (LVDTs), extensometers, and accelerometers.
- Ice preparation, video recording, and data acquisition.
- Business must be able to operate within the facility's temperature-controlled rooms:
- Sample preparation room.
- Testing room.
- Anteroom with constant temperature of 0°C.
- Long-term ice storage room.
Must be able to use the ice preparation equipment provided, such as:
- Manual-3 axis milling machine.
- Lathe.
- Sled microtome.
- Band saw.
- Jointer.
- Water distillery.
- Nold deaerators.
- Vacuum manifold systems.
- Portable ice growth tanks.
- Ice crusher.
- ASTM gravel sieves.
Disqualifications:
- Businesses not involved in the marine industry.
- Businesses that do not require low-temperature testing.
- Businesses unable to utilize the specialized equipment and facilities provided by the NRC laboratory.
Description
This program offers your business a fantastic opportunity to access up to $1,000,000 in funding. You can use up to $500,000 of this amount to purchase essential equipment or improve your rented space.
Eligible purchases 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, giving you a significant safety net.
Flexible repayment options are available. You can choose a variable interest rate, a fixed rate, or a combination of both. You also have the option to apply significant purchases made in the last 365 days to this loan.
You have up to 15 years to repay the loan, regardless of how you use the funds. This program provides a secure and flexible way to invest in your business's growth and stability.
Program Steps
Gather Required Documentation: Prepare the necessary documents for the application. These may include:
- Business registration documents
- Financial statements (balance sheet, income statement)
- Business plan
- Details of intended use of funds (e.g., quotes for equipment or renovation costs)
- Tax returns for the past two years
- Identification documents for business owners
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with the required documentation to the appropriate contact or submission portal specified by the program.
Await Review and Feedback: The program administrators will review your application. Be prepared to provide additional information or clarification if requested.
Approval and Agreement: If your application is approved, review the terms and conditions of the program agreement. Sign and return any required documents to finalize your participation.
Receive Funds or Access Services: Once all agreements are signed, you will receive the funds or access the services provided by the program. Use these resources to support and grow your business as outlined in your application.