Opportunities New Brunswick — Mentorship
Highlights
This program is designed for businesses like yours that are looking to grow, expand, or relocate. Why should you apply? Because it offers a unique combination of resources, incentives, and support tailored to your needs. You will be partnered with a dedicated executive who will help you navigate your options and fast-track your business goals.
What You Get
- Concierge-style service: Personalized assistance to help you make the most of New Brunswick’s resources.
- Access to incentives: Financial and strategic support to boost your business.
- Export assistance: Help in reaching new markets worldwide.
- Expert guidance: Support in navigating regulations and growing your business.
Benefits
- Flexible financing options: Better terms than traditional loans, backed by the government.
- Comprehensive support: From launching to expanding, you get expert advice and resources.
- Ease of qualification: The program is designed to be accessible and beneficial for businesses like yours.
Being approved for this program means you can confidently grow your business with the support and resources you need. It’s a straightforward process designed to help you succeed.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development costs
- Marketing and promotional activities
- Equipment and technology upgrades
- Training and development for staff
- Expansion into new markets
Use of Funds:
- Funds can be used to cover costs directly related to the eligible expenses listed above.
- Funds cannot be used for general operational expenses, debt repayment, or any activities not directly tied to business growth and expansion.
Fees:
- There are no application or processing fees associated with this grant program.
Qualifications
- Must be a business located in New Brunswick.
Must be involved in one of the following sectors:
- Advanced Manufacturing
- Agritech
- Cybersecurity
- Digital Health
- Energy Innovation
- ICT
Disqualifications:
- None mentioned in the provided context.
Description
This program offers your business a chance to receive up to $1,000,000 in funding. You can use this money to buy new equipment, improve your workspace, or even expand your operations.
Here’s what you can do with the funds:
- Purchase manufacturing machinery
- Upgrade your IT infrastructure
- Renovate your office or retail space
You can also use up to $150,000 for operational costs like software or other essential expenses to keep your business running smoothly.
The government guarantees 85% of the loan, providing a strong safety net for your investment.
Flexible repayment options are available. You can choose a variable interest rate, a fixed one, or a combination of both. You have up to 15 years to repay the loan, giving you ample time to manage your finances effectively.
This program is designed to help your business grow and succeed.
Program Steps
Gather Required Documentation: Prepare the necessary documents for the application. You will need:
- Business registration details
- Financial statements (last two years)
- Business plan
- Export strategy
- Proof of previous export activities (if applicable)
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 through the designated submission portal or email address.
Follow Up: After submission, follow up with the program's contact person to confirm receipt of your application and to address any additional requirements or questions.
Await Review: Wait for the program administrators to review your application. They may contact you for further information or clarification.
Receive Notification: Once your application is reviewed, you will receive a notification regarding the status of your application. If approved, you will receive further instructions on the next steps.
Implement Program Benefits: Upon approval, begin utilizing the program benefits as outlined in your application to support your business's export activities.