This program is a fantastic opportunity for your business to grow and thrive. By applying, you can access up to $10 million in funding, which can be used for essential costs like equipment, wages, and marketing. The funding is interest-free and repayable over five years, with no penalties for early repayment. This makes it a more flexible and affordable option compared to traditional loans.

Key Benefits:

• Interest-free repayable funding for up to 50% of eligible costs.
• Non-repayable funding for up to 90% of eligible costs for not-for-profit organizations.
• No security or collateral required for the funding.

Being approved for this program will help you future-proof your business, build resiliency, and transition to a green economy. It’s designed to foster an inclusive recovery and enhance your competitiveness. The application process is straightforward, and support is available to ensure a good fit with the program.

Type of Financing:

• Non-repayable contribution for up to 90% of the project's cost available for businesses working on projects to transition to a green economy, foster an inclusive recovery, become more competitive, and create jobs for Canadians.

Repayment Terms:

• No repayment required for the non-repayable contribution.
• For repayable funding, after project completion, a 1-year grace period is provided, followed by equal monthly payments over 5 years.
• Repayable contributions are interest-free with no security/collateral required.
• Early repayment is allowed with no penalty.

Eligible Expenses:

• Incremental costs essential to the project may be eligible for reimbursement, including capital costs, labor, marketing, intellectual property costs, technology development, and professional services.

Ineligible Expenses:

• Costs deemed unreasonable, non-incremental, or not directly related to project activities are not eligible for reimbursement, such as basic R&D, land, salary bonuses, entertainment expenses, and refinancing of existing debts.

Fees:

• No fees associated with the non-repayable contribution.
• For repayable funding, no specific fees mentioned in the program details provided.

This program offers a great chance for your business to grow and thrive. You can receive up to $10 million in funding. This money can be used for various purposes, such as buying equipment, paying wages, marketing, and developing new technologies.

For businesses, the funding is interest-free and repayable over five years, with a one-year grace period after project completion. For not-for-profit organizations, the funding is non-repayable and can cover up to 90% of eligible costs.

This program supports projects that help transition to a green economy, foster inclusive recovery, enhance competitiveness, and create jobs. It’s a valuable opportunity to future-proof your business, build resilience, and contribute to long-term economic growth.