Prince Edward Island Business Women's Association
Highlights
This program is designed for you. It offers up to $1,000,000 in financing to help you make crucial purchases for your business. Additionally, you can receive $150,000 for software or day-to-day operating costs.
What You Get
- Up to $1,000,000 in financing
- An additional $150,000 for software or operating costs
The funds can be used for:
- Operating expenses
- Restorations
- New equipment
- Software
- And much more
The key difference between this loan and others is that it is backed by the government. You have the flexibility to choose how you pay it back, with up to 15 years to do so. This makes it easier to manage your finances and focus on growing your business.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Business development activities
- Marketing and promotional efforts
- Equipment purchases
- Training and professional development
- Operational costs
Use of Funds:
- Funds can be used for the above eligible expenses.
- Funds cannot be used for personal expenses, debt repayment, or any non-business-related activities.
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must be a woman entrepreneur or business professional.
- Business must be located in Prince Edward Island (PEI).
Open to women at all stages of their careers and businesses, including:
- Start-up entrepreneurs
- Established business owners
- Mid-career business professionals
- Rural entrepreneurs
- Newcomers launching their businesses
- Students
Disqualifications:
- Businesses not located in Prince Edward Island (PEI).
- Businesses not owned or operated by women.
Description
This program offers your business a chance to receive up to $50,000. You can use this money to cover various business needs such as buying new equipment, marketing, or even hiring more staff.
You can use the funds for:
- Purchasing new tools or machinery
- Marketing and advertising campaigns
- Hiring and training new employees
- Expanding your business operations
The money you receive does not need to be paid back, making it a great opportunity to invest in your business without the worry of future debt. This program is designed to help you grow and succeed, providing the financial support you need to take your business to the next level.
Program Steps
Create an Account: Visit the program's official website and create an account if you do not already have one.
Log In: Use your credentials to log in to your account.
Access the Application Form: Navigate to the program's section and locate the application form.
Prepare Documentation: Gather the necessary documents to complete your application. You will need:
- Business Plan
- Financial Statements (e.g., income statement, balance sheet)
- Proof of Business Registration
- Identification Documents
- Any other documents specified by the program
Complete the Application Form: Fill out the application form with accurate and up-to-date information about your business.
Upload Documentation: Attach the required documents to your application form.
Review and Submit: Double-check all the information and documents for accuracy. Once confirmed, submit your application.
Confirmation: After submission, you will receive a confirmation email or notification. Keep this for your records.
Follow Up: Monitor your email and account for any updates or requests for additional information from the program administrators.
Await Decision: Wait for the program administrators to review your application and notify you of their decision.