Production program — French market budgets under $3.5M
Highlights
This program is a fantastic opportunity for your business. It offers up to $1,000,000 in financing, with an additional $150,000 available for software or daily operating costs. This funding can be used for various needs, including operating expenses, restorations, new equipment, and software. The flexibility in how you can use the funds ensures that you can address the specific needs of your business.
What sets this program apart is that it is backed by the government, providing you with a sense of security and reliability. You also have the advantage of choosing how to repay the loan, with terms extending up to 15 years. This makes it easier to manage your finances and focus on growing your business. Qualifying for this program is straightforward, making it accessible and beneficial for your business needs.
Financing Details
Type of Financing: This program offers a Grant.
Eligible Expenses:
- Production costs, including salaries for cast and crew.
- Equipment rental and purchase.
- Location fees and permits.
- Post-production expenses, such as editing and special effects.
- Marketing and distribution costs.
Use of Funds:
- Funds cannot be used for personal expenses.
- Funds cannot be used to pay off existing debts.
- Funds cannot be used for any expenses not directly related to the production.
Repayment Terms:
- As this is a grant, there is no repayment required.
Fees:
- There are no application fees associated with this grant program.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
- Business must be operating in Prince Edward Island.
Currently exporting or planning to start exporting.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Softwood lumber industry.
- Professional services such as marketing firms, creative agencies.
Description
This program offers your business up to $1,000,000 in funding. 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 receive up to $150,000.
The federal government guarantees 85% of the loan, providing a strong safety net for your business.
Flexible repayment options are available. You can choose 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: Prepare the necessary documents to support your application. You will need:
- Business financial statements
- Business plan
- Tax returns
- Proof of business registration
- Any other relevant financial documents
Complete the Application Form: Fill out the application form provided by the program. Ensure all information is accurate and complete.
Submit the Application: Submit your completed application form along with the required documentation through the designated submission portal or via mail, as instructed by the program guidelines.
Await Confirmation: After submission, wait for a confirmation receipt from the program. This may include a reference number or confirmation email.
Respond to Additional Requests: Be prepared to provide any additional information or documentation if requested by the program administrators.
Review Approval Terms: Once approved, review the terms and conditions of the program. Ensure you understand all requirements and obligations.
Sign Agreement: Sign any necessary agreements or contracts to formally accept the program's terms and conditions.
Receive Funding: Upon completion of all required steps, receive the funding or benefits provided by the program.
Implement Program Benefits: Use the funding or benefits as outlined in your application to support your business operations and growth.
Report Progress: Periodically report on the progress and impact of the program benefits on your business, as required by the program guidelines.