This program is a fantastic opportunity for your business. It offers up to $1,000,000 in financing to help you make essential purchases. Additionally, you can receive an extra $150,000 for software or day-to-day operating costs.

What You Get

• Up to $1,000,000 in financing
• $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 invest in your business's growth.

Type of Financing: Loan

Repayment Terms:

• Interest Rate: Fixed at 3.5% per annum.
• Repayment Period: Up to 10 years.
• Grace Period: No payments required for the first 6 months.

Eligible Expenses:

• Purchase of new or used equipment.
• Renovation or improvement of existing facilities.
• Research and development costs.
• Marketing and promotional expenses.
• Employee training programs.

Ineligible Expenses:

• Personal expenses.
• Debt refinancing.
• Purchase of real estate.
• Payment of dividends or bonuses.

Fees:

• Application Fee: $200, non-refundable.
• Processing Fee: 1% of the loan amount, deducted from the disbursement.
• Late Payment Fee: 2% of the overdue amount per month.

This program offers your business up to $1,000,000 in funding. You can use this money to buy equipment, upgrade your workspace, or cover other essential costs.

Here’s what you can use the money for:

• Up to $500,000 for equipment like commercial kitchen appliances, manufacturing machinery, or IT infrastructure.
• Up to $150,000 for software or other operational expenses.

The government backs 85% of the loan, giving you extra security.

Flexible repayment options are available. You can choose a variable or fixed interest rate, or even combine them. You have up to 15 years to pay back the loan, making it easier to manage your finances.