SFU 4D LABS
Highlights
This program is a fantastic opportunity for your business. It offers up to $1,000,000 in financing to help you make crucial purchases. Additionally, you can receive $150,000 for software or daily operating costs. This funding can be used for various needs, including operating expenses, restorations, new equipment, and software.
Key Benefits:
- Government-backed loan: This means more security and better terms.
- Flexible repayment options: Choose how you pay it back, with up to 15 years to do so.
- Access to advanced materials solutions: Benefit from the expertise of 4D LABS staff in both scientific and business areas.
Qualifying for this program is straightforward, making it easier for you to get the support you need. Being approved will provide you with the financial resources and expert support to develop advanced prototypes, collect high-quality data, and commercialize your technology solutions efficiently.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan offers a fixed interest rate of 3.5% per annum.
- Repayment term is up to 10 years.
- Early repayment is allowed without penalty.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Research and development costs
- Operational expenses
Ineligible Expenses:
- Personal expenses
- Real estate purchases
- Debt refinancing
Fees:
- Application fee of $200
- Annual administration fee of 1% of the loan amount
Qualifications
- Must be located in Burnaby, B.C., Canada.
- Must be involved in advanced materials research and development.
- Must be interested in collaborating with academic and industry experts.
- Must require access to testing, fabrication, and prototyping tools.
Must be seeking support for developing advanced prototypes, collecting high-quality data, or commercializing technology solutions.
Disqualifications:
- Businesses not located in Burnaby, B.C., Canada.
- Businesses not involved in advanced materials research and development.
Description
This program offers your business a chance to access up to $1,000,000. You can use this money to buy equipment, improve your workspace, or cover other essential costs.
You can use the funds for:
- Buying new machinery or technology
- Renovating your office or store
- Upgrading your IT systems
For operational expenses like software or working capital, you can receive up to $150,000.
Key benefits include:
- Government guarantees 85% of the loan, reducing your risk.
- Flexible repayment options: Choose between variable or fixed interest rates, or a combination of both.
- Up to 15 years to repay the loan, giving you ample time to manage your finances.
This program is designed to help your business grow and succeed with less financial strain.
Program Steps
Register for an Account:
- Visit the program's official website.
- Create an account using your business email and a secure password.
- Verify your email address to activate your account.
Log In to Your Account:
- Use your registered email and password to log in.
- Navigate to the application section of the website.
Complete the Online Application Form:
- Fill in your business details, including name, address, and contact information.
- Provide a brief description of your business and its operations.
Prepare the Appropriate Documentation:
- Gather the following documents:
- Business registration or incorporation documents.
- Recent financial statements (balance sheet, income statement).
- Business plan outlining your project and how the program will benefit your business.
- Quotes or estimates for any equipment or services you plan to purchase.
- Any other relevant documents specified in the application guidelines.
- Gather the following documents:
Upload the Required Documents:
- Scan and upload the prepared documents to the application portal.
- Ensure all files are clear and legible.
Review and Submit Your Application:
- Double-check all entered information and uploaded documents for accuracy.
- Submit your completed application through the online portal.
Confirmation and Follow-Up:
- You will receive a confirmation email acknowledging receipt of your application.
- Monitor your email for any follow-up requests or additional information needed.
- Respond promptly to any inquiries from the program administrators.
Await Application Review:
- The program administrators will review your application.
- This process may take several weeks; be patient and prepared for any additional requests.
Receive Approval and Next Steps:
- If your application is approved, you will receive an official notification.
- Follow the instructions provided to access the program benefits and begin your project.