Student Summer Employment Program — High school
Highlights
This program is an excellent opportunity for your business to access essential funding. It offers up to $1,000,000 in financing, with an additional $150,000 specifically for software or day-to-day operating costs. This financial support can be used for various needs, including operating expenses, restorations, new equipment, and much more.
Key benefits of this program include:
- Flexible repayment options: You have up to 15 years to repay the loan.
- Government-backed security: This ensures lower risk compared to other loans.
- Wide range of uses: From operating expenses to new equipment, the funds can cover many aspects of your business.
Applying for this program is straightforward, and qualifying is easier than most other financing options. Approval will provide you with the financial stability and flexibility needed to grow and sustain your business.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- The program offers a subsidy of up to $14.50 per hour to cover 100% of wages for hiring a high school summer student for a duration of 4 to 8 weeks.
Eligible Expenses:
- The subsidy can be used to cover wages for high school summer students employed by non-profit organizations.
Ineligible Expenses:
- The funds cannot be used for any expenses other than covering the wages of high school summer students.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a non-profit organization.
- Must hire a high school summer student.
- Employment duration must be between 4 to 8 weeks.
Must be located in Newfoundland and Labrador.
- Disqualifications:
- For-profit businesses.
- Organizations outside Newfoundland and Labrador.
- Hiring students not in high school.
- Employment duration less than 4 weeks or more than 8 weeks.
Description
This program offers a subsidy of up to $14.50 per hour to cover up to 100% of wages for your non-profit organization. This is available when you hire a high school summer student for a period of 4 to 8 weeks.
Benefits to your business:
- Financial Relief: The subsidy can significantly reduce your wage expenses, allowing you to allocate funds to other important areas of your organization.
- Support for Youth Employment: By hiring a high school student, you are providing valuable work experience and supporting the local community.
- Flexible Duration: You can hire the student for a period that suits your needs, from 4 to 8 weeks.
This program is a great opportunity to get financial support while contributing to the development of young talent in your community.
Program Steps
Gather Required Documentation:
- Business registration details
- Financial statements (last two years)
- Business plan
- Proof of business address
- Identification documents for business owners
Create an Online Account:
- Visit the program's official website
- Register for an account using your business details
Complete the Online Application Form:
- Log in to your account
- Fill out the application form with accurate business information
- Upload the required documentation
Review and Submit Application:
- Double-check all entered information for accuracy
- Ensure all required documents are uploaded
- Submit the completed application form
Wait for Application Review:
- The program administrators will review your application
- Be available to provide additional information if requested
Receive Approval Notification:
- If approved, you will receive a notification via email or through your online account
- Review the terms and conditions of the approval
Accept the Terms and Conditions:
- Log in to your online account
- Accept the terms and conditions to proceed
Receive Funds:
- Upon acceptance, the funds will be disbursed as per the program guidelines
- Use the funds for the approved business purposes
Maintain Compliance:
- Keep records of how the funds are used
- Submit any required reports or documentation as per the program’s requirements