Supply Management Processing Investment Fund
Highlights
This program is designed for businesses like yours in the dairy, poultry, and egg processing sectors. It offers non-repayable contributions to help you adapt to market changes due to international trade agreements. This means you can invest in new automated equipment and technology to improve your productivity and efficiency without the burden of repayment.
Why Apply?
- Non-repayable funding: Unlike traditional loans, you don't have to pay this money back.
- Significant budget: With a total budget of $397.5 million, there are ample funds available.
- Flexible application period: Apply anytime until funds are fully allocated.
What's in it for You?
- Enhanced productivity: Invest in state-of-the-art equipment to streamline your operations.
- Increased efficiency: Modernize your facilities to stay competitive in a changing market.
- Easy qualification: If your business fits the criteria, the application process is straightforward.
By being approved for this program, you can make crucial upgrades to your processing facilities, ensuring your business remains competitive and efficient in the evolving market landscape.
Financing Details
Type of Financing: Non-repayable Contribution
Eligible Expenses:
- Purchase of new automated equipment
- Investment in new technology
- Improvements in productivity
- Enhancements in efficiency
Use of Funds:
- Funds can be used to support investments in dairy, poultry, and egg processing facilities.
- The funds cannot be used for any expenses not related to the purchase of new automated equipment and technology.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a processor of supply-managed commodities (dairy, poultry, or eggs).
- Must be investing in processing facilities to improve productivity and/or efficiency.
- Must be purchasing new automated equipment and technology.
Business must be operating within Canada.
Disqualifications:
- Businesses not involved in dairy, poultry, or egg processing.
- Businesses not investing in productivity or efficiency improvements.
- Businesses not purchasing new automated equipment or technology.
Description
This program offers non-repayable contributions to help your business adapt to market changes. You can receive funding to invest in new automated equipment and technology for your dairy, poultry, or egg processing facilities. This can help you improve productivity and efficiency.
You can use the money to:
- Buy new automated equipment
- Upgrade technology in your processing facilities
The program has a budget of $397.5 million available from April 1, 2022, to March 31, 2028. This is a great opportunity to modernize your operations without the need to pay back the funds.
Program Steps
Gather Required Documentation: Prepare the necessary documents to support your application. You will need:
- Business registration documents
- Financial statements (last two years)
- Business plan
- Quotes for new automated equipment and technology
- Proof of investment in dairy, poultry, or egg processing facilities
Complete the Application Form: Access and fill out the application form available on the program's website. Ensure all sections are completed accurately.
Submit Supporting Documents: Attach all required documentation to your application form. Make sure each document is clearly labeled and organized.
Review and Submit Application: Double-check your application and attached documents for completeness and accuracy. Submit your application through the designated online portal or by mail, as specified by the program guidelines.
Await Confirmation: After submission, you will receive a confirmation of receipt. The program administrators will review your application and may contact you for additional information or clarification.
Respond to Follow-Up Requests: If contacted, provide any additional information or documentation requested by the program administrators promptly to avoid delays in processing your application.
Receive Funding Decision: Once your application is reviewed, you will be notified of the funding decision. If approved, you will receive details on the funding amount and next steps for disbursement.
