Tenders — Government of Newfoundland and Labrador
Highlights
This program is a great opportunity for your business to secure essential funding. It offers up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day operating costs. This can help you cover a wide range of expenses, from operating costs to new equipment and restorations.
What You Get:
- Up to $1,000,000 in financing
- An additional $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, giving you more flexibility. You can choose how to repay it, with up to 15 years to do so. This makes it easier to manage your finances and invest in your business's growth.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets such as software
- Working capital for operational costs
Use of Funds:
- Funds cannot be used for personal expenses.
- Funds cannot be used for debt repayment.
- Funds cannot be used for any illegal activities.
Fees:
- No application fee.
- No processing fee.
- No hidden charges.
Qualifications
- Must be a business operating in Newfoundland and Labrador.
- Must be able to participate in public procurement processes.
- Must comply with the Atlantic Provinces Standard Terms and Conditions.
Must adhere to relevant trade agreements, such as the Canadian Free Trade Agreement and International Trade Agreements.
Disqualifications:
- Businesses not operating within Newfoundland and Labrador.
- Businesses that do not comply with public procurement regulations.
- Businesses that do not adhere to the Atlantic Provinces Standard Terms and Conditions.
- Businesses that do not comply with relevant trade agreements.
Description
This program offers your business a chance to receive up to $500,000. You can use this money to buy equipment, upgrade your facilities, or improve your services.
You can use the funds for:
- Purchasing new machinery
- Upgrading your technology
- Renovating your workspace
- Expanding your operations
The money can also cover operational costs, helping your business run smoothly.
The program provides flexible repayment options. You can choose a fixed or variable interest rate, and you have up to 10 years to pay it back. This allows you to manage your finances in a way that suits your business best.
This is a great opportunity to grow your business without the immediate financial strain.
Program Steps
Register Your Business: Ensure your business is registered with the appropriate government authorities in Newfoundland & Labrador.
Create an Account: Visit the Public Procurement Agency's website and create an account to access the Open Calls for Bids.
Prepare Documentation: Gather the necessary documents to support your application. These may include:
- Business registration certificate
- Financial statements
- Tax clearance certificate
- Proof of insurance
- Previous contract performance records (if applicable)
Review Open Calls: Browse the Open Calls for Bids section on the Public Procurement Agency's website. Identify opportunities that match your business capabilities.
Download Bid Documents: Download the bid documents for the opportunities you are interested in. Carefully review the requirements and specifications.
Complete Bid Submission: Fill out the bid documents accurately. Ensure all required information is provided and all forms are completed.
Submit Bid: Submit your completed bid documents through the specified submission method before the deadline. This may involve electronic submission or physical delivery to the Public Procurement Agency.
Monitor Bid Status: After submission, monitor the status of your bid through your account on the Public Procurement Agency's website. Be prepared to provide additional information if requested.
Attend Bid Openings: If applicable, attend the bid opening sessions to understand the competitive landscape and any immediate feedback.
Follow Up: Stay in contact with the Public Procurement Agency for updates on your bid status and any further steps required if your bid is successful.