Theatrical exhibition program
Highlights
This program is a great opportunity for your business. It offers up to $1,000,000 in financing to help you make important purchases. You can also get an additional $150,000 for software or day-to-day operating costs. This funding can be used for various needs, including operating expenses, restorations, new equipment, and software.
The key advantage of this program is that it is backed by the government, making it more secure than other loans. You have the flexibility to choose how you pay it back, with up to 15 years to do so. Qualifying for this program is straightforward, and being approved can significantly boost your business's growth and stability.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Marketing and promotional activities
- Research and development
- Employee training and development
Use of Funds:
- Funds cannot be used for debt repayment.
- Funds cannot be used for personal expenses.
- Funds cannot be used for activities outside the scope of the business.
Fees:
- No application fee.
- No processing fee.
- No hidden charges.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
- Business must be operating in Prince Edward Island.
Currently exporting or planning to start exporting.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Softwood lumber industry.
- Professional services such as marketing firms, creative agencies.
Description
This program offers your business up to $1,000,000 in funding. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or operational expenses, you can receive up to $150,000.
The federal government guarantees 85% of the loan, providing a strong safety net for your business.
Flexible repayment options are available. You can choose a variable interest rate, a fixed rate, or a combination of both.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These typically include:
- Business registration documents
- Financial statements (balance sheets, income statements)
- Business plan
- Proof of business address
- Identification documents for business owners
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form and all required documentation to the designated program office or online portal.
Await Confirmation: After submission, wait for a confirmation receipt from the program office. This will acknowledge that your application has been received and is under review.
Respond to Follow-Up Requests: Be prepared to provide additional information or clarification if the program office requests it. This may include further financial details or explanations about your business operations.
Review Approval Terms: If your application is approved, review the terms and conditions of the program. Ensure you understand all requirements and commitments.
Sign Agreement: Sign the agreement to officially enroll in the program. Keep a copy for your records.
Implement Program Benefits: Once enrolled, begin utilizing the benefits of the program as outlined in the agreement. This may include funding, resources, or other support provided by the program.