Trademarks
Highlights
This program is designed specifically for businesses like yours. It offers up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day operating costs. This funding can be used for a variety of needs, including operating expenses, restorations, new equipment, and software.
Why should you apply? This program provides government-backed loans, which means you get more favorable terms compared to traditional loans. You have the flexibility to choose how you pay it back, with up to 15 years to do so. This can significantly ease your financial burden and help you focus on growing your business.
What’s in it for you? By being approved, you gain access to substantial funds that can help you make important purchases and investments. The application process is straightforward, making it easier for you to qualify and take advantage of this opportunity.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed interest rate of 3.5% per annum.
Eligible Expenses:
- Purchase of new or used equipment.
- Leasehold improvements.
- Working capital needs.
- Intangible assets such as patents and trademarks.
Ineligible Expenses:
- Real estate purchases.
- Personal expenses.
- Any expenses not directly related to business operations.
Fees:
- Application Fee: $150, non-refundable.
- Processing Fee: 1% of the loan amount, can be financed as part of the loan.
- Late Payment Fee: $50 for each late payment.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
- Business must be operating in Canada.
- Must be involved in the trademark application process.
Must use electronic trademark correspondence.
Disqualifications:
- Businesses not operating in Canada.
- Businesses not involved in trademark applications.
- Businesses that do not use electronic correspondence for trademarks.
Description
This program offers your business a chance to receive up to $1,000,000. 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 working capital, you can get as much as $150,000.
The federal government guarantees 85% of the loan, providing a significant safety net for you.
This loan program is flexible. If you have made significant purchases in the last 365 days that fit the program guidelines, you can apply them to this loan.
You have various options to pay back the loan. You can choose a variable interest rate, a fixed one, or even combine your loan amount and interest into blended payments.
You have up to 15 years to pay back the loan, regardless of what you spend it on.
Program Steps
Create an Online Account:
- Visit the official website and create an account if you don't already have one.
Prepare Required Documentation:
- Gather the following documents:
- Business registration details
- Proof of business address
- Financial statements
- Trademark details (if applicable)
- Identification documents
- Gather the following documents:
Complete the Application Form:
- Log in to your account and fill out the online application form with accurate information about your business.
Submit Supporting Documents:
- Upload all the required documentation to support your application.
Review and Confirm:
- Carefully review all the information and documents you have provided.
- Confirm that everything is accurate and complete.
Pay the Application Fee:
- Make the necessary payment for the application fee through the provided payment options.
Submit the Application:
- Submit your completed application form along with the supporting documents and payment confirmation.
Monitor Application Status:
- Regularly check your account for updates on the status of your application.
- Respond promptly to any requests for additional information or clarification.
Receive Confirmation:
- Once your application is approved, you will receive a confirmation notice.
- Follow any further instructions provided to complete the process.