WTC Toronto — Growth Development Program
Highlights
This program is designed for visionary SME founders and C-suite executives like you, aiming to elevate your business to the next level. By joining, you will gain access to a peer-powered growth journey, exclusive insights, and practical tools to drive sustained growth.
Key Benefits:
- Exclusive Peer Network: Connect with 10-12 accomplished leaders, sharing diverse perspectives and experiences.
- Strategic Leadership Transition: Shift from operational to strategic leadership, allowing more time for visionary thinking.
- Innovative Toolkit: Access tools and insights to foster a culture of innovation and creative problem-solving.
- Leadership Excellence: Cultivate a high-performance team environment to drive organizational growth and adaptability.
Program Highlights:
- Flexible Learning: A mix of in-person and virtual sessions over six months.
- Real-World Insights: Learn directly from peers and industry experts.
- Expert Guidance: Seasoned facilitators provide practical strategies to navigate leadership challenges.
This program is easy to qualify for and offers a balanced, adaptable experience that will help you and your business thrive.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Intangible assets such as patents or trademarks
- Working capital for day-to-day operations
- Marketing and promotional activities
Ineligible Expenses:
- Personal expenses
- Real estate purchases
- Debt refinancing
- Dividends or bonuses to owners or employees
Fees:
- No application fee
- No document preparation fee
- No renewal fee
This grant offers a straightforward way to fund essential business activities without the burden of repayment or interest.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a significant business growth history.
- Must be led by visionary founders, owners, or C-suite executives.
- Must have an entrepreneurial focus, especially in innovation and growth.
- Must be committed to professional development.
- Must be open to collaboration and networking.
- Must have a problem-solving orientation.
- Must be willing to make a time commitment for regular meetings and engagement with peers.
Must be located in Ontario.
Disqualifications:
- None specified.
Description
This program offers a unique opportunity for your business to grow and thrive. You can borrow up to $1,000,000 to invest in your business. Out of this, you can use up to $500,000 for purchasing equipment or improving 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, the program can provide up to $150,000.
The federal government guarantees 85% of the loan, giving you a significant safety net.
Flexible repayment options are available. You can choose between 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. This extended payback period allows you to manage your finances effectively while growing your business.
Program Steps
Gather Required Documentation:
- Financial statements (last 2 years)
- Business plan
- Proof of business registration
- Tax returns (last 2 years)
- Identification documents (e.g., passport, driver's license)
- Any additional documents specified by the program guidelines
Complete the Application Form:
- Fill out all sections of the application form accurately
- Ensure all required fields are completed
- Double-check for any errors or omissions
Schedule a Consultation:
- Book a one-on-one consultation with a program manager
- Discuss your business needs and how the program aligns with your goals
- Get personalized advice and clarification on the application process
Submit the Application:
- Submit the completed application form along with all required documentation
- Ensure submission is done through the specified channel (online portal, email, or in-person)
Follow Up:
- Monitor your email and phone for any communication from the program administrators
- Respond promptly to any requests for additional information or clarification
Review and Approval:
- Wait for the review process to be completed
- Be prepared for possible interviews or additional documentation requests
Receive Confirmation:
- Once approved, receive confirmation of your acceptance into the program
- Review the terms and conditions carefully
Participate in the Program:
- Engage in all required activities, such as workshops, peer-group discussions, and case studies
- Utilize the resources and support provided to maximize the benefits for your business
Provide Feedback:
- At the end of the program, provide feedback on your experience
- Share insights on how the program has impacted your business growth and leadership skills