Free Small Business Loans From The Government – Canadian government funding programs can support small businesses, large corporations, non-profits and post-secondary research institutions. However, the key to accessing these programs is knowing which ones are best suited for your organization and upcoming projects.
The Canadian Government Grants and Loans Applicant Advisory Works team has an average success rate of 86% across all government funding programs and delivers an average time savings of 95% to our clients. Speak with a member of our team to find out what programs your business may qualify for by calling us at 1-888-599-3111 or visiting our Funding Help page.
Free Small Business Loans From The Government
Many business owners obtain financing through banking institutions. However, they often ignore government grant funding for business at both the provincial (ie Ontario Business Grants) and federal levels of government. Canadian Small Business Grants and other funding for small businesses are plentiful. It is important to know the different types of funding for small businesses. Fortunately, free resources can help sort through the funding landscape, including this Canadian small business funding guide.
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Canadian government funding programs can support small businesses, large corporations, non-profits and post-secondary research institutions. However, the key to accessing these programs is knowing which ones are best suited for your organization and upcoming projects.
Register for an upcoming Canadian government funding event to learn more about how funding works, how to navigate the government funding process and support services to help develop a successful application.
AdvisorWorks frequently hosts webinars and live events to help business owners and executives learn more about their funding capabilities. Register for a session to continue exploring business and export expansion funding.
Attendees will learn about specific government funding programs designed to help businesses begin exporting to foreign markets, such as CanExport, FedNor, and SR&ED. …
Government Business Loans
If you’re a startup, the best way to line yourself up for future government funding opportunities is to complete the startup funding checklist. This startup funding resource provides priorities for all startups to best position funding.
Are you unsure of your eligibility for any of the Canadian government funding programs listed above? The majority of government grants for small businesses are reserved for established SMEs (ie. 3+ years incorporated, 5+ salaried employees, $500,000+ annual revenue). If you are established, please send us a message or register for an upcoming small business funding event. From here, we can further evaluate your eligibility for specific Canadian government funding programs and help you select the most optimal funding for your business’s growth plans. Navigating the Canadian government funding process can be challenging for businesses of all sizes. Optimizing the planning, writing, presentation and reporting process can take considerable time and resources; However, there are tremendous benefits associated with accessing funds regularly. Companies should take the time to familiarize themselves with the available options to ensure they get the best possible outcome when completing the Canadian government funding process.
If you have questions about accessing business grants and loans to support, please review the information on this page on our Frequently Asked Questions by Canadian Companies. Our Small Business Funding Resource Library also helps you independently evaluate government funding programs. When you’re ready to discuss how Mentor Works can improve the funding process, call us at 1-888-599-3111 or visit our Funding page.
Both the provincial and federal governments offer small business funding programs and services. There are two common ways companies search for Canadian government funding programs, including browsing by their province/region of operation and browsing by their project/investment area.
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Companies can refer to our program library for a comprehensive view of the various small business funding grants and low-interest repayable loans available to Canadian businesses. These programs can be applied to a variety of activities such as hiring and training, research and development, capital investment and business expansion.
To qualify for most Canadian government funding programs, businesses must be incorporated for at least three years and have at least 15 people on the payroll, although each program has its own eligibility requirements. This is to ensure the financial stability of the organization. Generally speaking, most Canadian government grant programs are positioned to support established small and medium enterprises (SMEs) and large corporations.
Please consult our Canadian Small Business Funding Guide for more information on funding eligibility criteria and visit our blog for program-specific eligibility factors.
No. Most programs support businesses with at least 15 employees, but there are other programs, such as hiring and training grants, that support 1 to 50 employees. Canadian government grants and loans are designed to support small businesses and each has its own eligibility criteria.
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Yes, Canadian government funding programs generally only approve applications from businesses that have been incorporated for at least three years, but although these funds are limited, there are also small business funding programs for unincorporated businesses.
If you are unsure whether or not your Canadian small business is eligible for grants and loans, contact us to learn more.
To be awarded Canadian government funding, the financial health of a business is important. Generally, current balance sheet and income statement should be submitted with the application. At the very least, some financial information will be required, such as a letter from your financial officer.
There are also several online resources to assist with design components. As part of our process, we assist in developing customized business and project plans to act as supporting documentation for your funding application where necessary.
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The process for obtaining Scientific Research and Development (SR&ED) tax credits and incentives varies significantly. The tax refund process is often more complicated and time-consuming compared to the typical Canadian government grant process. In recent years we have seen the complexity of the claims process increase and the total value of the claim decrease.
Also, business owners are only entitled to the SR&ED tax credit once a year. As such, there is no immediate or regular cash flow improvement. Small business grants and Canadian government funding programs are available at various points throughout the year and can provide immediate cash flow impacts and direct support for upcoming projects.
To learn more about how government funding and SR&ED tax credits can be combined, watch this quick video on a holistic funding approach.
There are a number of small business grants and repayable loans that focus on business expansion. These types of funding programs often seek to help businesses increase production to serve a greater portion of the domestic or international market. Projects typically involve expanding facilities, using innovative equipment, hiring and training employees, and developing new markets through ambitious marketing and sales efforts.
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The primary purpose of government funding is to keep highly skilled talent in Canada, increase the number of skilled jobs in Canada and ensure their long-term sustainability. As long as expansion plans ensure the maintenance of jobs at a Canadian-based operation, financing options for expansion are important.
To strengthen your business’s export expansion plans and learn how to access Canadian government funding for exporting, download the Canadian Business Guide to Export Expansion.
Want to expand your business into a new market? This video explains how government grants and loans can help fund your business expansion projects.
Canadian government funding programs support a wide range of business activities and expenditures. Grants and/or loans are available for hiring and training new and existing employees; Research and development for new projects and product innovation in various industries such as automotive, clean technology and manufacturing; There are capital investment funds for adopting new technology; and funding programs such as CanExport that support global business expansion for economic business growth.
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There are also various COVID-19 government funding programs currently in place to assist businesses by covering revenue loss and recovery costs related to the global pandemic.
This video explains what the four main funding activities are for government grants and loans and how to leverage them for your unique business.
Yes, but not as much as established SMEs. Generally you must have been incorporated for at least two years to apply for non-repayable funds (small business grants), but there is a significant amount of funding available to support activities such as product and process applied research, engineering design, technology acceleration, manufacturing, etc. Testing, certification, marketing studies, proof of concept, pilots and demonstrations, and pre-commercialization activities.
You can focus on groups like MaRS that provide market research studies and business project support from local universities and colleges. MentorWorks also offers resources for startups and entrepreneurs. Startups can download our free funding checklist to help align your business for future funding success.
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Regional Innovation Centers (RICs) are another good source of provincial and federal funding. They also provide excellent business planning tools and support to help you decide on the right strategy for growth. As a first step, contact your local business center for more information on startup resources and support.
Across Canada, there are various recruitment grants to subsidize the recruitment of new graduates. These programs are often targeted at specific industries, however some are more general and can provide a wide range of support to employers or employees. Most government-supported programs require you to find your graduate degree before applying. This is not optional – it is
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