Posted by Jorge LeClair in
The Atlantic Canada Opportunities Agency is a federal government department whose mandate is to create opportunities for economic growth in Atlantic Canada through programs as well as funding that increase competitiveness, innovation, productivity and economic diversification.
The Business Development Program of Atlantic Canada’s Opportunities Agency offers interest free, unsecured business loans for new or existing businesses that are repayable on a flexible time schedule built around a business’ needs. The exact amount of funding provided is evaluated on a case by case basis.
In order to apply for funding an applicant will need to present a persuasive business plan that explains a financial need, proves repayment viability using qualitative/quantitative data and demonstrates a benefit to the Atlantic community.
The program does not fund 100% of costs, rather it funds 50% or 75% of eligible costs.
Cost eligible for 50% financing include direct start-up or operating expense such as working capital, buildings (new acquisitions or renovations), site improvement (for example parking space creation, signage, landscaping, etc) equipment, patents, certifications and trademarks.
Cost eligible for 75% financing include marketing, staff training, required case studies, consultant fees, productivity improvement, environmental assessments as well as research and development expenses.
As a Business Development Consultant I am available to answer any questions you may about this or other funding programs. I can also assist in applying to this program. I can be contacted at jorge@jorgeleclair.ca
