Since the release of Growing Forward 2, Mentor Works has helped Canadian agriculture and agri-food businesses select and access small business grants and loans programs that fit their unique set of challenges and growth opportunities. Projects that received funding have brought forth more efficient processes and strengthened competitive advantages, helping companies achieve greater success domestically and internationally.
Top Small Business Grants and Loans for Canadian Agricultural and Agri-Food Businesses
1. Agri-Processing Initiative Small Business Loans: Technology Adoption Projects
The Agri-Processing Initiative (API) was launched as part of the original Growing Forward Program, designed to help agri-processors become more competitive through the adoption of new technology. This interest-free, unsecured government business loans program offers up to $2 million per project and can be used for costs such as equipment, training, installation, and environmental knowledge and assessments. This program is available until March 31, 2014.
2. AgriInnovation Program – Enabling Commercialization and Adoption Stream: Commercialization Projects Only Until April 2014
The AgriInnovation Program (AIP) Enabling Commercialization and Adoption Stream offers repayable loans of up to $10 million at 0% interest. The small business loans cover a variety of expenditures helping to improve a firm’s productivity and promote innovation. AgriProcessing will cover technology adoption programs until March 31, 2014, thus the new AgriInnovation Program’s Enabling Commercialization and Adoption Stream will support strictly pre-commercialization product demonstration and commercialization projects until API’s funding is depleted, at which point, AIP will accept adoption projects as well, in lieu of AgriProcessing.
3. AgriInnovation Program – Industry-Led Research and Development Stream: Industry-Wide Growth & Improvement Projects
The AgriInnovation Program also offers opportunities for industry-wide improvement initiatives and post-secondary collaboration projects that can potentially have a significant impact on the agricultural industry and Canadian landscape. The program’s Industry-led Research and Development Stream provides funding through Canadian small business grants through two separate categories: the Agri-Science Cluster offers contributions of up to $20 million while the Agri-Science Project Category provides up to $5 million in business funding grants support for small projects, which can be local, regional, or national in scope.
4. Graduate Enterprise Internships (GEI): R&D Hiring Grants
For companies that are looking to bolster their project talent through the hiring of recent graduates, the Graduate Enterprise Internship (GEI)/iSTEM offers a 50% wage subsidy for a 6-month internship within Ontario. Grant funding is available for all incorporated businesses, up to $10K for each Bachelor’s graduate hired and $15K for each Master’s or PhD level graduate hired.
Contact a Canadian Government Funding Expert to Learn More about Small Business Grants and Loans Opportunities
Contact a Canadian Government Funding Expert for more information about how we can help your business select and access these and other related Canadian small business grants and loans programs, or visit us at www.mentorworks.ca.
Learn More about Mentor Works Small Business Grants and Loans Experts
View this 1 minute trailer to learn more about how Mentor Works helps its clients leverage government grants for small business and business loans for greater success.