Artisan Metal Finishing is a London, Ontario based metal treatment and finishing company. Providing electroplating, corrosion protection, degreasing and other services, they have established themselves as leaders in the Ontario metal finishing market for over 25 years. Recently, Artisan applied for Investing in Business Growth and Prosperity (IBGP) repayable funding to provide enhancements to their facility and become more competitive in markets that they serve. Artisan was successful in obtaining the funding that they applied for and will leverage nearly $1 million for the implementation of new product lines and market expansion initiatives.
Artisan Trusts Mentor Works for Ontario Government Funding
The relationship between Mentor Works and Artisan has allowed the Ontario manufacturer to benefit from a wide variety of small business funding. Artisan has embraced the utility of Canadian government funding through several past government funding initiatives including the FedDev Ontario Training Program and CME SMART Advanced Technologies for Global Growth for equipment adoption. Based on past success of receiving government grants and growing their business exponentially, Artisan sought after IBGP to further this growth and diversify revenue streams.
With the recent $974,338 in Ontario government funding support for Artisan the FedDev Ontario’s IBGP, the business will be able to move forward with an expansion project that will see their shop floor space grow by 11,000 square feet. New equipment and production lines will be installed in this new space to increase the business’ capacity and penetrate new markets. The implementation of barrel plating and e-coating systems will enable greater abilities, making them a top competitor in Ontario and the northeast United States. In addition, 11 full-time equivalent positions have been created immediately with another 10 full-time equivalent positions to be created by the project’s completion date.
Utilize FedDev Ontario Government Funding for Business
Manufacturing businesses looking to scale-up production efforts through the adoption of new technologies are excellent candidates for IBGP repayable funding. For-profit companies may receive a loan of up to $20 million (up to 25% of eligible project costs) for projects that expand a business’ abilities, allow for the entering of new markets, and create jobs. Ontario small-and-medium-sized enterprises (SMEs) who are incorporated for at least 2 years and employ between 15-1000 full-time equivalent staff should consider contacting Mentor Works to discuss how IBGP funding can help your business expand and enable consistent growth.
Small Business Grants and Resources to Enhance Competitiveness
Small businesses throughout Canada have received Canadian government grants and loans to expand their business and become highly competitive. If you, like Artisan Metal Finishing, are interested in receiving funding for growth initiatives, look at our list of government funding programs for a view of what your options are. Mentor Works provides free small business funding webinars where you can listen to a government funding expert discuss these programs in greater detail. For daily government funding news, you can follow Mentor Works on Twitter, or for the best funding news of the week, register for our free e-newsletter to never miss a program or blog post.