AgriProcessing Initiative: Canadian Government Funding
There is a wealth of agricultural government funding for business , one being the AgriProcessing Initiative (API) of the Agricultural Flexibility Fund. By providing support to existing processing companies that have established new technologies and processes necessary to sustaining todays global marketplace. This in turn will increase the competitiveness of the agri-processing sector in Canada. API motivates processors to acquire innovative technologies and processes while addressing a variety of business challenges.
The AgriProcessing Initiative is currently open for application submissions, however funded projects must be completed by March 31, 2014.
Agricultural Canadian Government Funding
Previously mentioned as one of our Top 7 Agricultural Funding Programs, the AgriProcessing Initiative is a five-year Canadian Government funding initiative providing up to $50 million in business funds and applications are accepted until funding is exhausted. The initiative can provide repayable contributions of up to $2 million per project, 50% of eligible costs, towards the purchasing and installing of new-to-company machinery and equipment in Canadian facilities. The non-interest unsecured contributions must be repaid within 8 years of the project being completed.
How to Apply For This Canadian Government Funding Program
Companies interested in applying for this funding should:
- Decide the timing for undertaking and submitting an environmental assessment, if required; and
- Complete and submit the AgriProcessing Initiative Application which includes:
- Business plan;
- Project description and Work plan;
- Proposed benefits to Canada; and
- Supporting documentation (Certificate or Articles of Incorporation), equipment quotes and descriptions from suppliers, historical and pro forma financial statements
Maximizing Funding for Small Business via Mentor Works
Businesses who are interested in receiving more information and guidance towards various Canadian Government funding program applications are encouraged to contact one of our Canadian Government Funding Experts or attend one of our Free 60 Minute Government Funding for Business Informational Seminars. In addition, be sure to sign up for our Weekly Government Funding Canada E-Newsletter or connect with us on LinkedIn.