Until recently, Federal agricultural funding for small business has been distributed through several regional councils located across Canada. These councils have had the responsibility for assessing projects and allocating funding for local agricultural improvement programs for over 16 years. The Canadian Government has recently decided to delegate these responsibilities to a centralized distribution system for future Agricultural Business Funding Grant.
Federal Business Funding Grants for Canadian Agriculture
Regional councils, including Ontarios Agricultural Adaption Council (AAC), have been the primary source of funding information and support for their surrounding agricultural communities. They have provided a quick and personalized approach to adhere to the needs and time requirements of local businesses. The programs that are currently offered by regional councils are still open for applications; however, these programs are becoming increasingly time sensitive as most of their project deadlines are quickly approaching:
AIP is a federally funded Canadian business grant program offered in two streams. Agriculture and Agri-Food Canada are still accepting applications; however, businesses are required to finish their project by March 31, 2013.
- Knowledge Creation and Transfer Stream: Covers 50% of eligible projects costs with non-repayable business funding grants up to $4M. Funds are intended for pre-commercialization expenses regarding innovative agri-food or agri-based products and technologies.
- Commercialization Stream: Offers up to $10M in fully-repayable, no interest business loans to support up to 50% of the eligible project costs. This loan is intended to encourage commercialization efforts regarding innovative agri-food or agri-based products and technologies.
CAAP is a Canadian Government funding program that supports agricultural innovation. This program can provide small business funding support through the form of a non-repayable business funding grant up to $100K or up to 50% of the contribution of the project. The CAAP supports advanced research and development projects related to the Canadian agriculture and agriculture sector. The program remains open and applications are still being accepted by the AAC. Those who would like to apply for this program must do so in the near future as all projects must be completed by October 2013.
Local Ontario Business Funding Support
Those businesses who are interested in receiving additional small business funding advice and application support regarding a Ontario Government Grants can start by contacting a Ontario Government Funding Expert or signing up for one of our Free Grant Funding for Business Seminars. To hear about additional opportunities regarding grants for small business in Ontario, follow us on Twitter or sign up for our Weekly E-Newsletter.