Community Adjustment Fund – Last Call for Submissions
The second Intake of CAF provides support to SME’s in Southern Ontario through a federal loan mechanism, at zero percent for 10 years. Community Adjustment Fund will prioritize manufacturing communities that depend on a single industry and has a population of less than $250,000, and supports economic recovery and job creation. The focus is on operational businesses (i.e. no start-ups) with an interest to innovate, modernize, grow and improve their competitiveness.
Eligible projects include expansion of production technology, access to markets and increase in production capacity. The selection criteria will be based on job creation or preservation and the strengthening or enhancement of businesses to remain viable and competitive. To rank and assign the highest potential of success on your individual projects, complete the assessment based on the largest jobs created per dollar invested by CAF. Further consideration will be offered based on a legacy of longer-term ecological and/or economic benefits to the business.
The intake provides funding of projects on an immediate basis to conclude on March 2011 where approximately $125 million will be invested by the Canada’s Economic Action Plan. Through this program, 90 projects have already received an investment of $101 million.
The deadline for submission to receive loan support of 75% of non-capital projects and 50% of capital projects is January 18, 2010. For non-capital projects, a strategic or business case is required to be submitted, whereas for capital projects a government-format business plan is required. The submission can be made on-line through Community Adjustment Fund.
Should you have questions or need immediate support with your submission, please do not hesitate to contact us.