Top 4 Canadian Small Business Grants and Loans for Manufacturers
Mentor Works is dedicated to helping hundreds of Canada’s most successful small and medium-sized manufacturers overcome financial obstacles to growth through the access of government small business grants and loans. As such, we have identified some of the top business grants and loans options for manufacturers to share with our clients, industrial organizations, various media outlets, and of course the dedicated subscribers to our Canadian government funding weekly e-newsletter.
Small Business Grants and Loans for Manufacturers Eligibility
Generally speaking, this list of Canadian government grants and loans is intended for small to medium-sized companies that have been incorporated for at least 3 years, create $500K+ in annual revenue, have 15 or more employees and perform R&D or manufacture a product in Canada. If you do not meet these qualifications please visit our contact page to download our free Funding Info Download for Start-ups.
1. IRAP Accelerated Review Process (ARP) Research and Development Funding
Companies who have previously qualified for SR&ED tax claims are a clear fit for IRAP funding for research and development. We have helped our clients access various forms of IRAP funding including the IRAP ARP Program. In order to qualify for IRAP ARP funding a business must have 1-500 employees on payroll and be incorporated for 2+ years. Recipient firms may receive up to $50,000 in Canadian small business grants of which 80% of direct labour costs and 50% of sub-contractor costs will be eligible for coverage.
Projects Eligible for Canadian Business Grants through IRAP Funding:
- Web Presence Optimization and Search Engine Optimization (SEO) strategies
- Product Development and Commercialization
- Technology Adoption, Assessment, and Feasibility Studies
- Lean Manufacturing and Six Sigma Projects
2. IRAP Digital Technology Adoption Pilot Program (DTAPP)
Canadian government grants through IRAP Digital Technology Pilot Project (DTAPP) provides Canadian companies with between 15 to 500 employees Canadian business grants in order to help them improve efficiency through the adoption of new forms of technology. Up to $100,000 is available to Canadian SMEs that qualify. IRAP DTAPP small business grants cover as much as 80% of direct labor and 75% of subcontractor costs associated with eligible projects.
Popular IRAP DTAPP Small Business Grants Projects
- Adoption of digital systems, including barcoding systems and RFID infrastructures
- Extension of ERP modules for sales/AR, multi-product configurator and financial reporting
- Implementation of new software and order entry configurator for order placement a& confirmation
3. HRSDC Career Focus Small Business Grants for Hiring Recent Graduates
We have received an outpouring of interest in this being one of the most generous business grants for hiring recent grads programs currently available to small businesses in Canada. The Human Resource and Skills Development Canada (HRSDC) Career Focus offers up to $20/hour of a recent graduate’s wages up to $20,000 total over a 25-week term. While the program’s application timeline is somewhat lengthier than most other hiring programs HRSDC Career Focus covers a wide variety of job titles, including: Engineer, Financial Analyst, Marketing Analyst, Administrative Assistant, Software Developer, Graphic Designer, and many more.
Connect with Government Funding Planners from Mentor Works
Mentor Works expects several key updates and releases for programs that fund manufacturing and R&D to take place in the near future. The only way to make sure that you do not miss out on important information is to sign up for Mentor Works’ Canadian business grants and loans weekly e-newsletter. You can also follow us Facebook, Twitter, LinkedIn, YouTube, and Google+. Looking to get started on accessing Canadian government funding for manufacturers and R&D right away? Come out and meet Mentor Works’ Founder and President, Bernadeen McLeod at our next Canadian government funding workshop by signing up for free today in order to avoid disappointment.