Newfoundland and Labrador Business Investment Program
The Business Investment Program provides repayable term loans to Newfoundland and Labrador SMEs in strategic growth sectors and export-focused businesses.
About this program
The Newfoundland and Labrador Business Investment Program provides repayable term loans to small and medium-sized enterprises in strategic growth sectors and to businesses with export potential that need assistance entering or expanding in external markets. Loans are intended to complement conventional financing where a need has been demonstrated and to increase a business's capital base so it can leverage private-sector investment. Interest is normally set at the Bank of Canada rate plus 0.5 percent, subject to change.
Eligibility
SMEs based and operating in Newfoundland and Labrador may apply if they have fewer than 100 employees, less than $10 million in sales, operate in a strategic sector, and can demonstrate project capacity and financing need.
Requirements
- Applicant must be an SME based and operating in Newfoundland and Labrador.
- Applicant must normally have fewer than 100 employees and less than $10 million in sales.
- Business must operate in a strategic sector defined by the Department of Jobs, Growth and Rural Development.