funding programs - newfoundland and labrador · funding programs btcrd were in program booklet...
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IN.We’ret. 1.800.563.2299
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Business, Tourism, Culture
and Rural Development
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Funding Programs
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Business Investment FundThe Department of Business, Tourism, Culture and Rural Development (BTCRD) recognizes business and sector development as the key to economic development. The Business Investment Fund provides a source of funding to business and economic sectors that responds to the changing needs of enterprises. The Business Investment Fund is comprised of two components: the Business Investment Program and the Business Development Support Program.
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BusinessInvestment
Program
Business Development
SupportProgram
AvailableFunding
The Business Investment Program provides term loans and equity investments to small and medium-sized enterprises (SMEs) in strategic growth sectors as identified by BTCRD. The fund is also available to businesses who have export potential and require assistance to enter or expand in external markets. Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.
The Business Development Support Program assists Newfoundland and Labrador SMEs with opportunities to increase their productivity and improve their competitiveness. The program supports SMEs who demonstrate a desire to develop and grow by improving the operations of the business, investing in its people, and focusing on trade opportunities. BTCRD assistance will be targeted towards businesses in strategic sectors that normally focus on export markets and/or improve import substitution. Funding is available for productivity improvements, knowledge development, market development and/or professional technical advice.
The Business Investment Program is in the form of repayable term loans to a maximum amount of $500,000 per project at the department’s base rate of three per cent.
Equity funding in the form of redeemable preferred shares to a maximum of $500,000 per project; maximum aggregate of $1 million is available.
The Business Development Support Program is in the form of a non-repayable contribution(s) to a maximum amount of $100,000 per government fiscal year. The contribution level will be based on 50 per cent of eligible costs, with the business identifying their access to the remaining 50 per cent to complete the project(s).
Eligible applicants must normally:• Be a small and medium-sized
enterprise (SME) based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales.
• Demonstrate its ability to undertake the work identified in the project proposal.
• Demonstrate its ability to access the financial capital required to complete the project.
• Operate in a strategic sector as defined by BTCRD.
• Be in good standing with the Government of Newfoundland and Labrador.
Eligible Applicants
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Regional Development FundThe Department of Business, Tourism, Culture and Rural Development provides support to organizations by way of non-repayable contributions for projects aimed at supporting economic development, innovation and capacity building in all regions of the province. The Regional Development Fund is comprised of two components: the Regional Development Program and Community Capacity Building.
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About the Fund
AvailableFunding
The Regional Development Program provides support by way of non-repayable contributions to organizations for the development and implementation of economic initiatives with respect to regional and sectoral development, diversification, innovation, and key emerging sectors. Projects submitted for consideration must clearly link non-commercial activities to economic diversification and/or business development. The four key themes of projects intended for funding are infrastructure, capacity building, marketing and research.
The Community Capacity Building component provides training support to non-profit organizations with a clear link to economic and business development. This includes Community Capacity Building module delivery and industry development sessions, based on four themes (strategy and planning, relationship building, organizational skills and management and co-operative development).
Under the Regional Development Program, financial assistance is in the form of a non-repayable contribution, normally to a maximum contribution of 50 per cent of total eligible costs. The client should normally contribute a minimum of ten per cent of the total project cost.
Under the Community Capacity Building component, financial assistance is in the form of a non-repayable contribution, normally to a maximum of $5,000 for regional organizations and $10,000 for provincial organizations per year.
Eligible applicants are non-profit organizations, excluding federal and provincial government departments and agencies. Applicants include industry associations, municipalities, public
educational institutions, and other non-profit groups including co-operatives and economic development organizations. Applicants must be incorporated.
Eligible Applicants
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How to applyFor program details and an application form, contact any office of the Department of Business, Tourism, Culture and Rural Development or visit www.gov.nl.ca/btcrd For assistance, call 1-800-563-2299 or the departmental office closest to you:
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How to apply
Labrador Region
Western Region
Central Region
Eastern Region
Avalon Region
Charlottetown ..........................949-0378Labrador City ...........................944-4046Happy Valley-Goose Bay .........896-2400Forteau ....................................931-2908
St. Anthony ..............................454-3508/3521Port Saunders ........................861-3004/3096Corner Brook ..........................637-2976Deer Lake ...............................635-2613Stephenville ............................643-2600/1228Port aux Basques ...................695-9871
Springdale ..............................673-3481Baie Verte ...............................532-4772Grand Falls-Windsor ...............292-4451St. Alban’s ...............................538-3796Gander .....................................256-1480
Clarenville ...............................466-4174/4175Marystown ..............................279-5533/5531
Carbonear .......................... 596-4109/4116Placentia ............................ 227-1350St. John’s ........................... 729-7104/7112Ferryland ............................ 432-3019
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