What is a grant?
A grant is a sum of money given to you or your business which does not have to be repaid. Most grants are conditional, meaning that the funds need to be used for the purpose that they were given. Many times this purpose is broadly defined. Grants can be used to purchase equipment, real estate, to advertise or to conduct a marketing/feasibility study as well as many other purposes.
What is a government loan and how does it differ from a conventional loan?
A government loan must be repaid just like any other loan. These loans are often given to individuals and businesses that would not qualify for a loan through a conventional financial institution. Government loans often have very low interest rates, or a period of time during which no interest is calculated. These loans often offer repayment terms over a long period of time. The government sometimes provides loans directly, and sometimes provides a loan guarantee to a conventional financial institution. Both types of loans can offer the same beneficial terms.
What is a tax refund or tax credit?
Tax refunds and tax credits provide funding for your businesses start-up and expansion by deducting certain expenses from your tax bill. Your business may apply for tax refunds for funds already spent, or receive tax credits on future projects. These tax breaks can increase your businesses cash flow allowing faster development then would otherwise be possible.
What is insurance against business risk?
The government can provide insurance for your company to cover risk associated with a specific goal or project. The premiums are usually low or negligible. If your company is unable to pay a loan that was linked to this insurance, your payments will be covered. This guarantee may allow you to borrow money that you otherwise would not qualify for.
Why would the government just “give” money away?
The government has always helped businesses. The government wants businesses to grow, hire people, and contribute to the growth of the economy. The more successful Canadian businesses are, the more successful the Canadian economy is. Billions of dollars are spent each year to support this in the form of grants, loans and many other programs. The government wants your business to succeed!
Why would I need your help, couldn’t I do this on my own, or hire a consultant?
We believe that the time involved in researching the hundreds of programs, and compiling the information will take more time and resources than many business people have available. Of course you could hire a financial consultant who could help you, but you must be prepared to spend thousands of dollars in fees without guarantee of success. Our program provides the information you need to achieve your goals.
How long will it take for me to receive assistance from the government?
Assistance can arrive in a few weeks to a year. Remember, that some programs have application deadlines, so if you miss it, you’ll have to wait until the following year to apply. The delay depends on the program(s) that you apply for. The sooner you apply, the sooner you can be accepted and start to receive funding!
How many grants can I apply for?
There is no limit to the number of grants that you can apply for. You should apply to as many programs as possible. This way you will maximize your chances of being accepted by at least one program, and possibly more. We can help you decide which programs you are most qualified for.
How do I apply for a grant?
Every grant program has a different application process. Many can seem overwhelming and complicated to the first time applicant. If you call us we can help you see clearly through any government red tape to the results you want.
How much does it cost to apply? Is there a credit requirement?
Applying for grants is free! We encourage applying as often and to as many programs as possible. Your credit worthiness is not an issue for many programs. In fact many programs exist specifically for those with little to no credit. Government funding is often an alternative to conventional financing. You can even have bad credit or a bankruptcy and still be eligible for many programs.