In addition to the material covered in this course, we put together this grid for you to take a look at with information about other loans that you can find in Canada:
Loans and Capital Investments
Entity
Program
Description
requirements
amount
other info
website
Canada Digital Adoption Program
Support for SMEs to adopt new technologies
The Boost your Business Technology Stream will offer support to small and medium Canadian-owned businesses (SMEs), such as small manufacturing and food processing operations, to adopt new technologies. Support for these businesses will be in the form of grants to offset the cost of retaining Digital Advisors who will develop digital adoption plans tailored to the business. The grant will cover 90% of the cost to develop the digital plan, up to 100,000) as well as a wage subsidy up to $7,300 for a youth placement.
Had annual revenues between 100,000,000 in either 2020, 2019 or 2018
The grant will cover 90% of the cost to develop the digital plan, up to $15,000.
N/A
https://www.ic.gc.ca/eic/site/152.nsf/eng/00013.html
Canada Small Business Financing Program
Loan guarantee for capital purchases
Access funds for land, buildings, leasehold improvements and purchases of new or used equipment.
Maximum annual revenues of $10 million
Maximum amount: 350K maximum for equipment and leasehold improvements
Registration fee: 2% of the loan (can be rolled into loan if within maximums permitted) Repayable Maximum variable rate: Lender’s prime +3% Maximum fixed rate: lender’s single family residential mortgage rate +3%
https://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/home
Futurpreneur Canada Start-Up Program
Financing for young entrepreneurs
Get a collateral-free loan of up to $60,000, along with 2 years of expert business mentoring to get your startup off the ground if you’re 18–39 years old.
Maximum amount: 40,000 from BDC (if needed) Application fee: $50
Futurpreneur: Canadian Imperial Bank of Commerce (CIBC) prime rate + 3.75% Business Development Bank of Canada (BDC): Floating base rate + 5%
WeBC
Loans for young women entrepreneurs in British Columbia
If you are a woman between the ages of 19 and 39, you could access a loan of up to $70,000 with flexible repayment options, as well as free, ongoing business advice from your personal business advisor.
Maximum: $70,000
EDC
Security guarantee for exporters
Get 100% coverage of bonds posted by your bank on your behalf. Free up your cash flow, issue letters of guarantee without putting up cash or credit to your financial institution as collateral.
Futurpreneur Canada
Loan for young professionals to develop a side business
If you’re a young professional (18 to 39 years old) with a full-time job, you can get up to $15,000 and mentoring to launch or grow a side business.
Are a Canadian entrepreneur between the ages of 18-39 Have a source of sustainable full-time income outside of your side business Agree to work with a mentor for up to two years Generate enough disposable income to service the loan repayment Do not intend to convert the side business to a full-time operation within the next 12 months
Maximum: $15,000
CIBC prime rate + 3% Maximum interest-only payments: 12 months Principal repayment in equal monthly instalments together with interest over remaining 3 years Maximum: 4 year term Loan management fee: 1% of total loan amount
Employee Share Ownership Plan
Investment capital for BC businesses
Raise capital by selling shares of your business to your employees, who in return receive a 20% tax credit for investing.
Venture Capital Corporation
Equity investments for BC businesses
Individuals and corporate investors can get a tax refund of 30 % when they invest in a registered British Columbia Venture Capital Corporation.
Protection against foreign exchange risk
Protection against foreign exchange risk
Your EDC-approved financial institution or foreign exchange service provider will receive a 100% risk transfer solution on eligible foreign exchange contracts of up to 3 years, without you having to post collateral as payment assurance. This frees up your cash flow to take on more business and protect your profit margins.
FinDev Canada Financing and Investment
Loans and investments for businesses operating in developing countries
Direct loans, loan guarantees, structured project financing and investments are available for companies operating in developing countries that bring sustainable social and economic benefits to local communities.
Minimum: $5,000,000
Maximum: $20,000,000
TACC Conventional Loan
Conventional business loans for Indigenous entrepreneurs in Coast Salish
Get up to $250,000 with a sliding scale interest rate and flexible amortization if you want to start or grow a business in the Coast Salish Territory.
Maximum: $250,000
This program will cover a maximum of 85% of eligible costs.
WeBC
Loans for British Columbia women entrepreneurs
Get expert advice, as well as a loan of up to $150,000 for your market-ready start-up, expansion project, or business purchases, with flexible repayment options.
Maximum: $150,000
Rise
Business loans for entrepreneurs
If you have experienced mental health and/or addiction challenges, you could get a low-interest loan up to $10,000 to launch or grow your small business and access resources to improve your business skills.
Are a motivated entrepreneur Self-identify as an individual who has experienced mental health and/or addiction challenges Are unable to access traditional bank financing for your small business Are not in active bankruptcy, behind on child-support payments or government taxes Reside in Canada Are a Canadian citizen or Permanent Resident
Maximum: 4,000 Average 3-year loan term Defer repayments for 30 days
Get assistance in reviewing your business plan Access resources to help improve your business skills and financial management Connect with a mentor that will provide you with their extensive experience and business knowledge
EDC
Financing for large-scale international infrastructure projects
Get financing for challenging projects, with solutions specifically designed for limited-use financing of long-term capital-intensive projects. Get step-by-step advice, market insights and expertise across a range of sectors.
Young Entrepreneur Loan
Loans for youth-led food, beverage and agri-businesses
If you are under 40 years old, get a loan of up to $1.5 million to launch a new business or improve your existing operation.
Agribusiness Financing
Financial support for agribusinesses
Get a repayable loan to help minimize your operating costs, or to diversify or expand your business, as well as specialized planning and operations support from experts.
Young Farmers
Loans for farmers under 40 years old
Get customized financing for your agriculture business with the Starter Loan, and up to $1.5 million with the Young Farmer Loan. Attend free events and webinars to sharpen your farm management practices.
If you can’t find one that covers all your needs, we invite you to take a look at Concierge Services. This service will have you answer several questions and make suggestions for funding opportunities.
Suggested Prompts
How can small businesses effectively choose the most suitable loan option from the various programs available in Canada?
What are the potential risks or drawbacks associated with each of these loan programs, and how can entrepreneurs mitigate them?
In what ways can leveraging government-backed loans and grants impact a business’s long-term growth and financial stability?
Module Comments 0 Analytics Settings
Introduction & Onboarding (Pre-Program)
MODULE
Welcome to Maple
MODULE
What is Launch?
MODULE
The Launch Team
MODULE
Important: Book Your Onboarding and Expectations Calls
Maple - Resources
MODULE
What to Expect
RESOURCE
Join Launch’s Slack Community
RESOURCE
Disco
RESOURCE
LaunchHub
RESOURCE
LaunchPad Calendar
MODULE
Topical Modules
MODULE
Payment Support
RESOURCE
Main Start-up Visa Program Website
RESOURCE
Get Connected to Our Network
Maple - Timeline & Catch Up Calls
MODULE
Bespoke Timeline
MODULE
Office Hours
MODULE
Book Your Milestones Planning Session
MODULE
Immigration Module Progress Updates
MODULE
Company Catchup and Resources
Welcome to Maple
MODULE
Reminder: Book Your Onboarding Call
MODULE
Summary
The Startup Visa Immigration Process
MODULE
Immigration - Workshop & Office Hour
MODULE
Immigration Webinar Slides
MODULE
Hire an Immigration Lawyer
Incorporation Process
MODULE
Incorporation - Workshop & Office Hour
MODULE
Incorporation Webinar Slides
MODULE
Hire an Incorporation Lawyer
Maple - Deliverables
MODULE
Immigration Module Progress Update
MODULE
Maple Deliverables
MODULE
Important: Monthly Company Update
Deliverables: Company & Incorporation
DELIVERABLE
Company Deliverable: Company Description
DELIVERABLE
Immigration Deliverable: Choice of Immigration Path
DELIVERABLE
Immigration Medical Exam
DELIVERABLE
Immigration Language Test
DELIVERABLE
Company Deliverable: Lean Canvas
DELIVERABLE
Incorporation Deliverable: Incorporation Certificate
DELIVERABLE
Company Deliverable: Member Chart
DELIVERABLE
Company Deliverable: Capitalization Table
DELIVERABLE
Company Deliverable: Pitch Deck
DELIVERABLE
Immigration Deliverable: Proof of Funds
MODULE
Company Deliverable: Due Diligence
DELIVERABLE
Immigration Deliverable: IMM Form 5475
MODULE
Thanks for Submitting Your Deliverables!
Deliverables Reminder: Monthly Company Updates
MODULE
Recurring Deliverable: Monthly Company Update
Deliverables: Immigration - Letter of Support, Permanent Residency and Work Permit
DELIVERABLE
Final Documents Submission
MODULE
Company Immigration Catchup: Permanent Residency Ready
MODULE
Letter of Support Request
DELIVERABLE
Permanent Residency and Work Permit Submission Dates
Resources
MODULE
Catchup, modules and programming
Module: Lifestyle Module
MODULE
Lifestyle Module
MODULE
Workshop: Housing and Real Estate
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Housing: Choosing Where to Live in Vancouver
MODULE
Housing: Choosing Where to Live Around Vancouver
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Housing: Accommodation and Rental
MODULE
Bank Account: Opening a Bank Account in Canada
MODULE
Education: Childcare
MODULE
Education: Schooling System in Canada
MODULE
Education: Types of Education Available
MODULE
Transportation: Drivers Licence
MODULE
Transportation: Ride-Sharing
MODULE
Transportation: Public Transportation
MODULE
Government Support: Spouses
MODULE
Government Support: Dependents and Children
MODULE
Health Care: The Health Care System in British Columbia
MODULE
Health Care: BC Services Card
MODULE
Health Care: Medical Services Plan (MSP)
MODULE
Health Care: Pharmacare
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Employment for Spouses and Dependents: Workshop with Pat Chaisang of Isempower
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Employment for Spouses and Dependents: Resume and Interviews
MODULE
Employment for Spouses and Dependents: Jobs Portal
MODULE
Employment for Spouses and Dependents: CO-OP
MODULE
Employment for Spouses and Dependents: Transferring Credentials to Canadian Employment
MODULE
Employment for Spouses and Dependents: Registering for SIN Number
MODULE
Lifestyle: Community
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Vancouver Festivals
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Lifestyle: Telecommunication and Internet
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Lifestyle: Groceries and General Store
Module: Non-Dilutive Sources of Funding in Canada
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Introduction: What is Non Dilutive Funding?
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Introduction: Resources
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Loans Available in Canada: Resources
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Loans Available in Canada: RBCx
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Loans Available in Canada: TIMIA Capital
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Loans Available in Canada: Clear.Co
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Loans Available in Canada: Canada Small Business Financing Program (CSBFP)
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Loans Available in Canada: WeBC - Loans for Young Women Entrepreneurs in British Columbia
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Loans Available in Canada: Other Loans (list)
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BDC: Introduction
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BDC: Technology Financing
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BDC: Small Business Loan
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BDC: Newcomer Entrepreneur
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BDC: Other Services
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Tax Credits: Scientific Research and Experimental Development (SR&ED)
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Tax Credits: Interactive Digital Media Tax Credit (IDMTC)
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Tax Credits: Other Tax Credits
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Talent: Innovate BC
MODULE
Talent: MITACs
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Talent: Student Work Placement Program
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Grants: NRC IRAP
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Grants: ISED
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Grants: Canada Digital Adoption Program
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Grants: CanExport SMEs
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Grants: CanExport Innovation
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Other Sources Available in Canada: Digital Technology Supercluster
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Other Sources Available in Canada: BC Government Procurement Concierge Program
Module: Fundraising in North America
Module: Hiring in Canada
Module: Banking and Accounting in Canada
Module: Financial Literacy
Additional Resources
Maple - Program Wrap Up
Module: Lifestyle Module for Ontario
Lifestyle Module for Alberta (Calgary)