Peterborough hosts a wide range of industries, including food processing, automotive supplies, electronics, aerospace, and life sciences/biotechnology.
In this complete guide to Peterborough small business grants, we cover grants, loans, entrepreneurship programs, and more, to get you started on your Peterborough business (or grow your existing business).
City of Peterborough Mandate
The City of Peterborough’s mandate is to make Peterborough a thriving community that’s attracting growth and investment through the energy of the people in its community and its unique location.
City of Peterborough Priorities
The City of Peterborough’s priorities include:
- Providing a wide range of services that reflect the needs, values and vision of the community they serve.
- Investing in Peterborough’s parks, recreation and culture for the betterment of its citizens and its community, the growth of its economy and the protection of the environment.
- Offering a balanced life-style that includes a growing community of entrepreneurs, a hip downtown, and a community calendar filled with great events
- Supporting all investments in the city, from home renovations, new commercial or residential developments, to starting and growing a business.
You can learn about City of Peterborough’s priorities for recreation, parks, arenas and culture reading Vision 2025. A 10-Year Strategic Plan for Recreation, Parks, Arenas and Culture.
What Can Peterborough Small Business Grants Be Used For?
Peterborough Small business grants can be used to pay for many aspects of starting or running a business. Here are some of the uses that are covered by programs in our grants database:
See the section below with a complete list of grants available for Peterborough small businesses.
Am I Eligible for a Peterborough Small Business Grant? Common Eligibility Criteria
Two of the most common questions we get asked at Ontario Business Grants are “Am I eligible?” and “How do I qualify?”.
We analyzed the Peterborough small business grants in our grants database, and these are the most common qualifications we identified:
Note: these are just the most common eligibility criteria.
Best Peterborough Small Business Grants, Loans & More
While there are lots of good programs available, below we highlight some of the best grants, loans, investment & more for Peterborough small businesses:
Best Government Grants for Peterborough Small Businesses
City of Peterborough – Facade Improvement Grant Program
The Facade Improvement Grant Program provides a grant to property owners who rehabilitate and improve the facades (including signs) of buildings within the Central Area Community Improvement Project Area. Facades may include rear facing facades that have high public visibility.
City of Peterborough – Central Area Revitalization (Tax Increment Based) Grant Program
This program would provide a grant to property owners who undertake the remediation, rehabilitation, restoration, or redevelopment of their properties that results in a reassessment of their properties.
City of Peterborough – Municipal Incentive Grant Program
The Municipal Incentive Grant Program waives planning application fees (e.g. zoning by law amendments, minor variances, severances, site plan control, etc.) and refund building permit fees as an additional incentive to spur construction activity in the Central Area.
City of Peterborough – Central Area Residential Conversion and Intensification Grant Program
If you’re a property owner in the Central Area Community Improvement Project Area, you can apply for the Central Area Residential Conversion and Intensification Grant Program by submitting a written application to the City and receiving written approval before beginning any work related to the grant.
This program aims to encourage property owners to convert vacant commercial space into new residential units, particularly on upper storeys of buildings in the Central Area. You may receive a grant if you rehabilitate, redevelop, or convert your property for residential purposes, with the maximum amount calculated based on $10 per square foot of habitable floor space that you create.
City of Peterborough – Affordable Housing Tax Increment Grant Program
As a property owner, you can receive the Affordable Housing Tax Increment Grant on an annual basis. This program will reimburse you for a portion of the municipal property tax increase caused by an increase in assessment. The program will be in effect for a period of 9 years. During the first 5 years, you will receive a grant equivalent to 100% of the municipal tax increase. From years 6 to 9, you will gradually be responsible for paying the full amount of taxes.
Independent Electricity System Operator (IESO) – Save on Energy – Retrofit Program
Get even more money to make your business more energy efficient and save you money with this program from IESO’s Save on Energy.
This one has 2 options: the prescriptive track and the comprehensive track. The prescriptive is your best bet for quick projects and upgrades such as improved lighting, though the minimum incentive amount is $500. The comprehensive track is a better fit for larger, more comprehensive projects with lots of components. This one will get you an incentive of up to 50% of project costs.
Chances are you qualify since most buildings are eligible: commercial, industrial, food services, agricultural, and more.
Independent Electricity System Operator (IESO) – Save on Energy – Energy Performance Program
Sign up to continually improve your energy usage and you could be rewarded for it with this program.
As long as you’re not an industrial or manufacturing business, you could receive a pay-for-performance financial incentive, plus a modelling incentive of $1,500 for each enrolled building, up to a maximum of $15,000 for 10 approved buildings.
You get to choose which improvements and investments to make to achieve your improved energy efficiency, and your payments end up equal to 20% of the annual baseline electricity consumption of your building(s).
Independent Electricity System Operator (IESO) – Save on Energy – Small Business Program
The Save on Energy Small Business program is designed to help small businesses across Ontario make equipment improvements to reduce their energy consumption, at no cost. Leveraging the success of the former Small Business Lighting program, this new and improved program offers small businesses direct-install incentives on an expanded range of equipment – both lighting and non-lighting.
Independent Electricity System Operator (IESO) – Save on Energy – Industrial Energy Efficiency Program (IEEP)
IESO’s Save on Energy Industrial Energy Efficiency Program (IEEP) supports industrial customers across Ontario in improving their industrial processes and implementing system optimization projects. The program offers organizations up to $5 million in financial incentives for each large, complex industrial energy-efficiency project accepted into the program.
Best Municipal Government Fees and Tax Reliefs for Peterborough Small Businesses
Heritage Property Tax Relief
If you own designated heritage properties in the Central Area, you have the opportunity to apply for the Heritage Property Tax Relief program. If you qualify, you may receive tax relief for commercial properties amounting to 20%.
City of Peterborough – Affordable Housing CIP Programs
As a construction project developer, you can help address the high proportion of renter households in core housing need in Peterborough by including affordable housing units in your project.
The City of Peterborough offers the Municipal Incentive Program and Development Charges Program for eligible developers interested in building affordable housing within the city. By participating in these programs, you can assist the city in addressing this issue.
The Affordable Housing Municipal Incentive Program aims to waive various municipal fees for affordable housing projects. These fees include planning application fees, parkland fees, and cash-in-lieu of parking fees. Similarly, the Affordable Housing Development Charges Program aims to waive the payment of development charges for any new affordable housing units (subject to available funding).
Best Non-profit Loans for Peterborough Small Businesses
Fondation Franco-Ontarienne – Micro-credit Funds
With support from the Federal Economic Development Agency for Southern Ontario and in partnership with the Prescott-Russell Community Development Corporation (SDCPR), the Franco-Ontarian Foundation (Foundation) supports Francophone entrepreneurs girls from Southern Ontario (Windsor to Hawkesbury). The micro-credit program provides borrowers with repayable financial assistance, offered in the form of loans.
Best Non-profit Investment for Peterborough Small Businesses
Peterborough Region Angel Network (PRAN) – Investment
The Peterborough Region Angel Network (PRAN) have monthly meetings in the downtown core of Peterborough, where entrepreneur startups present their investor’s pitch at a maximum of 20 minutes, following a Q&A period.
Best Non-profit Competition for Peterborough Small Businesses
Innovation Cluster – Pitch IT!
The Innovation Cluster’s FastStart student entrepreneurship program is excited to present Pitch IT! – a student entrepreneurial competition for students at Trent University and Fleming College.
Best In-kind Support Programs for Peterborough Entrepreneurs
Innovation Cluster – 30-Day Cube Bootcamp
The 30-Day Cube Bootcamp is a 4-week long program new clients must complete to equip their company with the necessary tools to succeed in the incubator. The 30-day Cube Bootcamp is divided into four workshop themes, all designed to give participants the tools they need to establish, start and grow your company.
Innovation Cluster – The Cube Program
The Cube is the region’s only full service incubator designed to put innovative entrepreneurs on the path to success. They help startups grow, raise, scale and more!
Innovation Cluster – Women Breaking Barriers
Women Breaking Barriers is the first virtual accelerator program that promotes women pursuing innovative careers through science, technology, engineering, mathematics (STEM) and social innovation in Peterborough and the Kawarthas OR interested in relocating the business to Peterborough and the Kawarthas region.
Innovation Cluster – FastStart
FastStart is designed to increase entrepreneurship skills and awareness and help innovative, young entrepreneurs create solid business plans that take their products and services to market – quickly and successfully. As a FastStarter, one will receive exclusive access to unique workshops and programming through the Innovation Cluster. Innovation Cluster hosts monthly events, workshops, bootcamps, startup contests and more!