Comments on Funding:
Funding is up to 50% of approved total eligible project costs up to $25,000 per SME.
The applicant is required to provide a 50% project cost contribution to SSMIC amounting to 50% of approved total eligible project costs, including any HST applicable. Contribution must be received before any payment is advanced to approved project contractors.
Eligible SMEs targeted under the program could include, but are not limited to those which fall under the following industry sector categories:
A business who has previously received funding from BTIF may potentially be eligible for funding under the following conditions:
submit a completed Client Intake Form (for new and inactive clients (not active more than 1 year) only) and supporting documents;
provide a minimum of two quotes from proposed vendors being targeted prior to any project related work being started.
Approved BTIF projects must be completed within four (4) months (or approved project time) from the approval date. Work undertaken prior to the date the application is received is not eligible for the program. An invoice for the project work must be submitted to SSMIC prior to this date for payment approval.
The Applicant agrees to:
- complete an exit survey to assist in measuring the initial project impact to their business and improve on the delivery of the program.
- provide a brief feedback/testimonial (250-400 words) on the benefits and results of the program upon completion of the Project for mandatory reporting to FedNor. The Applicant agrees to complete a follow up survey (normally 6-12 months after project completion) to assist in further measuring the project impact to their business.
Other Things to Note:
The program is now open for submission and SSMIC process applications on a first come, first served basis.