Comments on Funding:
Funding will take the form of interest-free repayable contributions for up to 50% of authorized costs.
Eligible not-for profit organizations could receive non-repayable contributions for up to 90% of authorized costs.
Project contribution amounts would not normally exceed $10 million.
Certain costs may be eligible on a retroactive basis up to 12 months before the receipt of a project application, but no earlier than April 19, 2021.
Under the fund, Canada’s regional development agencies (RDAs) may contribute up to 100% of eligible project costs for projects with Indigenous clients.
Indigenous-led organizations and/or businesses are strongly encouraged to apply.
Applicants might be asked to provide:
- a completed application form. The same form is used for applicants applying to either the Jobs and Growth Fund or the Aerospace Regional Recovery Initiative. Each program has a separate Supplemental Annex for applicants to address program-specific information requirements.
- historical financial statements for the last two (2) fiscal years and the most recent interim financial statement;
- organization’s articles of incorporation, and/or Partnership Agreement, Letters Patent, and all other required supporting documentation.
Other Things to Note:
The initiative, valued at $700 million nationally over three years, is being delivered by Canada’s regional development agencies (RDAs) and includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.