Type of Program:
This program provides term loans of up to $2.5M with no fees for businesses in Canadian agriculture and food. These funds can be used for working capital and to modify production due to the impacts of COVID-19.
Comments on Funding:
Funding will take the form of term loans up to $2.5M, with no fees and an 18-month interest-only option available over a 10-year amortization.
When It Ends:
Applicants must contact their local local office or the Customer Service Centre at 1-888-332-3301 for more information.
Applicants must submit their project proposals first to the Academic institution, and after approval on Mitacs's online application system, RAP.
- 1generate a net worth statement,
- 2collect past three years of tax returns or accountant-prepared financial statements,
- 3gather recent pay stubs or written employer verification for off-farm income (if applicable),
- 4bring government-issued photo ID (drivers license, passport),
- 5collect shareholder agreements (if any),
- 6assemble copies of existing operating loan agreements (if applicable),
- 7build a business and marketing plan,
- 8prepare and maintain a cash flow budget.
COVID Related Measures:
COVID-19 support program
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe’s background and how he can help your business.