Headline maximumC$1.15 million Canada Small Business Financing Program, maximum loan
Open to a solo founder2Loan, Tax relief
Application windowOpen for applicationsThe financing program is available through lenders and has no application rounds. SR&ED is claimed through the Canada Revenue Agency.
Why the headline figure is out of reach: It is a loan from a bank or credit union, not a grant, and it must be repaid. The lender alone decides whether to approve it.
What a solo founder can apply for in these programsAmounts and conditions are quoted from the official pages
Loan
Canada Small Business Financing Program
Term loans up to C$1,000,000 and lines of credit up to C$150,000
For small businesses or start-ups operating in Canada with gross annual revenues of C$10 million or less; farming businesses are not eligible. Of a term loan, no more than C$500,000 can go to equipment and leasehold improvements, and of that no more than C$150,000 to intangible assets and working capital. Source
Tax relief
SR&ED tax incentives
Investment tax credit at a basic rate of 15%
Open to corporations, individuals, trusts and partnerships that carry out scientific research and experimental development in Canada. Some corporations can claim an enhanced rate of 35%, and some businesses can earn a refundable credit. Source
How to applyAs stated on the official pages
Loan: discuss your business needs with a financial officer at any bank, caisse populaire or credit union in Canada. The lender makes the decision and registers the loan with Innovation, Science and Economic Development Canada.
Eligibility conditions
The financing program is delivered by banks, caisses populaires and credit unions, which are solely responsible for approving the loan.
SR&ED applies only to work that qualifies as scientific research and experimental development.
Only two programs are listed. We could not read the official pages for other federal programs on the day we checked.
Applications and source
Status
The financing program is available through lenders and has no application rounds. SR&ED is claimed through the Canada Revenue Agency.
Agency
Your financial institution for the loan program, and the Canada Revenue Agency for SR&ED.