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A business grant can help fund growth without adding a conventional monthly loan payment. Depending on the business, location and project, funding may be available through grants, subsidies, rebates, tax credits, wage support or interest-free government contributions.
Green Light Money Services Inc. helps businesses identify realistic opportunities, understand eligibility requirements and build a clear application strategy. We do not simply search for a program with a similar name. We examine whether the business, project, timing and expenses actually fit the program.
Most programs are designed to achieve a specific economic or public objective, such as:
The strongest applications clearly connect the business project to the program’s objectives. We recommend adjustments when needed and match your business to the right grant and present it in the right way for assessment.
Typical interest cost: 0%. Repayment: Not generally required when all program conditions are met.
A grant may reimburse part of an eligible business expense or contribute toward an approved project.
The business commonly needs to contribute part of the total cost using its own capital or another confirmed financing source.
Typical interest cost: 0%.
A subsidy may cover part of an eligible cost, such as employee wages, training, energy improvements or customer services.
Some subsidies are paid directly. Others reimburse expenses after the business completes approved work and submits a claim.
Interest rate: 0%. Principal repayment: Required.
Interest-free repayable contributions can provide substantial capital without conventional interest charges.
Certain Business Scale-up and Productivity programs offered through Canada's regional development agencies provide interest-free repayable contributions and may cover up to 50% of eligible project costs, depending on the region and program intake.
Tax incentives may reduce the company's tax payable or create a refundable amount after eligible expenses are incurred.
Potential areas include: research and development, digital media and technology, apprenticeships, investment and manufacturing, clean technology, accessibility, and regional activities.
Eligible employers may receive support for hiring or training employees.
Ontario's Job Grant, for example, is designed to help eligible employers obtain funding for third-party training for existing employees or new hires.
A rebate may reduce the net cost of purchasing eligible equipment or completing an approved improvement.
Common areas include: energy-efficient equipment, commercial lighting, heating and cooling systems, manufacturing upgrades, home renovation services, electric or clean technology, and accessibility improvements.
A grant strategy can also help your business generate sales.
A contractor, equipment supplier, training provider or technology company may have customers that qualify for rebates, subsidies or government-supported financing.
By helping customers understand these opportunities, the business can make its service more affordable and improve conversion.
Applications may be unsuccessful when:
Our goal is to assess these issues before the company relies on the expected funding.
The questions we hear most from business owners before their first application.
Approved grants normally do not require repayment when the recipient follows the program agreement. However, the business may need to contribute part of the project cost and meet reporting requirements.
Some programs support start-ups, while others require an established operating history, revenue or completed financial statements.
Sometimes, but many programs cover only a percentage of eligible costs. The remaining amount must come from the business or another funding source.
Not unless the program permits it. Beginning work, signing contracts or purchasing equipment too early can make expenses ineligible.
Tell us what your business plans to accomplish, how much the project will cost and when you intend to begin.
Get matched with grants and loans — advisor-reviewed report in 48 hours.
Get matched with grants and loans — advisor-reviewed report in 48 hours.
