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Government financing

Government departments and agencies provide financing such as grants and contributions, subsidies and loan guarantees.

Government grants and contributions

Grants and contributions are awards of financial assistance for your business that must be used for specific purposes.

Are there government grants and contributions available for my business? Maybe, but they are few and far between. Those that are available have very specific criteria and are intended for very specific clients, often in a specific industry sector or specific demographic group.

Do grants and contributions need to be repaid? Grants do not need to be repaid, nor do most contributions, as long as they are used for the purpose specified in the agreement. In some cases, though, a contribution may need to be repaid; so you should review the terms and conditions carefully. When a contribution does need to be repaid, there is generally no interest charged.

Other types of government funding

In addition to the small number of grants and contributions, there are many other government financing solutions for which your business may be eligible. These include:

Loan guarantees: In some instances, the government offers loan guarantees to businesses that might otherwise be turned down for a loan. There is less risk for the lender if the government provides a loan guarantee, which makes the financial institution more willing to lend to you.

Wage subsidies: You may be able to get part of an employee's salary paid if you hire people with certain characteristics, including:

• Student interns, graduates or other youth
• Unemployed individuals
• People with disabilities
• Aboriginal persons

Tax refunds and credits: You may be able to get a credit towards your income tax or a refund of your taxes for certain investments that your business makes.

Low interest or no-interest loans: Some government departments and crown corporations offer loans to businesses at a lower interest rate than private sector lenders. Businesses that do not qualify for commercial credit may sometimes qualify for these loan programs.

Other: Your business could be eligible for a variety of other unique financing solutions.

Browse government financing by type

• Grants, contributions and financial assistance
  
  http://www.canadabusiness.ca/eng/guide/1136/
  Explore opportunities to receive public funds to help springboard your business venture. There are programs that apply to businesses in all provinces and territories, and others that apply only to businesses in your region.
• Loans and cash advances
  
  http://www.canadabusiness.ca/eng/guide/1139/
  Examine various borrowing possibilities for your new or existing business.
• Loan guarantees
  
  http://www.canadabusiness.ca/eng/guide/1140/
  Having trouble securing a loan for your business? A government-backed loan guarantee could help you attract creditors.
• Tax refunds and credits
  
  http://www.canadabusiness.ca/eng/guide/1138/
  Looking for more return on your business expenditures? Browse potential tax benefits that can help reduce overhead.
• Wage subsidies
  
  http://www.canadabusiness.ca/eng/guide/1137/
  Are high wage expectations making you reluctant to put up that Help Wanted sign? A wage subsidy program can put the perfect employee within your reach.
• Equity investments
  
  http://www.canadabusiness.ca/eng/guide/1141/
  Searching for a long-term financial solution for your business? An equity investor may be willing to bank on your potential.

Find government financing

Use this search tool to find out what government programs are available to finance your business.