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Funding Opportunities

Financing a domestic operation is a difficult task for many small to medium-sized business owners, particularly with the added stress of exporting.  As such, we have gathered a comprehensive list of top sources of export financing to support you through this process.

 For general information about starting or financing a small business please refer to these recommended sites.

Sources of Export Financing

Canada Business provides everything from advice to accessing export-related financing services through to products that help mitigate foreign risk.

Women's Enterprise Initiative Loan Program

The Women's Enterprise Initiative (WEI) is a not-for profit program launched by Western Economic Diversification Canada in an effort to facilitate the dismantling of barriers facing women entrepreneurs. This initiative provides business information and services (including business loans), advisory services and training optionshas offices to women business owners in each of the four western provinces.

Eligibility Criteria

To access the WEI Loan Program, you must be:

  • a legal entity 50% or more owned and controlled by a woman or women;
  • operating or about to operate in one of the four western provinces;
  • able to submit a business plan that outlines a viable business (WEI will counsel you on how to develop a business plan);
  • seeking debt financing up to a maximum of $100 000; and
  • seeking financing for start-up, expansion or the purchase of an existing business.

Eligible Areas

British Columbia, Alberta, Saskatchewan and Manitoba

Application Process

Each province has established its own lending criteria and loan program details. For more information, contact the WEI office in your province.

Information: WD Toll-Free Number (accessible in Western Canada only) 1-888-338-WEST (9378)

Web site: http://www.wd.gc.ca/eng/274.asp

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Canada Economic Development For Quebec Regions (CED-DEC)

This program is aimed at: helping enterprises improve their performance, become more competitive and engage in more innovation to foster their sustainable development; supporting the establishment of conditions that will facilitate the transfer of technology and research outputs to enterprises; and creating the right conditions to attract foreign investment.

Eligibility Criteria

Includes: the extent to which the project helps the program achieve its desired outcomes; its conformity with the Agency's regional priorities; the incentive nature of the assistance and a demonstrated financial need based on existing sources of financing; demonstrable evidence that the project meets a recognized need in the community and will significantly contribute to regional economic development; the management capacity of the promoter; the viability of the enterprise or organization; and the level of risk involved.

Eligible Areas

Province of Quebec

Application Process

Must submit a written application that includes: a description of the objectives sought by the project and of how it will help achieve the desired outcomes of the program; a profile of the enterprise or organization, of its administrators and of the team members assigned to the project; a business plan and financial statements; a description of how the project fits in with local or regional priorities; information regarding any and all federal, provincial or municipal funding received or expected to be received for the project; information on any and all commitments made in relation to the project; and the results of the last project carried out with Agency assistance, if applicable.

Information: Tel: 1-800-322-4636 or 514-283-6412

Web site:  www.dec-ced.gc.ca

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Women in Business Initiative Atlantic Canada Opportunities Agency (ACOA)

Non-profit business organizations receive funding under the Atlantic Canada Opportunities Agency's (ACOA) Women in Business Initiative (WBI) to offer women business owners the resources they need to grow their businesses and compete.

The women in business counsellors across Atlantic Canada help women business owners to:

  • access the right business advice, information and support;
  • improve their skills and business network;
  • improve their access to financing;
  • obtain expert advice; and
  • identify ways to enhance their innovation or export capacity.

Eligibility Criteria

To be eligible to access these services, normally the woman or women must have 51% ownership and operating control of the business. The business must be located in Atlantic Canada.

Eligible Area

Atlantic Canada

Eligible Activities

All sectors are eligible.

Summary

ACOA, through the WBI, provides financial support to non-profit business organizations who offer business support to women entrepreneurs in Atlantic Canada helping them develop their businesses and increase their competitiveness.

Information:
ACOA New Brunswick 1-800-561-4030
ACOA Newfoundland and Labrador 1-800-668-1010
ACOA Nova Scotia 1-800-565-1228
ACOA Prince Edward Island 1-800-871-2596
Enterprise Cape Breton Corporation 1-800-705-3926

Web Site: Atlantic Canada Opportunities Agency (ACOA)

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Export Development Canada (EDC)

EDC provides trade finance and insurance services that help Canadian exporters and investors of all sizes do business in some 200 global markets. EDC is a Crown corporation that operates as a commercial financial institution.

Export Programs/Services:

  • Accounts receivable insurance, which covers up to 90% of an exporter's loss when buyers don't pay and can be used as collateral at the exporter's bank to increase working capital;

  • Loans and lines of credit to foreign buyers of Canadian goods and services, which turn credit sales into cash sales and help Canadian exporters offer competitive payment terms to foreign buyers;

  • Contract bonding and guarantees, streamlined financing solutions for smaller businesses and specialized trade finance services.

Financing Solutions for Canadian Companies:

Information: 1-866-283-2957

Web site: www.edc.ca

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Business Development Bank of Canada (BDC)

The BDC is a financial institution wholly owned by the Government of Canada. BDC plays a leadership role in delivering financial and consulting services to Canadian small business, with a particular focus on the technology and export sectors of the economy.

Export Programs/Services:

  • Market Xpansion Loan can help Canadian small and medium-sized enterprises finance the expansion of their domestic or international markets. The loan, for up to $50,000, can help Canadian firms participate in trade shows and conduct business development overseas; develop local or international contacts and distribution networks; develop export plans; develop e-commerce; produce and implement a marketing plan; purchase additional inventory to expand and export to new markets.

  • The BDC provides a wide range of term loans with flexible repayment conditions that complement products available from other institutions. Financial products offered to exporters include Innovation Financing and Working Capital for Exporters.

  • BDC Investment Group offers venture capital and subordinate financing to meet the special needs of growth-oriented businesses. The Bank provides venture capital especially to seed or startup high-technology companies that have a clear vision of their market, excellent growth potential and are export-oriented. BDC Investment Group also offers fast-growing and more mature small businesses subordinate financing above $250,000, which is a unique type of quasi-equity lending.

  • BDC Consulting Group offers small business entrepreneurs affordable, customized and effective solutions to enhance their management skills. It also helps entrepreneurs assess, plan and implement winning strategies, especially in the areas of growth, quality, export and e-business.

Information: 1-877-BDC-BANX (232-2269)

Web site: www.bdc.ca

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National Research Council Industrial Research Assistance Program
(NRC-IRAP)

IRAP provides a range of both technical and business oriented advisory services along with potential financial support to growth-oriented Canadian small and medium-sized enterprises.

Export Programs/Services:

  • Provides non-repayable contributions to Canadian SMEs interested in growing by using technology to commercialize services, products and processes in Canadian and international markets.

  • Provides mentoring support and invests on a cost-shared basis for research and pre-competitive development technical projects, upon assessment of a project and firm by a team of Industrial Technology Advisors.

  • NRC-IRAP's partner organizations also receive contributions to provide technical and research assistance to Canadian SMEs.

Information: 1-877-994-4727

Web site: www.irap-pari.nrc-cnrc.gc.ca

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Status of Women Canada Women's Program

The Women's Program provides financial and professional assistance to organizations to carry out projects at the local, regional and national levels in order to improve the status of women in key areas, such as women's economic status and violence against women and girls.

Eligibility Criteria:

  • Incorporated not-for-profit* and for-profit Canadian organizations.
  • To be eligible for Women's Program funding, an organization's mandate and objectives must reflect:
    • Section 15 of the Canadian Charter of Rights and Freedoms; and
    • A democratic structure and responsible governance.

Information:
SWC Alberta: 780-495-3839
SWC British Columbia: 780-495-3839
SWC Manitoba: 780-495-3839
SWC New Brunswick: 506-852-3644
SWC Newfoundland and Labrador: 506-851-3644
SWC Northwest Terrirtories: 780-495-3839
SWC Nova Scotia: 506-851-3644
SWC Nunavut: 514-283-3449
SWC Ontario: 613-995-3995
SWC Prince Edward Island: 506-851-3644
SWC Quebec: 514-2/83-3449
SWC Saskatchewan: 780-495-3839
SWC Yukon: 780-495-3839
SWC National Office: 613-995-7835

Web site: www.swc-cfc.gc.ca/fun-fin/wpf-fpf/index-eng.html

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Canada Small Business Financing Program

The Canada Small Business Financing Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. Under the Program, a small business must apply for a loan at a financial institution (bank, credit union or caisse populaire) of its choice. The Program's objectives are to streamline loan administration, improve its ability to achieve cost recovery and to extend financing that would otherwise have been unavailable to small-and medium-size enterprises. If the loan is granted by the financial institution, the federal government will reimburse 85 percent of the lender's losses in the event of default.

Eligibility:

  • business carried on in Canada;
  • its purpose is for gain or profit, and
  • for an existing business: the estimated gross annual revenues generated from all the operations within the small business of the borrower must not exceed $5 000 000 for the business' fiscal year during which the CSBF loan is approved, or
  • for a new business: the estimated annual gross revenues generated from all the operations within the small business of the borrower must not be expected, at the time the CSBF loan is approved, to exceed $5 000 000 during the first 52 weeks of operation.

Information: Industry Canada, Tel: 613-947-7466; Fax: 613-954-6436

Website: http://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/home 

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General Business Financing Sites

Industry Canada - Financing

Industry Canada provides a host of sources for small business. Find the right financing by searching hundreds of sources in the database. Read articles by experts on nitty-gritty details such as cash flow, raising capital, venture capital, small business credit, angels, government loans and grants and much more. Take the time to browse EDC's EXPORT Finance Guide which helps Canadian small businesses understand and access information tools relating to exporting at each stage of the export transaction cycle, from getting export ready, opportunity identification and preparing your business for the tender/proposal and contract award stage, and finally to the production and then payment stage. Download business planning software and other tools. Get in touch with global marketing opportunities. It's all here. Canada's largest business Web site has lots of links to help you navigate "the financial maze."

Canada Business

Every program, fund and grant offered by federal government departments is listed here ? and there are hundreds of them. Designed for every imaginable business of any size, sector or location, Canada Business' site also offers a comprehensive collection of other financial links to banks, regional programs, provincial government and private lenders.

The Idea Café's Financing Your Business

A fun site with an entertaining array of serious information, "an all-you-can-eat financing feast." Its Small Business Channel boasts a main menu with lots of other treats.

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Date Modified: 2010-02-09

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