The information provided here provides an overview of funding resources, programs and services that provide small business financing from government, community organizations, and the private sector. This list is not exhaustive and we cannot guarantee the accuracy of external sources.
Contrary to popular belief, grants for business start-ups are few and far between. Aside from there being a limited pool of accessible money, the application process and reporting requirements can be a serious drain of your time. And remember, you should never have to pay for grant information! (via womensenterprise.ca)
Finance PEI Micro-Loan Program categories include: trades; qualification recognition; small-scale food production; business start-up; and winter production financing. Finance PEI will provide loans up to $15,000 per applicant for new and expanding businesses to further respond to the capital needs of entrepreneurs. For more info contact email@example.com or (902) 368-6200
Urban Seed Loan Program urban entrepreneurs (residents of Greater Charlottetown) of any age can apply for loans of up to $20,000 to start a new business. Business owners under age 35 also have the opportunity to apply for loans to expand. Furthermore, the program offers training and counselling services. For more information, please contact the CBDC at (902) 888-3793 or 1 (844) 239-3793 or email firstname.lastname@example.org
Rural loan applicants - check the CBDC links immediately below
Pilot and Discovery Fund supports new and existing businesses with the initial stages of developing a innovative new products, services or processes in the strategic sectors. Approved projects are eligible for up to 50% to a maximum of $25,000 in funding for eligible project expenses.
Development and Commercialization Fund assists new and existing businesses with final stage product refinements and commercialization costs in developing a new product, service or process. Approved projects are eligible for up to 50% to a maximum of $80,000 in funding for expenses directly tied to the approved project.
Both of these funds are deadline-based, and competitive in nature.
Grants & Competitions
The Startup Canada Women Entrepreneurship Fund is now open for applications from individuals, businesses and organizations. Micro grants of up to $3000 are available; deadline is February 21 2017. Apply online!
Ignition Fund is a competition for entrepreneurs seeking startup funding. Innovation PEI will award up to $25,000 to the winning applicants. This investment will not require a matching contribution.
Stay tuned for 2017 call for applications.
The Web Presence Program from Innovation PEI provides a non-repayable contribution to Prince Edward Island businesses to assist them in establishing a website - service provider must be a PEI company and application must be approved before work begins.
The contribution is limited to 40 per cent of the cost to a maximum contribution of $500 per small business.
Innovation PEI offers a variety of financial supports and services to business development in Prince Edward Island. Business development professionals are available to help determine which supports and services are best for your business. Not all projects meeting the minimum assistance criteria outlined will receive funding. Please consult with an Innovation PEI staff member for guidance specific to your company's situation.