Call Us Toll Free   1 877-277-0677

Small Business Tips Blog

Show me the money! But first, how do I find it?

Whether you are starting a new business or purchasing an existing business, securing finances for your business can be difficult and frustrating. In this blog post we have identified key Federal and Provincial loan and grant programs that you may be eligible for and might help ease your financial frustrations.

Photo credit: Paul Falardeau Flickr: http://bit.ly/drN6PW

Getting started The most important step you can do, prior to seeking out financial assistance for your business, is to develop a business plan. It may seem like a tedious task, but many lenders and grant programs will only award financial assistance to businesses that have a well thought out business plan. To assist you in designing and developing a business plan here are two online resources: Canada Business: Developing your business plan Writing an Effective Business Plan Provincial, Federal, and Community Options There are a number of provincial initiatives, local community loan funds, and other financing opportunities across Canada. Locally, there is your local HRDC office. HRDC can direct you to various local funding options that might not be available in the provincial context. To search for federal programs only: www.cbsc.org/english/finance/searchfinance.cfm To search for programs by province: http://strategis.ic.gc.ca/SSG/so01884e.html In Western Canada, the Western Economic Diversification Fund assists businesses in securing funding and financing. http://www.wd.gc.ca/eng/home.asp The Business Development Bank of Canada (BDC) and Calmeadow are two common financing sources for entrepreneurs. BDC http://www.bdc.ca/

Further, the BDC has an excellent resource on Demystifying your Bank when it comes to Business Loans. This resource will help you identify key questions to ask your bank in relation to your prospective loan. http://www.bdc.ca/en/advice_centre/articles/Pages/demystify_your_banker.aspx

Calmeadow http://www.calmeadow.com/ There are many other financing options, but start with the links above. As you research your financial options, be sure to read all of the small print. Many grants have reporting requirements and many loans have high interest rates.

Pin It

From Our Small Business Blog

Millennials Part II: The Face(book) of the Future

The Millennial generation, no doubt, pushes some HR boundaries and challenges business owners and managers to get creative about how to keep their employees engaged. In the Scout Exchange and Oracle H

21 Oct, 14

Millennials Part I: The Face(book) of the Future

When you think about Millennials—the demographic cohort that follows Generation X and roughly represents those born between 1976 and 1994—what are the first words that come to mind? If you said entitl

14 Oct, 14

Subscribe to our Small Business Tips newsletter

Call Us Toll Free 1 877-277-0677

© Chambers of Commerce Group Insurance Plan 2012