Supply Management Processing Investment Fund

By mmuise
Description:

The Supply Management Processing Investment Fund (SMPIF) helps processors of supply-managed commodities adapt to market changes resulting from the implementation of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The program provides non-repayable contributions to support investments in dairy, poultry, and egg processing facilities that improve productivity and/or efficiency through the purchase of new automated equipment and technology.


Comments on Funding:

Funding will take the form of non-repayable contributions. The maximum AAFC contribution to an organization will normally not exceed $5 million over the life of the program.
Eligible project costs will normally be shared between AAFC and the applicant's organization as follows:
1. for SMEs: AAFC (50%), the applicant (50%);
2. for large organizations: AAFC (25%), the applicant (75%).

Deadline: Currently accepting applications
Eligibility:

Applicants must be:

  • for-profit organizations, including corporations and cooperatives;
  • processors of supply-managed commodities (dairy processors, poultry primary processors (chicken and turkey), poultry further processors (chicken and turkey), Hatcheries (broiler, egg-type or turkey), egg graders, egg processors);
  • operating in Canada;
  • processors buying domestic raw commodities;
  • holding an active federal or provincial licence to carry out activities with respect to food processing;
  • able to provide financial statements demonstrating ongoing revenues from processing, including a minimum of 24 months prior to the submission of an application;
  • federally or provincially registered legal entities capable of entering into legally binding agreements.
Application Steps:

The applicant must:

1. complete and submit a Project Summary Form to aafc.smpif-fitpgo.aac@agr.gc.ca (stage 1);

2. complete a Project Application Package, if invited (stage 2).

Documentation Needed:

The applicant must submit:
1. the application form, including:
a) work plan listing all activities and detailed description of the work to be undertaken;
b) financing plan;
c) performance objectives;
2. a business plan, including:
a. diagram of the applicant's corporate structure;
b. organizational chart;
3. certificate or Articles of Incorporation;
4. 2 complete financial statements (which will cover three years of revenues), including balance sheet, income statement, and statement of cash flow;
5. pro forma financial statements for 3 years after project completion;
6. detailed budget with forecasted total project costs by cost category and fiscal year;
7. copies of financing agreements related to the project financing plan;
8. quotes, estimates and/or contracts supporting the costs of the project;
9. federal or provincial processing licence.

Other Things to Note:

Date modified: 2022-10-03

About the author
mmuise