Investment Attraction Fund

By mmuise
Description:

The Investment Attraction Fund provides customized financial assistance to inward investors in support of establishing a business in the province or expanding a business as a result of foreign direct investment (FDI). The Fund consists of an allocation for loans and advances towards strategic investments in infrastructure support costs, human resource costs or other costs, as determined by the Department of Industry, Energy and Technology.


Comments on Funding:

For the purpose of this Fund, inward investment includes investments in start-up or expansion activated by investors external to the province. The investment may be in the form of equity or loans. Inward investments require a direct contribution of funds by the inward investor in addition to any potential funding that may be sourced from the Government of Canada, commercial lending institutions and/or venture capital firms.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be a duly registered company or commit to taking the necessary steps to become a registered company under the Newfoundland and Labrador Corporations Act and/or the Canada Business Corporations Act and legally entitled to conduct business in the Province,
  • have or commit to have operations situated in the Province,
  • be in good standing with the Province,
  • create employment,
  • have the potential to bring economic benefit to the Province considering funding provided to the investor from all provincial government sources.
Application Steps:

To apply, applicants should contact Taylor Parsons by phone at (709) 729-7108 or by email at tparsons@gov.nl.ca.

Documentation Needed:

Applicants must submit:
1. a proposal for funding,
2. a detailed business plan including the following information: business overview, ownership and management plan, human resources plan, manufacturing and/or operations plan, marketing and promotional plan, capital plan, and, financial plan,
3. additional information, if requested.

Other Things to Note:

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About the author
mmuise