Business Incentive Program

By mmuise
Description:

The Business Incentive Program (CRSP) provides new businesses grant funding for a portion of monthly commercial rent; namely up to 25% of the rent, to a maximum of $625 per month, for a period of 12 months.


Comments on Funding:

Funding takes the form of a grant covering a portion of monthly commercial rent; namely up to 25% of the rent, to a maximum of $625 per month, for a period of 12 months.

Deadline: -
Eligibility:

Applicants must:

  • be new businesses that meet the DWBIA’s eligibility sectors:
    a) Experiential Drinking and Dining Services;
    b) Technology;
    c) Other Eligible Sectors (bakery, grocer/specialty foods/deli/butcher, hardware and home improvement, wine store (regional), pet supplies/pet boutiques, art/music supplies/stationery, shoes/handbags/accessories, cosmetics/body care/fragrance/beauty supply, apparel (men/women/children), independent movie theatre, home décor, vintage/antique stores (clothing/accessories/décor), toys/educational (children), boutique gym, bicycle shop, and bookstore).
  • be located within the DWBIA’s boundaries;
  • submit a business plan demonstrating their ability to stay in business for minimum period of three (3) years.
  • agree to remain in business and to not sell or assign such business to another person or entity for a period of twelve (12) months from the date of initial funding. In the event the business (applicant) fails to remain open, or the business or property is sold or transferred, within the 12-month grant period the applicant shall reimburse the DWBIA for amounts received.
Application Steps:

Applicants must:

1. submit a completed program application prior to the business opening.

2. attend a Committee meeting to discuss their application.



The applicant will be notified, within 120 days of receipt of application, if the DWBIA has approved of the applicant’s application.

The DWBIA may award funding to an applicant with certain provisions, conditions, or other requirements the DWBIA may deem necessary in the sole discretion of the DWBIA.

Documentation Needed:

Applicants must submit:
1. the completed application form;
2. a copy of their business plan;
3. proof that the business is registered in Ontario as a Corporation, Sole Proprietorship, or Partnership.

Other Things to Note:

No deadlines found. For further details contact the DWBIA offices at:
Downtown Windsor Business Improvement Association
419 Pelissier St., Windsor, ON N9A 4L2
519.252.5723.

About the author
mmuise