Capital Acquisition Assistance

By mmuise
Description:

Capital Acquisition Assistance supports Prince Edward Island businesses investing in technology, equipment, and infrastructure needed to grow their business and increase capacity and competitiveness.


Comments on Funding:

The program provides up to 25 per cent of the eligible costs to a maximum of $25,000 assistance.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be a Prince Edward Island business,
  • be registered to conduct business and actively operating in Prince Edward Island,
  • be manufacturing, processing, or developing goods or services primarily for export,
  • operate within one of these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, renewable energy and clean technology, information and communications technology, creative and cultural industries (first-of-its-kind exportable goods or services in other sectors may be considered),
  • not have a defaulted outstanding debt obligation on file in the Province‚Äôs Central Default Registry.
Application Steps:

The applicant must:

1. consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process, 2. complete the online application form.

Documentation Needed:

The applicant must submit:
1. the online application form,
2. a description of the business and an outline of its history,
3. detailed Financial Statements for the previous two years, if existing business,
4. a completed business plan, if a new businesses,
5. a description of the proposed project or activity in relation to the products and/or services delivered by the business,
6. a detailed description of the economic benefits to the organization and to Prince Edward Island,
7. detailed information on the estimated costs of the proposed project or activity,
8. source of funds for the project,
9. explanation of the business's current market position and projected market, outlining any increases in market share,
10. a list of all shareholders and key management personnel.

Other Things to Note:

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About the author
mmuise