Information Technology Financing Assistance

By mmuise
Description:

The Information Technology Financing Assistance provides term financing for purchasing capital assets and operating capital for the business’s accounts receivable and inventory. The assistance can take the form of:
1. intermediate term loans for purchasing capital assets,
2. operating lines of credit for purchasing inventory (based mainly on purchase orders and/or signed contracts/agreements) and for day-to-day operating costs such as marketing, travel, and human resource costs. Operating lines shall be repaid from sales and/or contract draws.


Comments on Funding:

Maximum financing generally is up to 80% of the purchase price or fair market value of the assets, whichever is less (intermediate term loans). The repayment terms are flexible and the maximum term for repayment is up to 10 years.
Up to 100% financing may be provided for inventory purchases and account receivables based on purchase orders and signed contracts/agreements (operating lines of credit).
There is an application fee of $250.00 or one-half (½) of one per cent of the amount of the loan proposed, whichever is greater.

Deadline: -
Eligibility:

The applicant can be any person that :

  • carries on business, or intends to carry on business, in the province,
  • operates a business that earns at least 60% of revenue from software publishing, computer systems design and related services, the provision of on-line information services, or the manufacture of computer and peripheral equipment or related electronic components.
Application Steps:

No specific steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Published date: January 21, 2016

About the author
mmuise