Support for Entrepreneurs and Economic Development (SEED): Sector Support – Capital Expansion Incentive
$30,000.00
Grant
Description:
The Sector Support: Capital Expansion Incentive is designed for NWT businesses looking to defray the cost of investing in new, or expanded, facilities and equipment. NWT businesses may offset loan interest associated with new capital purchases for the expansion of their business.
Comments on Funding:
Funding takes the form of grants of up to $30,000, distributed over two or three years, with no single year exceeding $15,000 in support.
April 1 to March 31st annually
Eligibility:
Applicants must:
1. be NWT businesses;
2. meet the minimum equity requirements as follows:
a) 30% of project costs for Group 1 communities (Yellowknife, Hay River, Fort Smith, and Inuvik);
b) 20% of project costs for Group 2 communities (all other communities within NWT).
Application Steps:
Applicants must:
1. contact their regional Economic Development Officer to discuss their idea prior to the development of their proposal;
2. complete an application form;
3. submit the completed application form to their regional office.
Documentation Needed:
Applicants must attach all required documents identified in the application checklist.
Other Things to Note:
Funding is available from April 1 to March 31st annually.
About the author
Maurice
