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Small Business Investment Grant

by opportunitydiary

Application Deadline: March 31st, 2022.

The Small Business Investment Grant helps Prince Edward Island’s small businesses improve efficiency and innovation by way of a non-repayable financial contribution toward the purchase of eligible capital asset cost.

Eligibility

To be an eligible applicant, a business must be located in Prince Edward Island and:

  • be registered to do business in Prince Edward Island as a for profit entity
  • actively operating on Prince Edward Island; and
  • be the primary source of income for the applicant OR employ at least one employee (minimum of 560 hrs).

Ineligible applicants include:

  • a business that has a defaulted outstanding debt obligation on file in the Province’s Central Default Registry; 
  • not-for-profit organizations or associations;
  • fishers, farmers, and realty companies (including commercial/residential landlords and developers); and
  • banks and financial companies, including pawnbrokers, pay day loan, cheque cashing and white label cash machines. 

Application Procedure

  • An application must be submitted in the year in which the eligible capital asset(s) is purchased.
  • The application will include a list of all the capital assets the business has purchased since April 1st and/or a list of eligible capital assets the business intends to purchase up to March 31st.  
  • The application is reviewed and if approved, an email notification will be sent to the applicant including application details and instructions on the request for payment process.  

The deadline for application submission is March 31st, 2022.

Official Website: Small Business Investment Grant

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