Overview of Eligibility

Individuals submitting loan applications must be:

  • At least 19 years of age
  • A Canadian citizen or Permanent Resident
  • Residing in Canada

Eligible businesses must:

  • Have gross revenues that do not exceed $2 million
  • Be over 50% women-owned

Eligible

  • Capital assets (including machinery/equipment, leasehold/property improvements)
  • Office and equipment rental
  • Salaries and benefits (excluding owner’s salary)
  • IT/software license purchase
  • Professional services
  • Inventory/supplies
  • Intellectual Property
  • Working capital (e.g. payroll, lease payments, accounts management, rent, overhead costs)
  • Digital (including website/E-commerce development)
  • Marketing/advertising/business promotion
  • Employee training
  • Short term receivable financing (i.e. financing to service a contract)
  • Business start-up costs (legal fees, business incorporation fees, business plan preparation, etc.)

Ineligible

  • Capital expenditures on real property (e.g. land/building purchases)
  • Goodwill
  • Amortization costs
  • Purchase of assets for more than fair market value
  • Owner’s salary
  • Payment of bonuses
  • Refinancing existing debt
  • Purchase of stocks/shares
  • Franchise fees
  • Research and development
  • Management fees
  • Dividend payout
  • Increase to shareholder or management committee compensation