Did you know Canada has several small business funding options for you? The options come as Canada business grants and loans. Canada business grants are applicable to all types of businesses in the country regardless of industry.

The Canadian government has several options for you to find funding for your business. Find the right Canada business grant for you! Whether you are starting a new business or looking for small business fundingto grow your business, there are Canada business grants for you.

Here are our top 5 programs you can apply for.

Canada business grant: CanExport for Businesses (SMEs)

The CanExport Canada business grant program can help you expand your business globally. It is designed for small and medium-sized enterprises to help your business with export marketing to create business opportunities.

Which activities can be funded?

  • Your small to medium enterprise can apply online for up to $75,000 that would cover 75% of your international market development expenses
  • Activities covered under the CanExport program are:
    • Market research participation in virtual trade events and fairs
    • Adaption and translation of marketing tools
    • Search engine optimization
    • Expert advice on legal, business and tax matters
    • Intellectual property protection, certification, and adaption of contracts

What is the eligibility criteria?

  • The following eligibility criteria must be met by your business:
    • Be a for profit business
    • Be an incorporated legal entity or a limited liability partnership
    • Have a CRA registered number
    • Have less than 500 full-time equivalent employees
    • Declare between $100,000 and $100 million in annual revenue in the last 12 months

How can you apply?

  • Applications can be submitted via the online platform here
  • Applicants can expect a decision within 60 days of completing an application

Canada business grant for Strategic Innovation Fund

This Canada business grants, and loans program offers financial support for projects that improve Canada’s innovation performance and grow your business. It covers four types of projects in four different streams:

  • Steam 1: R&D projects that accelerate technology transfer and commercialization of innovative products
  • Stream 2: projects that facilitate the growth and expansion of firms in Canada
  • Steam 3: projects that attract and retain large scale investments in Canada
  • Stream 4: projects that advance industrial research, development, and tech demonstration through collaboration between academic, non-profits and private sector

What can be funded?

  • Non-recurring costs that are related to specified project are eligible expenses including:
    • Direct labour
    • Overhead
    • Subcontractors and consultants
    • Direct materials and equipment
    • Other direct costs

Who is eligible?

  • Any company incorporated in Canada can apply for the Strategic Innovation Fund from Streams 1 to 3
  • For Stream 4, applicants must be a consortium led by a Canadian incorporated company

How can you apply?

  • Ask yourself these questions to help prepare for your Canada business grantSIF application:
    • Is my project innovation-based?
    • Does my project fall within one or more program streams?
    • Can I demonstrate that my technical and management teams can successfully actualize the project?
    • Can I clearly describe the anticipated innovation, economic and public benefits of my project?
  • If you are confident of your project after the questionnaire, you can find the Statement of Interest form here


Canada Job Grant (CJG)

The Canada Ontario Job Grant is a hiring and training Canada business grant program. ThisCanada business grant offers direct financial support for employers who wish to further train their employees. It is applicable to small, medium, and large businesses that want to deliver short-term training to new and existing employees.

Who is eligible?

  • Individual, private, and not-for-profit employers are eligible for this grant
  • This grant is applicable to employers wishing to train either all employees or even one or two individuals
  • Additionally, employers must also:
    • Make minimum cash contribution to training costs
    • Employ individuals selected for training
    • Be licensed to operate in Ontario
    • Be training the individual for a job that is also located in Ontario
    • Comply with Health and Safety Act
    • Have adequate third-party general liability insurance
    • Comply with all applicable federal and provincial human rights legislation

How much funding can you receive?

  • The Canada Ontario Job Grant supports training costs up to $10,000 per individual
  • Additional flexibility is available for small employers
  • Employers with less than 100 employees may be eligible for $15,000 per individual

What training does this grant cover?

  • Tuition or other training provider fees
  • Textbooks, software, and other materials
  • Mandatory student fees
  • Examination fees
  • Potential travel costs (up to $500 over 24 km)

How can you apply?

  • For training grants more than 25 individuals, applications must be submitted through an online portal
  • For training grants less than 25 individuals, applications can be submitted online to a COJG service provider



Scientific Research & Experimental Development Tax Credits

SR&ED Tax Credits are a form of Canada business grants and loans offered to businesses of all sizes participating in any form of scientific research and experimental development in their projects. This Canada business grant is awarded to businesses in the form of tax credits or cash refunds.

Who is eligible?

  • To qualify, the work including basic research, applied research and experimental development must be carried out within Canada
  • Basic research: carried out to advance scientific knowledge without a practical application in view, usually carried out in universities or research institutes
  • Applied research: this is similar to basic research but is done with a specific practical application in view
  • Experimental Development: work is carried out to achieve technological advancement and is also the most common SR&ED work

What can you claim?

  • Under SR&ED you can claim expenditures for the following:
    • Salary and wages
    • Materials
    • SR&ED Contracts
    • Overhead
    • Third-party payments
  • You can expect to receive a portion of your expenditures as credits ranging between 35% and 65% of your total cost

How can you apply?

  • You can apply for your SR&ED credits through your corporate taxes at the end of your fiscal year by completing Form 661

Contact us today at EVAMAX to find out how we can prepare your application for SR&ED and other business grants.

What is business expansion?

  • A business expansion is a type of growth strategy
  • It focuses on obtaining growth by increasing number of stores in which a business can offer their services
  • This also includes increasing sales and services in existing locations
  • An expansion of business products and services is also considered a business expansion
  • The Canadian Government offers multiple grant programs to support business expansion

How can you expand?

You can expand your business by following these simple tips:

1. Consider expanding your product line

  • This may sound simple but can be game changing for your business
  • Try to expand this by first evaluating which one of your products or services is most in demand and what else your customers might like to see
  • .Then, try to estimate a price level for these new services
  • Next, determine your profit margin from these new services and see if they are viable for your business

2. Try to increase your sales

  • To expand your business your need higher sales
  • This can be achieved by either creating new services to reach new customers or increasing sales to prior customers of the business
  • You can further penetrate your existing customers by dividing them into customer segments
  • You can then cater your marketing efforts to better target each identified customer segment for your business
  • Your business can then receive more sales from existing customers

3. Expand your business to newer areas

  • To get more sales, you could also move your business to a newer area
  • This new area might be new to a service of your kind and could gain a lot of attraction
  • The new customers can be in newer market segments and different locations from your current operations
  • Expanding to newer locations might also require additional investment, keep reading to find out about our favourite expansion grants

4. Reach out to new customers

  • Your business expansion efforts can also be targeted towards newer customers
  • This can be based off demographics such as age, gender, location, interests, activities, and values

5. Expanding into new channels

  • There are multiple channels through which your business can offer its services
  • Its important to remember that internet marketing and advertisement are some of the most effective ways to market today
  • Handful of companies have reinvented their business to take advantage of these online business opportunities
  • Service providers are able to reach a broader audience and attract customers from newer areas through online marketing

6. Create a business expansion plan

  • Following the tips mentioned above, draw out a planned map for your expansion
  • Factor in your goals as well as your expansion strategy
  • Set out benchmarks and checkpoints to evaluate your expansion efforts along the way
  • Following through on an established plan can help your expansion be seamless and smooth

Here are some of our preferred business funding programs and expansion grants!

Southwestern Ontario Development Fund (SWODF)

  • This program funds and supports businesses looking to invest in new facilities and equipment
  • It provides applicants 15% of project expenses to a maximum of $500k-$5M depending on their business

Rural Economic Development Fund

  • The RED program aims to support regional economic development activities of non-profit in the rural Southern Ontario
  • The program provides between 30% and 50% of eligible expenses to a maximum of $150,000 – $250,000

Market Readiness Program

  • This specific program supports academic spin-off companies, OCE accelerator graduates and SmartStart Seed Fund awardees for early-stage commercialization activities
  • This program offers up to 50% of expenses to a maximum grant of $125,000 – $250,000

Creative Export Canada (CEC)

  • This is a government funding program that offers funding for projects that generate export revenues and help Canada Creative Industries reach more people around the world
  • It provides up to 75% of eligible expenses to a maximum of $2.5M in government non-repayable contribution


  • CanExport supports export marketing projects including participation in trade shows and government-led trade missions
  • It provides up to 75% to a maximum of $75,000 in grants per application and $99,999 annually

AgriAssurance: SME Stream

  • AgriAssurance’s SME Stream supports implementing third-party assurance certification projects that address international market requirements and help expand export opportunities
  • It provides up to 50% to a maximum $50,00 in non-repayable (grant) funding
For more information regarding any of these grants, please contact EVAMAX.

start-up companyGiven the current global COVID-19 crisis, Canadian businesses of all scales have been significantly affected. From vast store shutdowns, to shifting all possible operations to work from home, to extensive layoffs, businesses nationwide are dealing with the consequences of this disease now more than ever. While larger corporations are finding it easier to keep afloat, smaller independent businesses specifically start-ups are struggling to make ends meet. A large portion of funding for these firms is typically generated from start-up company grants.  

The Canadian Venture Capital and Private Equity Association (CVCA) has addressed the same issue in an open letter to Canada’s Minister of Small Business, Mary Ng asking for increased support for the national start-up community. The organization, spanning over 2,090 individual and member organizations, shed light on the requirements of start-ups with high growth potentials and the innovation sector of Canada in general. They recommended that officials could provide additional support for this hard-hit cluster of businesses. The organization regularly works to bring its community members together to enable partnerships and increase knowledge sharing proving to be a resource for Canada on private capital investments.  

Within this letter, three main potential pathways for additional support were listed. It was suggested that those firms subject to a Scientific Research & Experimental Development tax credit or any CRA funded innovation grants, be paid out their claimed amount as a liquid refund in addition to SR&ED reviews being passed on altogether, speeding approval process. Potentially required audits could then be completed at a later date once the economy is operational close to regular standards. By by-passing audits and reviews, the CRA could offer SR&ED funding based on the firms’ prior year filling at no additional cost to the CRA. This action can then in effect offer immediate liquidity for businesses and start-ups who require it the most to keep their staff on their payroll, keep operational and avoid increased unemployment in the country. Included in this call to action, CVCA also requested an improvement in the wage subsidy currently offered to Canadians after Prime Minister Trudeau announced it to be increased to 75% on March 27, 2020.  

As a second step, CVCA suggested that the Business Development Bank of Canada (BDC) increase their contribution of injecting liquidity into the Canadian economy. In addition to the BDC’s current role in the government’s emergency loan program, they are being called upon for additional capital for investors and funds stating that those reliant on foreign investors have also been drastically impacted as the foreign investors have retreated given current circumstances.  

CVCA suggests that BDC award matching convertible note loans with no payment obligations for up to 36 months after which the note can be converted to equity at BDC’s discretion. They also requested for BDC to temporarily ease the criteria for qualifications of lending measures to allow for start-ups who wouldn’t typically qualify, to also have access to liquidity in these tough times.  

The CVCA urged the idea that current measures assume pre-existing relationships with financial institutions which are relationships most start-ups lack undermining their need for assistance. The letter pushes the government to take more inclusive actions that increase liquidity for all types of businesses and firms within our nation given how critical of a role private equity and venture capital have within the regular Canadian economy. All assistance measures should take into account the need to also address this now missing element amidst the COVID-19 crisis.

So you have a small business up and running, but there are uncalled expenditures that are piling up on you. Whether you are looking for funding to take care of your additional expenditures or contribute to the growth of your brand, here are four financing options available to Canadian small business owners:

 1. Loans

While it’s harder to get loans from Canadian banks as a small business, there are several alternatives that are available to you.

  • Canada Small Businesses Financing Program: Any starts-ups, for-profit small businesses in Canada with gross revenues of $10 million or less are eligible to apply for loans under this program. The program can offer up to $1 million for a single small business. 
  • BDC Xpansion Loan and Startup Financing Program: For the Xpansion loan your business can receive up to $100,000 in long-term financing, with eligible expenditures including e-commerce, marketing plan, certifications and more. The Startup Financing program is designed to support small businesses during the start or early growth phase. Funding provided can be up to $100,000, which can be used for working capital, marketing, fixed assets. 
  • Community Development Financial Institutions: Microloans can be obtained from local financial institution. The Wester Economic Diversification Canada offers a microloan program that small businesses can get up to $15,000. 
  • Loans for Entrepreneurs who identify as minorities: For Women – The Atlantic Canada Opportunities Agency Women in Business InitiativesParo Centre for Women’s Enterprise, Women’s Enterprise Initiative Loan Program. For Indigenous communities: BDC Indigenous entrepreneur, Aboriginal Entrepreneurship Program Canada and Certified Aboriginal Business Program.

2. Grants

The Government of Canada provides numerous generous grants for business owners, particularly niche small business owners. Finding a grant that your small business is eligible can be overwhelming, try using this new tool on the Government of Canada website that allows you to streamline your hunt for funding.

Here are funding options that the Grants Specialists at EVAMAX focus on:

  • Basic Research
  • Experimental Development
  • Applied Research
  • Small + Mid-sized Technology Innovation Programs
  • Alberta Innovates – Product Demonstration Program
  • Support Alberta-based companies with the opportunity to develop novel and innovative technologies
    • Strategic Innovation Fund
    • Provides repayable + non-repayable contribution to support R&D. growth + expansion of firms in Canada, attract + retain large-scale investments in Canada, advance industrial research through collaboration between academia, non-profit organizations and the private sector

3. Debt or Equity Financing 

Debt financing include the owner or borrower accepts funds from an external source and commits to pay the principal and interest back after a certain period of time. The interest represents the ‘cost’ of money you borrowed. Often there’s monthly payments, for the both the principal and interest and place assets for collateral as reassurance for the lender. This is where debt-financing can be intertwined with equity-financing – putting up assets for collateral can include selling a stake in your company to your investors who plan to receive future profits. Business owners are involved with equity financing, means their investors are entitled to a portion of company profits. The investors may also have control in core business decisions. 


4. Angel Investors + Venture Capitalists  

Angel investors and venture capitalists are types of equity investors that support small businesses that have potential for growth but lack the adequate financial resources to grow and develop. Both these investors are often highly experienced and have expertise in investments within the industry your business exists. They will require pro forma with clear financials, demonstration of working product/service and a qualified management team, to consider investing in your small business. 

Throughout these financing options, small businesses are often still looking for ‘free money’ or grants they can collect to best develop their brand. If you are looking for support during your application process for grants + tax incentives or simply looking for what your small business is eligible for, contact a Grants Specialist at EVAMAX’s team today. You never know what funding you are bound to receive!