Funding for Small Business
There are many funding opportunities and business support programs designed to help new ventures, but it can be difficult to determine which ones may apply to your business. Business Advisors at the London Small Business Centre can help you navigate the options and discover the right funding solutions. They will meet with you for free, one-on-one consultations to discuss your business idea, review your plans and help you explore funding options.
If you have questions regarding your business financing, make an appointment with one of our Business Advisors to discuss your options. Call 519-659-2882 ext. 0 or email email@example.com
Click here to view ACCESS to Capital, Funding Opportunites for London's Entrepreneurs - a comprehensive listing compiled by London's Entrepreneur Support Network.
Below are several options you may want to consider for your business.
Government Funded Programs
The Small Business Centre administers several programs that provide financial assistance as well as business planning and ongoing coaching while starting your business. These programs include: The Ontario Works Self Employment program; and the Summer Company program just to name a couple.
Visit our PROGRAMS page to see the complete list and review the qualifications.
Grants and Other Contributions
The Innovation Canada web site provides a comprehensive listing of grant, loan and additional contribution programs available across Canada to assist the start and growth of businesses. Visit the web site to research financing opportunities that may apply to your business.
Book a consultation with a Business Advisor if you have additional questions. Call 519-659-2882 or email firstname.lastname@example.org
BDC - The Business Development Bank of Canada
The BDC - Business Development Bank of Canada is the only financial institution in Canada dedicated exclusively to entrepreneurs. BDC helps create and develop strong Canadian businesses through financing, consulting services and securitization, with a focus on small and medium-sized enterprises.
Through their subsidiary — BDC Capital, they also offer a full spectrum of specialized financing, including venture capital, equity as well as growth and business transition capital.
Canada Small Business Financing Program
The Canada Small Business Financing (CSBF) Program has been helping small businesses with their financing needs for over 50 years. Under the program, the Government of Canada makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.
Financial institutions deliver the program and are solely responsible for approving the loan. If you qualify, you can secure up to $1,000,000. Discuss your business needs with a financial officer at any bank or credit union in Canada.
Angel groups benefit entrepreneurs through exposure to a wider set of potential investor and a structured process that facilitates a relatively quick and efficient investment decision.
Located in London, the Southwestern Ontario Angel Group (SWOAG) is a not for profit corporation, founded in early 2008 with the goal of sourcing quality early stage investment opportunities and presenting them to a like-minded community of angel investors. SWOAG facilitates the introduction of entrepreneurs to potential investors through presentations, investment meetings, networking opportunities and more. SWOAG's membership is comprised of individual angel investors interested in financing privately-owned companies and/or ventures typically in an early stage of development.
Visit the SWOAG website to find out if Angel Investment is right for your business.
SOFII - the Southern Ontario Fund for Investment in Innovation supports high-growth, innovative Small and Medium-sized businesses in rural and urban communities by offering loans of usually $150,000 to $500,000 to support all aspects of growth challenges.
The loans are intended to help finance: late stage commercialization;new product or service development;new applications or markets; or development or implementation of new processes or technologies.
Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, usually via the Internet. Individuals are asked to make micro investments or donations to causes and ventures they believe in.
Two popular crowd funding platforms available in Canada are Indiegogo and Kickstarter. To learn more about crowd funding and determine if it's right for your business idea visit the National Crowd Funding Association of Canada.
Make an appointment with a Small Business Centre Advisor to discuss these and other possible financing option for your business.
Call 519-659-2882 ext. 0 or email email@example.com