Financing for Small Businesses.

Essay by C-n-DUniversity, Bachelor'sA+, April 2003

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Financing for Small Businesses

There are various ways in which a potential entrepreneuer can get financing for their small business. I will provide some the the organizations and the ways in which they give financing.

The Strategic Community Investment Fund is designed to support strategic initiatives that respond to the economic development needs of Atlantic Canada and help communities strengthen their economic base. The Fund is a component of the Atlantic Investment Partnership, a five-year Government of Canada initiative designed to help Atlantic Canadians compete in the global, knowledge-based economy.

The Strategic Community Investment Fund helps communities throughout Atlantic Canada create opportunities for economic development in order to stimulate investment and job creation. The Fund assists in creating an environment in Atlantic communities that encourages and enhances: the development of strategic sectors, adjustment to the knowledge-based economy, the adoption of new technology and innovative practices, and capacity to compete in the global economy.

The program is funded with $135 million over the next five years. Assistance is non-repayable, and the amount provided to each individual project will be determined by an assessment of the level of funding necessary to allow the project to proceed.

Eligible recipients include non-commercial/not-for-profit organizations such as local development associations, municipalities and their agencies, business or technology institutes, industry associations, economic development associations, universities, educational institutions, local cooperatives or other business entities undertaking not-for-profit initiatives.

To be considered for funding, projects should meet the following criteria: Be consistent with the overall objectives of the Program; Have potential to further the economic development of a community or a group of communities and should not benefit one community at the expense of another; Arise from an analysis of regional economic development opportunities; Be incremental in nature; Be of a fixed duration; Be viable and or sustainable over the...