Grants

This program provides equity assistance for the start-up or the expansion of small businesses for Status individuals.

 

Basic Eligibility Requirements

• You must be an Alberta Resident and your business must be located in Alberta, (starting a business in another province? Contact the office to ask for the phone number of the AFI for your province).

• You must have a minimum of 6 months to one year of experience in the industry you are starting your business.

• Projects must be a start-up or expansion of a business.

• The business must generate an income for the applicant of at least $20,000 annually.

• Total project costs to include >$20,000 of depreciable capital assets

• The applicant must obtain financing through a commercial lender for the costs that are not covered by the grant and the cash equity (if you have already received financing.

• Additional requirement information can be obtained through the program coordinator.

 

How Does the Grant Work?

SEAP is a non-repayable grant that is available to help mitigate how much you are borrowing from a financial institution. It can provide up to 30% of your project total to a maximum of $99,999. To apply for the grant you must meet all eligibility requirements.

This program provides equity assistance for the start-up or the expansion of small businesses. The grant is for Status individuals and is named The Status Entrepreneurs’ Assistance Program (SEAP). Please note that you will be filling out separate applications for both the Grant and the Loan.

The SEAP grant is not a stand-alone grant. It is applied to approximately 30% of the total project costs. To receive the SEAP grant you must meet the eligibility requirements and be eligible for an AIIC loan.  The breakdown is 10% equity contributed by you, 30% non-repayable grant funding and 60% AIIC loan financing to make up 100% of the total project costs.