Anyone ever get a GOVERNMENT GRANT?

[8BITJONES]

Has anyone had a government grant given to them? I'm opening a small business next year and I'm looking for funding...I just bought a home. I'm patented and ready to go but I need funding of around 15K..anyone interested? The patent formalities clerk told me it was a great idea and that it should do very well.

[cdnNick]

My girlfriends father got a grant for an innovative design. It was a fair bit of money xxx,xxx. The grant paid for about half of the project, the rest came out of his own pocket.

We get to see the unveiling at the end of August.

I have no clue about the process, I only wish I had looked into a grant before I opened up my business.

[KevC]

A grant would be awesome for my business idea. I hear you have to have a kickass business plan and it's not that hard. However, I wouldn't know who to talk to. Links would be appreciated.

[magicray]

You gotta do R&D. Better than grants.

[Canucklehead]

Google the following - not grants but loans:

Canadian Small Business Financing Act
Business Development Bank of Canada
(Micro-business program and venture loans)
Working Capital for Exporters - must be established business
Techno.net loan - existing small business
E-business bleuprint

You have to have a business plan/business proposal.

[jamied]

Google the following - not grants but loans:

Business Development Bank of Canada.

Bear in mind that the BDC is, in their own words "a financial institution wholly owned by the Government of Canada." They are definitely *for-profit* like any other lending institution. Our experience with them was one of futility and absurdity. Often, as we discovered, they set conditions of a loan to include hiring them as consultants regardless of their knowledge or expertise in a given area. The loan they finally offered us was higher in interest and fees than using a credit card. Of course, we declined, but this didn't stop them from harassing us for payments against a loan we never took out with them. Was pretty embarrasing for them really, yet no one ever offered anything resembling an apology.

J.

[brendonp]

Bear in mind that the BDC is, in their own words "a financial institution wholly owned by the Government of Canada." They are definitely *for-profit* like any other lending institution. Our experience with them was one of futility and absurdity. Often, as we discovered, they set conditions of a loan to include hiring them as consultants regardless of their knowledge or expertise in a given area. The loan they finally offered us was higher in interest and fees than using a credit card. Of course, we declined, but this didn't stop them from harassing us for payments against a loan we never took out with them. Was pretty emabarrasing for them really, yet no one ever offered anything resembling an apology.

J.

I second this opinion of the BDC; during my first startup experience, the company I was a part of spoke to the BDC, but the terms were horrendous - huge interest - enough, that unless we were wildly successful in a few short months the interest would be un-tenable - ie, a 250k loan would result in a 8 year repayment schedule costing more then 1.5 million. On top of that, if we were successful they basically wanted the option to purchase 51% of the company for at less then the cost of the first years intersest that we would be paying them!

We eventually just dropped the BDC as an option - and it was a relief to everyone!

[wheel]

Third on that BDC comment. They told me they LOVED canadian online businesses that exported to the US. So when my Canadian business needed inventory (100% returnable inventory BTW) to expand into the US they just about wanted to marry me. Until we got to the paperwork at which point their first question was 'do you have an real estate as collateral'? No? then no loan.

Stupid. I went ahead and took a second mortgage and maxed my credit cards for a few months, basically did it on my own.

[Ron]

I'm patented and ready to go but I need funding of around 15K..anyone interested?

I work with a VC firm that is constantly looking for businesses that are looking for financing. Send me a PM with some details and I’ll pass it along.

This offer is open to everyone.