Financing
In Cornwall, we want to encourage newcomers to start their own business. We know that getting financing is one of the most challenging aspects of starting a business. Eligible business owners and entrepreneurs in Ontario have access to a large selection of government programs, services and financial incentives. Grants and loans are available to:
- Start or buy a business
- Buy or lease a property
- Sell or close a business
- Research, develop and commercialize a new product
- Obtain a patent or license
- Apply a new technology
- Hire and train workers
For more information about the financial incentives available to Cornwall business owners, visit the following website:
Cornwall Business Enterprise Centre
An excellent resource for business owners is the Cornwall Business Enterprise Centre (CBEC). The Centre helps business owners and entrepreneurs succeed in Cornwall by offering information, tools, and support during start-up and growth stages of your business.
Cornwall & the Counties Community Futures Development Corporation:
Cornwall & the Counties Community Futures Development Corporation (CFDC) is a non-profit development agency that provides a wide variety of programs and services to support economic development and small businesses in the community. The CFDC offers financial assistance by way of loans and grants to small businesses, particularly those that create jobs in the community or where the business sector is attractive to diversification within the community. For more information, click on the link below:
Business Development Bank:
The Business Development Bank of Canada (BDC) can provide Canadian companies with debt financing at attractive rates and debt/equity ratios for both real estate and equipment purchases. Through a subsidiary—BDC Capital, the company also offers venture capital, equity as well as growth and business transition capital. For more information, click on the link below:
Export Development Canada
Export Development Canada (EDC) aims to support and develop Canada’s export trade by helping Canadian companies respond to international business opportunities. In collaboration with the Government of Canada, EDC provides insurance and financial services for Canadian companies exporting to foreign markets. EDC officers can also provide free market information. For more information, click on the link below:
Banks
You can also look to the private sector for financing for your business. For commercial loans and other debt financing services, you can turn to Canadian chartered banks like CIBC, BMO and RBC Royal Bank.