Regional Tariff Response Initiative in British Columbia-Funding overview

1. Funding overview

On this page

• Businesses with commercial projects seeking repayable contributions
• Businesses with commercial projects seeking non-repayable contribution
• Not-for-profit organizations with non-commercial projects that support SMEs

Businesses with commercial projects seeking repayable contributions

Funding:

• Interest-free repayable contribution of $200,000 to $10 million per project
• Up to 75% of eligible costs for commercial projects

Repayment terms:

• Repayment terms will be determined at the contribution agreement stage, but repayment normally begin 1 year after project completion, to be repaid in equal monthly installments over 5 years (additional flexibility may be possible, by exception)
• No collateral required or penalty for early repayment

Funding source:

• At least 25% must come from non-PacifiCan sources, and at least 10% must come from non-government sources
• Combined government assistance from all sources (municipal, provincial, and federal, including PacifiCan’s contribution) cannot exceed 90% of total eligible project costs, but may be up to 100% for projects led by Indigenous applicants
• Projects that secure funds from combined non-PacifiCan and non-government sources to cover larger shares of their eligible costs will be assessed more favourably

Businesses with commercial projects seeking non-repayable contribution

Funding:

• Non-repayable contributions up to $1 million are available to businesses that:
  • Generate economic benefits for the local economy or a given region; AND
  • Play an important role in supporting the local supply chain
• Lifetime maximum of 1 project per recipient for non-repayable contributions under RTRI
• Up to 50% of eligible costs for commercial projects

Repayment terms:

• Non-repayable

Funding source:

• At least 50% must come from non-PacifiCan sources, and at least 10% must come from non-government sources
• Combined government assistance from all sources (municipal, provincial, and federal, including PacifiCan’s contribution) cannot exceed 90% of total eligible project costs, but may be up to 100% for projects led by Indigenous applicants
• Projects that secure funds from combined non-PacifiCan and non-government sources to cover larger shares of their eligible costs will be assessed more favourably

Not-for-profit organizations with non-commercial projects that support SMEs

Funding:

• Non-repayable contributions up to $10 million for non-commercial projects to support small- and medium-sized enterprises (SMEs)

Repayment terms:

• Non-repayable

Funding source:

• At least 10% must come from non-PacifiCan sources
• Combined government assistance from all sources (municipal, provincial, and federal, including PacifiCan’s contribution) may be up to 100% of total eligible project costs
• Projects that secure funds from combined non-PacifiCan and non-government sources to cover larger shares of their eligible costs will be assessed more favourably