Believe it or not, depending on the size and nature of your budding business, there is a great chance that you are eligible for a Canadian government grant and loan funding programs that will give you anywhere from $1500 up to a whopping 10 million dollars.

All of these and more to give you all of the financial assistance you will need to guarantee success for your business. As the Canadian government is aware of, with every new legit business built, the economy of the country gets better.

HOWEVER, here’s the thing, there are myriads of types of Canadian Grants that it can easily get confusing. And this is serious. If you apply for the wrong type of Canadian grant, you’re application will be rejected…and the chances of your future applications for the right type of Canadian grant getting approved is also greatly diminished.

With that in mind, let’s take a look at the types of Canadian Grants that many budding businessmen resort to to get the funding they need to succeed.

Types of Canadian Grants 1 – One-Time & Renewable

What’s nice about this Canadian grant is that, when you get the money, there’s no need for you to pay it back. All you have to do is make sure that you use the grant money as outlined in the terms and conditions of the grant.

You see, the federal and provincial governments understand how tough it is for small and home based businesses to bring new products and competition to the market, make your business more streamlined and efficient, hire employees, and everything in between. To make it easier, they provide billions of dollars every single year to aid small Canadian businesses as well as Canadian product innovation.

As a fine example, the National Research Council Industrial Research Assistance Program (also known as NRC/IRAP) gives non repayable contributions (another name for grants, by the way) to businesses – small and medium sized, who are interested in growing by making good use of technology in order to commercialize their services and products in Canadian and international markets.

Types of Canadian Grants 2 – Equity Financing

This one can be likened to a way a venture capitalist investing in your business. HOWEVER, there is one key difference – the Canadian government is more interested in economic stimulus and less interested in getting their return on the investment. That means less pressure is on you to deliver short term profits. A nice example of Equity financing or grant would be Subordinate Financing provided by the Business Development Bank of Canada (known as BDC for short). Along with that, you could also use available cash flow as your method of repayment instead of your company’s assets which continue to depreciate by the way.

Types of Canadian Grants 3 – Conditionally Repayable Contribution

When the Canadian government invests in your business, you are assured that it has a built in protection for you. And in this case, you are required to pay back the grant only if your business proves to be a success. You can liken it to having a nice (and angel like) venture capitalist invest in your company, BUT only wants a return on investment if you succeed in your budding business.

And we haven’t touched the tip of the iceberg yet! There are other different types of Canadian Grants out there that are waiting for you to take advantage of. BUT mind you, it can easily get confusing!

In light of that, a Grant kit – a legit one, will make the application and approval process a lot easier for you. Along with that, it will also give you everything you need to know to find the right type of Canadian grant that you should take advantage of. The Canadian grant kit found at http://www.grantsmoney.com/ca/ is definitely a must have!

Thousands of small and home based businessmen (who are looking for the right type of Canadian grant) were greatly aided by this grant kit and you can be sure that it will do the same thing for you!