ABFP program renamed to BFP.
ABFP program renamed to BFP.
Subject to consultation with your local Indigenous Financial Institution (IFI), AIC may consider support for minor Non-capital costs and activities such as planning, marketing, and business (management) support.
Completion of all or part of a project plan such as developing business models & strategies, comprehensive business plans, market assessments and feasibility studies. Business Plans are expected to be completed in a timely manner not to exceed 12 months.
Completion of financial projections, historical financial statements or other financial related activities in support of project or business decisions.
Business valuations by a Chartered Business Valuator (CBV) in support of a business acquisition.
Appraisal to determine the fair market value of an asset.
Activities in support of regulatory compliance such as an environmental assessment, health and/or safety.
Other needed activities in support of project decisions such as legal, design, engineering, etc.
To be considered for support, these costs must be substantiated by quotes that detail the scope and timing of work to be performed. The service provider’s qualifications and experience must also be demonstrated. The costs must be reasonable relative to the size, scope and complexity of the project. Most planning projects are expected to be completed within 12 months.
Enhance the capabilities and capacity to market and promote a business while building the most effective and efficient channels that establish, maintain and grow relationships with customers and accelerate sales. See details below.
Enhance the capabilities and capacity of management. Most common examples are accounting, tax and legal advisory. Other examples include memberships in professional bodies or industry associations, mentoring and specialized training. The service provider’s qualifications and experience must also be demonstrated.
Planning projects can be funded up to 75% of Eligible Costs (HST is excluded) with funding of up to $25,000 (a budget not exceeding $33,333). The balance of costs covered by client cash.
Minor Marketing and/or Business (Management) Support projects can be funded up to 75% of Eligible Costs (HST is excluded) with funding of up to $25,000 (a combined budget not exceeding $33,333). The balance of costs covered by client cash.
Clients previously supported will be normally considered for a reduced rate of support (meaning less than 75%) with a default rate reduction of 15% from the previous rate(s) of support for marketing and business support calculated separately.
Typically, the amount of support allocated to these projects range from $3,750 to $15,000 (Budgets of $5,000 to $20,000)
Clients with budgets exceeding $33,333 and/or needing funding over $25,000 must consult with their local IFI first. AIC cannot consider direct funding requests greater than $25,000.
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