WHAT WE WILL COVER TODAY

• GCFDC Overview of Programs and Services

• Featuring: Community Retrofit Loan Program

– Eligible applicants, activities, costs, end date

• Eastern Ontario Development Program:

– Eligible applicants, activities, funding, costs

– Tips for a submitting a competitive application

– Mandatory supporting documentation

– Application intake process

– Application approvals/declines and contracting

– Funding flow

– Business Development Program at work

Overview of Grenville Community Futures

Development Corporation (GCFDC)

• Funded by Federal Economic Development Agency for Southern Ontario (FedDev)

• More than 60 CFDCs in rural Ontario

• Community-based, non-profit corporations

• Accountable to a volunteer Board of Directors

• Mandated to assist with growth in the local economy

• Serving Augusta, Edwardsburgh/Cardinal, North Grenville and Prescott

PROGRAMS & SERVICES

• Business Financing

• Business Consulting

• Strategic Community Planning and Priority

Setting

• Community Economic Development Projects

• Eastern Ontario Development Program

Business Financing

• Customized financing, including full participation or top ups

• Start-ups, relocations, stabilizations, expansions

• Loans and loan guarantees up to $250K

• Flexible repayment terms

Since 1990: loaned $23 MILLION to over 500

businesses impacting close to 3000 jobs

Business Financing -

Community Retrofit Loan

Purpose

• Encourage the development of vacant or underutilized, industrial, commercial or retail properties leading to development and job creation /retention potential.

• Up to $10,000 in repayable, non-interest bearing loan, amortized up to 5 years.

Eligible Applicants

• Businesses and commercial property owners in Augusta,

Edwardsburgh/Cardinal, North Grenville and/or

Prescott.

Business Financing -

Community Retrofit Loan

Eligible Activities

• Financial assistance can be provided for industrial retrofits, façade improvements, interior and exterior retrofits.

• Improvements including storefront, repair or restoration

of heritage elements, signage, lighting, awnings and

other related activities.

• Industrial retrofits that enhance the commercial property

and increase business competitiveness will also be

considered.

Business Financing -

Community Retrofit Loan

Eligible Activities

• Home based business exterior retrofits will be

considered eligible where a separate business entrance

exists.

• Maximum financial assistance for all loans through

GCFDC (EODP and other) shall not exceed $250,000.

• The Community Retrofit Loan Program complements

the CIP program and applicants are always encouraged

to leverage both programs, where possible.

Business Financing -

Community Retrofit Loan

Eligible Costs

• Costs that are reasonable and which relate directly to the

eligible project activities are eligible.

• A minimum of two quotes for each cost must be

obtained from arm’s length suppliers.

Program End Date

• March 31, 2018.

Business Consulting

• No cost consultations and referrals

• Business plan development guidance

• Business plan assessments

Community Economic

Development Assistance

• Strategic Community Planning and Priority Setting

• Community Economic Development Projects

• Eastern Ontario Development Program

EASTERN ONTARIO

DEVELOPMENT PROGRAM

(EODP)

• 5 year, $37.5 million Government of Canada initiative.

• Promotes economic development in rural Eastern

Ontario by contributing to the development of

businesses and communities.

• Intended to serve as a catalyst - encouraging new project

development, mobilizing broader community

stakeholders, and helping to form partnerships that lead

to establishing competitive, sustainable local economies.

• Non-repayable contributions.

EODP PROGRAM STREAMS

Business Development

• Promotes the growth of new and existing

businesses in rural eastern Ontario communities.

Community Innovation

• Advances community-led economic development

to enhance and diversify local economies.

SAME APPLICATION FORM FOR BOTH

Eligible Applicants

• Nonprofits, municipalities, post secondary institutions,

Aboriginal organizations.

• Commercial enterprises (incl. corporations,

partnerships, cooperatives, trusts).

• Must be located in and/or conducting business in

Augusta, Edwardsburgh-Cardinal, North Grenville,

and/or Prescott.

• Must have a BUSINESS NUMBER (HST/Payroll #).

Eligible ProjectsIncremental Project Activities

• New, innovative initiatives and enhancements to

existing activities.

• Activities that are in addition to existing activities.

• Activities that would not proceed without EODP.

With Impact

• On employment i.e. jobs created, jobs maintained.

• On sales.

Priority Projects Will Impact

• Tourism, agriculture, manufacturing or transportation.

• Employment in manufacturing, utilities, finance,

sciences, trades.

Eligible Projects

Expansion of Economic Assets (capacity building)

• Industry cluster development and expansion.

• Labour market development (skills gap analysis, skills

development, worker transition).

• Strategic planning and research studies.

Business Infrastructure

• Business incubators.

• Supply chain analysis and development.

Eligible Projects

Business Development and Growth

• New business development: training, mentoring, start-

ups.

• Existing business development:

– Productivity enhancements (info technologies, new

technologies, energy and productivity assessments)

– Market diversification

– Innovation/product development (R&D)

– Succession planning

– Training and mentoring.

Funding

• GCFDC can contribute up to 50% of the total eligible

project costs.

• Applicant must contribute at least 50% of eligible

project costs.

• Source of applicant’s contribution may be: cash on

hand, provincial funding (i.e. EODF), federal funding

(i.e. IRAP), business loan (i.e. GCFDC, LOC).

• Maximum contribution Apr. 1, 2014 - Dec. 31, 2018 is

$100,000 per business applicant.

• Contributions are non repayable.

Eligible Costs

• Itemized costs that are directly related to the execution

of the project.

• Incremental Costs i.e. not standard operational costs or

costs of doing business in your sector.

• Costs for which 2 quotes are provided.

• Costs from suppliers that are arm’s length and

unrelated to applicant.

• Examples:

- Equipment Purchases and/or Test Equipment Leasing

- Wage/Benefits Costs for New Job for Product Development

- Software Purchases for Productivity Improvement

- Consulting Fees for Feasibility Study.

Ineligible Costs

• Costs that are incurred prior to approval.

• Costs associated with ongoing operations.

• Administration costs.

• HST (100%).

• Rebatable portion of any project-related cost.

• Costs that have been offset by fees charged.

• Purchase of Land, Buildings or Vehicles.

• Cost of goods/services provided by suppliers who are

related and/or not at arm’s length.

• Wages/Benefits for new employees that displace

existing employees.

10 Tips For Submitting A

Competitive Application

• Contact us to discuss your project – early!

• Read program guide and complete the application online.

www.grenvillecfdc.com

• Align your project description with eligible project activities and priorities.

• Provide measurable impacts of your project - ideally jobs and sales impacts. Be accurate. They will be measured.

• Identify project risks and plans for mitigating. Show you can cash flow and financially sustain this project.

10 Tips For Submitting A

Competitive Application

• Provide a solid work plan with measurable results that you will be able to verify. (End date Dec. 31/18).

• Itemize the project budget. Ask for what you need. Avoid ineligible costs. Be accurate on timing of costs per fiscal year.

• Answer every question succinctly and include all of the requested attachments.

• Sign and submit application 4-6 weeks prior to your planned project start date.

• Wait for your approval before you start your project.

Mandatory Supporting Documentation

• Budget for each fiscal year.

• Proof of legal name.

• Financial statements.

• Interim financial statements.

• RFP, RFQ, job posting, job description.

• 2 quotes from arm’s length suppliers.

• Evidence of 50% contribution to eligible costs.

Application Intake Process

• Applications are accepted on a continuous-intake basis.

• Multi-year applications are accepted.

• Processing takes 4-6 weeks for a complete application.

• It’s a competitive process – not solely eligibility driven.

• Assessment criteria is detailed in the Program Guide.

• Decisions are made by a Committee of our Board.

• Funds are available to GCFDC by fiscal year.

• Approvals are made until budget is fully committed for

each fiscal year.

Application Approvals/Declines

and Contracting• 3 Decisions: Approval, Decline, Priority Ranked.

• Notification: Initially by email or phone.

• Contract: Contribution Agreement (CA) is issued outlining terms and conditions of approval.

• Project activity can start as of the approval date.

• Approved application is an integral part of the contract.

• All costs must be incurred, paid, and the goods/services received within the Funding Period AND according to Disbursement Schedule.

• Business name, location, project description, funding approved, and approval date are posted to GCFDC website.

Funding Flow

• Recipients pay for project costs in full.

• Progress payments are released based upon itemized claims for eligible costs, submitted monthly by recipients.

• Copies of invoices, evidence of proof of payment, and evidence of project of deliverables accompany claims.

• Report is provided on progress vs. expected results.

• Compliance with Contribution Agreement is assessed.

• Completed claims are reimbursed within 30 days.

Business Development Program

At Work

Some examples of funded projects include:

• OMSK: Purchase of lab equipment for product development.

• Metal Grafix: Purchase of printing equipment to diversify product mix.

• DVS: Purchase of custom mold for product development.

• Prescott Finishing: Purchase of equipment to support diversification into new markets.

BUSINESSES: CONTACT

Rod Wallace

Business Loans Officer

rwallace@grenvillecfdc.com

www.grenvillecfdc.com

613.925.4275 ext. 22

877.925.4275

197 Water St., Ste. 405, Prescott

8:00 am – 4:00 pm (Mon.-Fri.)

NONPROFITS: CONTACT

Heather Lawless

Executive Director

hlawless@grenvillecfdc.com

www.grenvillecfdc.com

613.925.4275 ext. 21

877.925.4275

197 Water St., Ste. 405, Prescott

8:00 am – 4:00 pm (Mon.-Fri.)