Regional development agency funding (ACOA, FedDev, PrairiesCan, CED)
Regional development agency funding is federal financial support delivered by an agency that serves one region of Canada, such as the Atlantic Canada Opportunities Agency, Prairies Economic Development Canada or Canada Economic Development for Quebec Regions. Each agency runs its own programs, so a business checks the agency and program that apply to it.
A buyer or owner looking for federal money to expand may find it through a regional agency rather than a bank. ACOA says its Business Development Program offers repayable funding that is interest-free and unsecured. Compare it with government-backed acquisition lending and see repayable contribution.
Different agencies, different delivery
- ACOA: its Business Development Program helps entrepreneurs launch, modernize and grow their business in Atlantic Canada.
- PrairiesCan: Community Futures corporations deliver services in the Prairie provinces, including loans to small and medium-sized businesses, according to the agency.
- CED: the agency describes its Quebec Economic Development Program as a CED funding program and lists funding for small and medium-sized businesses in the regions of Quebec.
What to check or ask
Confirm which agency covers the business’s location and which program fits. Ask whether the program funds the use you have in mind. If the business you are buying already has agency funding, ask for the funding agreement and ask the agency what a change of ownership means for it. This entry draws on ACOA, PrairiesCan and CED pages; it does not describe FedDev’s programs.
Sources
This definition is checked against primary sources. Links were last confirmed on the dates shown.
- 01Atlantic Canada Opportunities AgencyGovernmentBusiness Development Program
- 02Prairies Economic Development CanadaGovernmentCommunity Futures (CF) in the Prairies
- 03Canada Economic Development for Quebec RegionsGovernmentCanada Economic Development for Quebec Regions
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