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Making Sense of New and Existing Funding for Manufacturers
The federal government has announced $7.5 billion in new and expanded support for Canadian businesses, including several changes that may be particularly relevant to manufacturers:
- Regional Tariff Response Initiative (RTRI): Starting in September, RTRI will expand to provide up to $2 million for immediate cash-flow needs for businesses impacted by tariffs. For longer-term projects, the maximum non-repayable contribution will also increase from $1 million to $3 million, supporting investments such as new equipment, automation, expanding or bringing production in-house, finding new suppliers, and entering new markets.
- BDC Pivot to Grow: A new $500 million stream offering loans from $250,000 to $5 million, with interest-only payments available for 36 months, for businesses directly impacted by tariffs.
- Canada Strong Diversification Fund: A new $2 billion program for larger, ready-to-go projects, including capital investments.
- Workforce Retention and Retraining Program: New support to help businesses retain and retrain employees as they adjust their operations.
A key change is that support is now available for both immediate cash-flow pressures and longer-term investments that can help manufacturers adjust their operations and reduce their exposure to future trade disruptions.
Making Sense of New and Existing Funding for Manufacturers
Hosted by Steve Holmgren, MCM.
