Canadian Bank Launches Financing Program for Cleantech Industry

Updated on Thursday 26th July 2018

Most Canadian companies now provide innovative services to their customers, which is why the government has started enabling various programs through which assistance for the implementation of high-tech solutions is granted. Now, the cleaning sector will benefit from a special financing program from the Business Development Bank. Foreign investors who want to open cleaning companies in Canada can rely on our local consultants.

The new financing program was announced in the 2017 Budget

It’s been a while since the Canadian government has announced the financing program for the cleantech industry, as it was announced with the Budget for 2017, however, the implementation began this year.

The amount allocated for this program is 700 million USD and companies can apply for the program in the next 5 years.

Until now, 4 companies have benefitted from the program which enabled them to access 40 million USD. The program was a success and through it, cleaning companies have accelerated their growth.

Our company formation agents in Canada can explain the requirements related to starting a company in the cleaning industry.

The new program to help Canadian companies grow

The Business Development Bank has a long history in supporting companies investing in innovation, which is why the new financing program is expected to address the needs of cleantech companies and help them increase their growth potential.

The program is also expected to have a positive impact on the Canadian economy and increase the number of jobs created in this industry. Moreover, it is expected for the government to commit more to the promotion of a clean environment.

The government to attract more investors from the private sector

The Canadian bank is quite invested in the new program and helps to attract more capital from the private sector which will help companies interested in accessing financing to grow. The goal of the program is the development of the cleantech industry with the help of both private and public financing which will ensure long-term results for Canadian companies, but also for the environment.

For information on the legislation applicable to the cleaning industry and assistance in setting up a company in Canada, please contact us.