The city of Edmonton looks to support many small local businesses and business owners through the awarding of this grant. Applicants for the grant may receive up to $25,000 to aid them in the development of their business in Edmonton. The funds are restricted to certain uses and the location of Edmonton, but anyone that qualifies is encouraged to apply.
Eligibility
Applicants must adhere to the following eligibility requirements:
- Have a small business or non-profit in Edmonton
- Align project goals with one of the Plan’s twelve action goals.
- Provide documentation on how the business or non-profit will A) create new jobs, B) diversify the economy of Edmonton, C) increase revenue for other local businesses in Edmonton, and/or D) attract investment in conjunction with one of the Plan’s expected project goals.
The extensive list of the Plan’s project goals can be viewed on the grant’s website.
It should also be noted that the grant cannot be used for any of the following:
- Payroll
- Operational costs or association dues or fees
- Permits or licensing fees
- Funds for marketing or marketing plans
- Financial support for ongoing events or company-sponsored initiatives
If your intent for the funds is any of the aforementioned points in the restricted list, your application will be denied.
Grant Awards and Amounts
These business grants are “reimbursement grants”. It means that once accepted and awarded, the business or non-profit must provide receipts showing cash spent on the project’s needs as they apply to the grant recipient’s targeted goals. When the receipts are approved, the grant is disbursed to the recipient to reimburse him or her for the money spent.
Additionally, the total cost of the award is only half of the total expense you list on the grant application. This amount is a minimum of $10,000 Canadian, with a maximum of $25,000 Canadian. Ergo, your minimum budget for the project must be $20,000 with a maximum budget of $50,000. If you are going to receive contributions from other sources to this project, the amount of the grant awarded to you will be a percentage of the remaining project budget minus your donations.
You WILL be required to show that you have the financial resources to front your half of this project, so be prepared to show them business checking balances or other documentation as requested. If you cannot prove that you have the 50% funding on your end at the time the grants are awarded, your award may be revoked according to the terms of the grant. Funds will be disbursed until they are exhausted and not every qualified applicant will receive funding.
Deadlines to Follow
This grant program will provide business grants to applicants throughout 2021 and 2022 until the funds are exhausted. Applicants can expect a six-week waiting period between the time their applications are submitted and accepted and the time when they may receive notification of an award. The last day to submit any application is December 31st, 2022, although it is highly advised that you put your application in long before the last day of the year.
For More Info…
This is not an easy process in terms of funds for your Edmonton business, but if you can adhere to the strict guidelines, you may be able to get the grant. For a full and complete list of requirements and restrictions, and to fill out an application before the end of the 2022 year, go to Edmonton’s website for the grant. You can read up on the grant here.