Business Investment Program — Term Loan

Access to affordable capital can be a major hurdle for small and medium-sized businesses looking to modernize operations or pursue new markets. In Newfoundland and Labrador, companies focused on productivity gains or export growth may find the Business Investment Program — Term Loan to be a practical financing option. Delivered by the Department of Industry, Energy and Technology, this program offers repayable term loans designed to complement traditional bank financing when additional support is needed to move a growth project forward.

The program is geared toward established businesses operating in strategic sectors, particularly those investing in equipment, technology, or other initiatives that improve competitiveness. It is also well suited to companies with export potential that need capital to enter or expand into markets outside the province. Loans are offered at a highly competitive interest rate tied closely to the Bank of Canada rate, making them an attractive alternative to standard commercial borrowing while helping strengthen a business’s overall capital base.

Because funding amounts vary depending on the scope and impact of the project, the program can accommodate a range of investment needs, from targeted upgrades to larger expansion plans. Applications are generally accepted on an ongoing basis for businesses meeting certain requirements. For Newfoundland and Labrador business owners weighing their financing options, learning more about how this program works can help determine whether it fits their growth strategy.