Programs, Grants & Tax Credits

Venture Kamloops has the important information you need to know about traditional and private financing, government programs, credits and incentives that can help grow your business. Find the resources and information on programs below, or contact Jim Anderson for detailed information and advice at jim@venturekamloops.com or 250-828-6818.

Financing

Community Futures Programs for Entrepreneurs


Entrepreneurs With Disabilities

The Entrepreneurs with Disabilities Program offers small business loans to people with disabilities who are interested in starting or growing their own business. Loans are available to entrepreneurs with a viable business idea who have a disability or an ongoing health condition. In-house or online resources and training are available to support the goal of self-employment. More Information

Self-Employment Programs

Participants in the Self-Employment program receive business training and access to financial assistance while getting their new business up and running. The program is designed to reduce some of the financial concerns of self-support for new entrepreneurs who are taking their first step towards self-employment. More Information

Self-Employment program for Youths with disabilities – Self Employment Explorer. More Information

Small Business Loans

Community Futures provide entrepreneurs with small business loans up to $150,000 when traditional financial institutions are unable to help. Loans are available for new business start-ups, business expansion, or to stabilize an existing business. More Information

Futurpreneur Canada (Canadian Youth Business Foundation)


Futurpreneur Canada helps businesses through the entire business life-cycle from pre-launch planning, to start-up, to implementation by providing pre-launch and post-launch coaching, mentoring, online business resources and financing. Futurpreneur Canada provides access to up to $50,000 in start-up financing and access to up to $30,000 in expansion financing through a partnership with the Business Development Bank of Canada. More Information

Women’s Enterprise Centre


Women’s Enterprise Centre’s Business Loans Program offers small business loans to women-owned businesses in BC that can help you start, enhance, or grow your BC business. Loans are available for up to $150,000 for BC women and are complemented with free professional advice. More Information

Canada Small Business Financing Program (CSBFP)


Since 1961, the Canada Small Business Financing Program (CSBFP) seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses. It does this by encouraging financial institutions to make their financing available to small businesses. By sharing the risk with your financial institution, the program may help you secure up to $1,000,000. More Information

The Southern Development Initiative Trust


The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors. More Information

Angel Investors


An angel investor or angel (also known as a business angel or informal investor) is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors organize themselves into angel groups or angel networks to share research and pool their investment capital. More Information

Financial Institutions


Banks and Credit Unions

Traditional bank financing is also known as debt financing or providing loans to businesses. In a loan, the business initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments.

Name Address Phone Number Website
Bank of Montreal #29,750 Fortune Drive101F 1-877-225-5266 www.bmo.com
101F – 1180 Columbia Street W
Business Development Bank of Canada 205 Victoria Street 1-888-463-6232 www.bdc.ca
Canada Western Bank 1211 Summit Drive 250-828-1070 www.cwbank.com
 
Canadian Imperial Bank of Commerce (CIBC) 304 Victoria Street
565 Notre Dame Dr
#6-700 Tranquille Road
250-314-3188
250 314-3106
250-554-5700
www.cibc.com
Interior Savings Credit Union 350 Lansdowne Street
1210 Summit Dr
250-374-3361
250-314-1210
www.interiorsavings.com
 Valley First Credit Union 180 Seymour Street  250-374-4924  www.valleyfirst.com
HSBC Bank Kamloops 380 Victoria Street 1-888-310-4722 www.hsbc.ca
Royal Bank of Canada 186 Victoria Street (Main)
400, 1210 Summit Dr
789 Fortune Dr, Kamloops
250-371-1500
250-374-8334
250-376-8822
www.rbcroyalbank.com
Scotia Bank 276 Victoria Street(Main)
500 Columbia Square
781 Tranquille Road
250-314-3950
250-314-5475
250-554-5625
www.scotiabank.com
TD Canada Trust 301 Victoria Street
500 Columbia Square
#29, 700 Tranquille Road
2121 E Transcanada Hwy
250-314-5035
250-314-3000
250-376-7774
250-314-5100
www.tdcanadatrust.com

The Business Development Bank of Canada

The Business Development Bank of Canada promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to entrepreneurs. A financial institution owned by the Government of Canada, BDC has been serving Canadian entrepreneurs for more than 65 years. As a complementary lender, BDC offers loans and investments that fill out or complete services available from commercial financial institutions. More Information

Venture Capital


Ministry of Jobs Tourism and Innovation: Venture Capital Programs

Venture capital programs encourage investors to make equity capital investments in British Columbia small businesses that will enhance and diversify the provincial economy. These programs give small business continuous access to early-stage venture capital to help them develop and expand. More Information

Small Business Venture Capital Tax Credit

The small business venture capital tax credit is for corporations that invest in shares of a registered venture capital corporation or eligible business corporation. More Information

Eligible Business Corporation

Under the ‘direct’ investment approach, a small business registers as an eligible business corporation under the venture capital programs. This allows a small business to accept equity capital directly from investors without having to set up a venture capital corporation.More Information

BC Renaissance Capital Fund

The B.C. Renaissance Capital Fund Ltd. is a Crown corporation. The Renaissance Fund invests in venture capital partnerships managed by experienced investment professionals. It focuses on four key technology sectors: information technology, digital media, clean technology and life sciences. More Information

Employee Share Ownership Plan (EIA)

The Employee Share Ownership Program (ESOP) provides employees with a 20% tax credit investments in their employers’ business. British Columbia residents can claim up to a $2,000 non-refundable tax credit annually. Entrepreneurs can use an ESOP as a tool for retirement succession planning, employee recruitment and retention, increasing employee engagement, and financing growth. More Information

Business Development Bank: Venture Capital

BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company’s development cycle, from seed through to expansion, with a focus on innovative technology-based Canadian companies that have high growth potential, offer unique products or services and that are positioned to become dominant players in their markets. More Information

BDC Operates 4 Direct Investment Funds:

  • Diversified Venture Fund
  • Energy/Cleantech Venture Fund
  • Health Venture Fund
  • IT Venture Fund

Grants

BC Innovation Council


Startups and small technology companies in BC can now access quality talent at an affordable cost through the BC Tech Co-op Grants Program. More Information

Investment Agriculture Foundation British Columbia (IAFBC)


The mission of IAFBC is to assist British Columbia’s producers, processors, agri-businesses and rural communities to develop solutions and seize opportunities. They offer a variety of programs to assist the agriculture and food processing industries in BC. Whether you’re interested in pursuing a local marketing or export opportunity, enhancing environmental sustainability or developing a new product or process, funding is available to help turn your idea into reality. More Information

IRAP Financial Assistance Programs


Research and Technology Development Activities

The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) provides financial support to qualified small and medium-sized enterprises in Canada to help them develop technologies for competitive advantage. NRC-IRAP operates on a shared-risk model, providing cost-shared financial assistance for research and development projects that meet both the firm and project assessment criteria. More Information

Youth Employment Program

This program provides financial assistance to innovative small and medium-sized enterprises in Canada to hire post-secondary science, engineering, technology, business and liberal arts graduates. Graduates work on innovative projects within the small and medium-sized enterprise environment and may participate in research, development and commercialization of technologies. More Information

The Southern Development Initiative Trust


The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in 10 key sectors. More Information

Sustainable Development Technology Canada


SD Tech Fund

The $590M SD Tech Fund™ is aimed at supporting the late-stage development and pre-commercial demonstration of clean technology solutions: products and processes that contribute to clean air, clean water and clean land, which address climate change and improve the productivity and the global competitiveness of the Canadian industry. More Information

NextGen Biofuels Fund™

The $500M NextGen Biofuels Fund™ is aimed at supporting the establishment of commercial scale demonstration facilities for the production of next-generation renewable fuels and co-products that is a first of its kind. More Information

Natural Sciences and Engineering Research Council


NSERC helps Canadian companies compete in today’s economy by jointly funding collaborative R&D projects with scientists and engineers in universities and colleges across the country.

These shared-cost options are flexible and responsive and can businesses stretch research dollars; connect to skilled and knowledgeable people; deliver creative ideas and practical solutions; promote long-term partnerships; and gain access to specialized facilities and equipment. More Information

Tax Credits

CRA – Scientific Research and Experimental Development (SR&ED) Tax Incentive Program


The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive program to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada that will lead to new, improved, or technologically advanced products or processes. The SR&ED program is the largest single source of federal government support for industrial R&D. More Information

BC Film Tax Credits


Film Incentive BC (FIBC)

This incentive is for domestic productions that are Canadian owned and controlled and have qualifying levels of Canadian content. More Information

Production Services Tax Credit (PSTC)

This tax credit is open to both domestic and foreign producers, and has no Canadian content requirements. More Information

Various Tax Incentives and Credits


There are various Provincial and Federal programs that offer tax credits and incentives to a variety of industries. More Information

Grants, Contributions and Financial Assistance Independent Programs


Explore opportunities to receive public funds to help springboard your business venture. There are programs that apply to businesses in all provinces and territories, and others that apply only to businesses in the Kamloops region. More Information