Require Info on CAD Fed/Prov Grants for Restaurant Start-up

[ryoung03]

Hi,

Does anyone know of any reliable source where one could apply for Federal/Provincal govt grant funding for a restaurant start-up?

Cheers

Ron

[dcranson]

I'm not sure about government grants for restaurants, but my recommendation would be to approach a lender that offers loans under the Canadian Small Business Financing Loan program where the government will guarantee 85% of the loan. You can borrow up to $250,000 to finance equipment and renovations under this program. Restaurants are very risky business, however some of the Chartered Banks will look at restaurants if there is enough of an initial equity investment and you have a solid business plan (experienced management team, good concept and strategic location).

[Stefanie]

The Small Business Funding Centre might also be of some help. Their site breaks down various recipients of government grants and loans by province and by business. It gives a good idea of who is getting the money out there...

http://www.grants-loans.org/grantsloans/reports.php?prov=on

[ltrahan]

I actually contacted the Small Business Funding Center personally a couple of weeks ago. I was trying to find out more about guaranteed government purchasing program. It was interesting to say the least:

1. When I called, the guy answering proceeded to ask me a series of questions mixed in with a well polished script. I was able to ask ONE question in the middle of his presentation amd that was only because I interrupted him.

2. At the end they tried to sell me their $400+ guide to government funding programs.

This is all they do - they are a for-profit company whose sole business is creating a directory of funding programs and selling it. They do nothing else as far as I could tell. I wouldn't bother going down that route unless you are interested in purchasing their guide.

[bbhannah]

Well friend, you can try the Government Grant Authority & If you would like to claim your share of free government grants then I will personally suggest you for this place. Few years ago I went there for help and I was really surprised to get it without any effort.

[BizLoanz4u]

Hi Ron,

I cannot stress this enough, There are absolutely NO government grants for this. Please review my original post about this topic here:
http://www.evancarmichael.com/Forums/vi ... php?t=1446

[bbhannah]

Well friend
I don’t have any idea about government grants for restaurants, but I will recommend that you may try on some banks who offer loans for small business where the government will have some guarantee.
Beside that Restaurants business is very risky so some of banks who gave some Financing Loans they will look at on it if there is enough solid business plans.

[sumitdutta3]

I already got federal Stafford loan via college. I want this loan to be sent to me and I don't want the financial aid office to be involved. I have a credit worthy cosigner. It's a community college but I need my own computer and to pay for rent that doesn't get paid by my part time job. I need to apply immediately. Please help me.

[daymin123]

Hello everybody, I am a Hispanic woman who is going to become a Medical Lab Technician. I have decided to go back to school after having first child a little over a year ago. I have already been accepted into the program, but I am trying to find all the funding I can. I have already applied for Pell Grant and Subsidized Student loans, but the Pell Grant only covered 3 of the 4 classes. So I am looking into grants? Will I qualify this? Please help me.

[GT Bulmer]

Hello everybody, I am a Hispanic woman who is going to become a Medical Lab Technician. I have decided to go back to school after having first child a little over a year ago. I have already been accepted into the program, but I am trying to find all the funding I can. I have already applied for Pell Grant and Subsidized Student loans, but the Pell Grant only covered 3 of the 4 classes. So I am looking into grants? Will I qualify this? Please help me.

Hello, daymin123:

Welcome to the EvanCarmichael.com Entrepreneur Forums. Actually, you have posted your question in an older topic thread that is talking about Canadian Federal or Provincial grants for restaurant start-ups ... not really applicable to your situation, so you may not get very much response in this thread.

I recommend you re-post your question in the main "Getting Financed" category as a New Topic, then see what response it draws.

And tell us a bit more about grants you may already have looked into. Are you Canadian or American? In which province or state do you reside?

GT

[kaveri]

Hi, I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or are I limited to a home equity loan. I'm not interested in HELOC's. What is the difference between a mortgage and a home equity loan? Thank you,

[GT Bulmer]

Hello, kaveri:

That is beyond my scope of expeience. Perhaps there is another forum member who can respond.

You might want to do some Internet search engine searches for the type of financial information you seek.

Either key terms like "mortgage advice" or "home equity loan" into your favourite search engine (like Google),or go to someplace like http://www.wikipedia.org/ and see what they offer for information on those search terms. You might want to include your country in the search string.

GT

[JBunion]

I know the Ontario government is starting a "Second Career" campaign, full of internship opportunities for new chefs and catering staff. It may be worth your while to research the possibilities with that. It may work itself out to be cheap labor in the form of a grant. Good luck regardless!

[GT Bulmer]

I know the Ontario government is starting a "Second Career" campaign, full of internship opportunities for new chefs and catering staff. It may be worth your while to research the possibilities with that. It may work itself out to be cheap labor in the form of a grant. Good luck regardless!

Hey, JBunion:

Do you have more details on this? Or a recommended link for more info?

I sometimes find that some government programs do not get publicized well and deserving people miss out on an opportunity for lack of knowledge about it. It's good to share info like that.

GT

[symonahan]

The Business Guide to Government Programs will assist you in locating and applying for business grants in Canada. Just Google them.