BNB-Financial Assistance to Industry Program (FAIP)

This document is based on information from Business New Brunswick Web site as of January 2008.

The Financial Assistance to Industry Program - (FAIP) provides financial assistance towards the establishment, expansion, or maintenance of

• new or existing manufacturing or processing industries;
• selected commercial service firms (business to business with focus on export activity or import displacement);
• tourism operations (consistent with the tourism strategy); and
• information technology companies (consistent with the information technology strategy).

Financial assistance may be provided in the form of a loan guarantee or direct loan.

Eligibility Criteria

• Applicant must be in an eligible industry sector cited above.
• The operations must be located in New Brunswick.
• Applicant must be able to provide a satisfactory level of equity
• Applicant must have attempted to obtain the required financing from conventional sources such as banks or financial institutions.
• Applicant must be able to provide adequate security, normally in the form of a first fixed charge on real property, machinery and equipment or an assignment of inventory and accounts receivable.

Eligible industries include manufacturing and processing companies, selected commercial service firms, full time tourism operations, and information technology companies.

Summary

New Brunswick Contact(s):
Business Financial Support
Business New Brunswick
P. O. Box 6000
Fredericton, New Brunswick  E3B 5H1
Telephone: 506-453-3890
Fax: 506-444-4182