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NEWFOUNDLAND AND LABRADORBUSINESS ATTRACTION FUNDThe Business Attraction Fund is designed to attract medium and large scale businesses to theprovince by providing customized financial assistance. The fund consists of allocations for loansor incentives as well as non-repayable contributions.BUSINESS INVESTMENT PROGRAM (“BIP”)The BIP provides term loans and equity investments to SME in strategic growth sectors asidentified by the Department of Innovation, Business and Rural Development (“IBRD”). The fundis also available to businesses that have export potential and require assistance to enter orexpand in external markets. Funds are provided to complement funding from conventionalsources, where a need has been demonstrated, and are also intended to increase the capitalbase of businesses allowing them to leverage new private-sector investments. The BIP is in theform of repayable term loans to a maximum amount of $500,000 per government fiscal year atthe Department’s base rate of 3%. Equity funding in the form of redeemable preferred shares toa maximum of $500,000 per project; maximum aggregate of $1 million is available.BUSINESS DEVELOPMENT SUPPORT PROGRAM (“BDSP”)The BDSP assists Newfoundland and Labrador SMEs with opportunities to increase theirproductivity and improve their competitiveness. The BDSP supports SMEs that demonstrate adesire to develop and grow by improving the operations of their businesses, investing in theirpeople, and focusing on trade opportunities. IBRD assistance will be targeted towardsbusinesses in strategic sectors that normally focus on export markets and/or improve importsubstitution. Funding is available for productivity improvements, knowledge development,market development and/or professional technical advice. The BDSP is in the form of a nonrepayablecontribution(s) to a maximum amount of $100,000 per government fiscal year. Thecontribution level will be based on 50% of eligible costs, with the business identifying its sourceof the remaining 50% of funds required to complete the project(s).ECONOMIC DIVERSIFICATION AND GROWTH ENTERPRISES PROGRAM (“EDGE”)The EDGE program provides a package of incentives to encourage significant new businessinvestment in the province to help diversify its economy and stimulate new private sector jobcreation, particularly in rural areas.Eligible Companies: A new business or an existing business interested in expanding in theprovince may apply for EDGE status if it meets the following criteria:Business Incentives 176