“Going green” is not just for residents who
recycle. Many companies are taking proactive steps to develop and implement environmentally
friendly business practices. The Canadian Government is fostering this
atmosphere by providing numerous resources to not only help a business go green
but to provide limited financing for entrepreneurs who are getting into the
environmental business.
The go-to site for any small business
should be the Canada Business
Network. There is a wide range of government-backed loan guarantee agencies
designed to help a small business that might be having difficulty securing a
loan from other creditors. Among the agencies are:
Canada Small
Business Financing Program: This is a program
that can help a business owner secure up to $500,000 from an accredited lending
institution by offering a loan guarantee. These loans are meant for direct
improvements to a business such as purchasing equipment or property for the
company. For these loans a small business is defined as any company making less
than $5 million a year.
Eco-Financing: This program applies to businesses operating in Quebec who are
associated with the environmental industry such as acquiring carbon credits,
research and development for greenhouse gas reduction or acquiring offset
credits.
Export
Guarantee Program: If your business will be
involved in export related activities or foreign investments then you could
find a benefit of a loan guarantee from this agency.
Canadian
Agricultural Loans Act Program: This is a loan
guaranteed program that assists farming businesses in securing credit. It
applies to start-up farmers or for a farmer taking over an existing business
with a maximum loan guarantee of up to $500,000 that can be applied towards
land purchase and construction.
There are also many funding
and incentive programs being offered to Canadian businesses who adopt
“green” technologies or practices. These include rebates for installing solar
energy panels, and helping agriculture business produce their own renewable
energy sources.
Additional resources offered by the
Canadian Business Network are for environmental technology
verification. This allows businesses to get any environmental system they
are using to be certified. That will help the business secure those loans which
are geared towards eco-friendly businesses. In other words, you might have to
prove you’re eco-friendly before getting the loan.
The Energy Management
Information Systems Planning Manual helps business owners audit their
company’s use of energy. Armed with this information, a business owner can make
adjustments in their energy use that could save them money in power costs.
The FleetSmart program offers
incentives and resources for companies who want to switch their transportation
fleets over to more fuel efficient models. In some cases, companies are making
a complete switch to electric cars with the help of these incentive programs.
Bottom line: whether you want to make your
business more eco-friendly or want to start an environmental related business
from the ground up, the government of Canada is a terrific place to start.
