If your business is planning a major investment in Newfoundland and Labrador, financing the upfront costs can be a challenge. The Investment Attraction Fund Newfoundland and Labrador supports businesses by providing provincial loans to projects that drive economic growth. The program is currently open and administered by the Department of Industry, Energy and Technology.
The Investment Attraction Fund (IAF) is a repayable loan program designed to encourage new investment and business expansion in Newfoundland and Labrador. Its goal is to attract projects that create jobs, strengthen key sectors, and generate long-term economic benefits for the province.
Unlike most small business grants, funding under this program is provided as a loan. Terms are negotiated based on the project, its risk, and its expected impact on the provincial economy.
Key program facts:
The Investment Attraction Fund is flexible, but it is focused on costs tied directly to growth and investment. Eligible expenses are assessed on a project-by-project basis.
Commonly supported costs include:
Final eligible expenses are confirmed during discussions with the program administrator.
The province does not publish a strict public checklist for eligibility. Instead, applications are assessed individually based on the proposed investment and its economic impact.
In general, the program is intended for:
Eligibility details are not fully defined online. Contact the department early to confirm if your project qualifies.
Tools like GrantHub’s eligibility matcher can help you filter similar Newfoundland and Labrador funding programs by industry and business stage in seconds.
There is no fixed maximum or minimum loan amount published for the Investment Attraction Fund. Funding levels vary depending on:
Loan amounts and repayment terms are negotiated directly with the province once your project is reviewed.
The application process is based on discussions with the department, not just filling out a form. Expect a more detailed review than with standard small business grants.
Typical application steps include:
Because this is a negotiated loan program, timelines can vary depending on project complexity.
A strong application increases your chances of approval and speeds up the process. Here are some tips:
Q: Is the Investment Attraction Fund a grant or a loan?
It is a repayable loan program. Terms are negotiated based on your project and financial capacity.
Q: Is the Investment Attraction Fund currently open?
Yes. The program is listed as open at the time of writing.
Q: What types of businesses are a good fit?
Businesses making significant investments that support economic growth in Newfoundland and Labrador are the best fit. Eligibility is assessed case by case.
Q: Are Investment Attraction Fund loans taxable?
Loans are generally not considered taxable income. However, interest and accounting treatment should be reviewed with your accountant.
Q: Can startups apply for the Investment Attraction Fund?
Early-stage businesses may be considered if the project shows strong economic benefits and repayment ability, but established operations are more common.
GrantHub tracks hundreds of active grant and loan programs across Canada — check which ones match your business profile.
If you’re planning a major investment, the Investment Attraction Fund Newfoundland and Labrador could be a key piece of your financing strategy. Before reaching out to the province, it helps to understand how this program compares to other federal and provincial options. GrantHub helps you see which funding programs align with your project, location, and growth plans so you can proceed with your application.
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