If your Prince Edward Island business needs new equipment to grow, the PEI Capital Acquisition Support Program can help cover some of the cost. Delivered by Innovation PEI, this program supports investments in technology, equipment, and infrastructure that help export-focused businesses expand. The funding is repayable, but it can make large purchases more manageable when your cash flow is tight.
The Capital Acquisition Support program helps Island businesses invest in assets that boost growth and exporting. It offers a repayable contribution of up to $25,000, covering up to 25% of eligible project costs.
Key facts:
To qualify for the PEI Capital Acquisition Support Program, your business must meet all of these requirements:
Start-ups can apply as long as these conditions are met. There is no minimum operating history listed, but Innovation PEI pays close attention to your business’s growth and export potential.
The program helps pay for capital purchases that directly improve your ability to grow and compete in export markets.
The equipment must be essential to your project and support business growth. General maintenance, routine replacements, or assets not tied to expansion are less likely to qualify.
If you’re not sure whether your planned purchase fits the rules, tools like GrantHub’s eligibility matcher can help you check before you apply.
The application process is managed through the PEI government.
Define your project
Prepare your budget
Submit your application
Program review
Do not buy equipment before you get approval unless Innovation PEI says it’s allowed. Only pre-approved costs are eligible for repayment support.
The PEI Capital Acquisition Support Program provides a repayable contribution, not a grant. This means you must pay back the funding according to the agreement you sign with Innovation PEI. Repayment terms are set when your application is approved and depend on your project and financial situation. Make sure to review the repayment schedule and factor it into your business planning.
Thinking it’s a non-repayable grant
This program is a repayable contribution. Plan for repayment from the start.
Applying without a clear export link
Innovation PEI wants projects that support exporting. Make this connection clear.
Including unrelated renovations
Only renovations directly tied to new equipment are eligible.
Requesting more than 25% of costs
Applications above the cost-share cap will be reduced or rejected.
Q: Is the PEI Capital Acquisition Support Program a grant or a loan?
It is a repayable contribution, not a traditional grant. You can receive up to 25% of project costs, to a maximum of $25,000, which must be repaid under agreed terms.
Q: What types of equipment are eligible?
Eligible equipment includes technology, machinery, and infrastructure that supports business growth and exporting. The purchase must be essential to your project and clearly justified.
Q: Do start-ups qualify for this program?
Yes. Start-ups can apply if they are registered, operating in PEI, and meet the export and sector requirements.
Q: Do I need to be an exporter to apply?
Yes, in most cases. Businesses must mainly serve export markets, though exceptions exist for first-of-its-kind exportable products or services.
Q: Can renovation costs be included?
Yes, but only when renovations are directly linked to installing or operating eligible equipment.
You may also want to explore:
The PEI Capital Acquisition Support Program can lower the upfront cost of important equipment while helping your business grow. If you’re planning several investments, consider how this program fits with other funding options in PEI and across Canada. You can use GrantHub to find and compare active grants and funding programs that match your business needs and goals.
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