Stewart McKelvey

GOVERNMENT FINANCING FOR BUSINESSES OPERATING IN ATLANTIC CANADA PRINCE EDWARD ISLAND THE PEI LENDING AGENCY provides loans to businesses in agriculture, fisheries and aquaculture, small business, tourism, IT and manufacturing and processing. Capital loans are generally for no more than 20 years and will not exceed 80 per cent of the fair market value of the asset or land. Some exceptions apply for agricultural loans. Operating loans are available NEWFOUNDLAND AND LABRADOR THE NEWFOUNDLAND AND LABRADOR government has developed the Business and Market Development Program which provides new and expanding small businesses with funding to help them acquire the expertise needed to pursue new markets and business ideas. Funding of up to $25,000 is available and funds must be matched on an equal basis by the applicant. Small businesses with less than 50 employees and less than $5 million in annual sales are eligible. The province also provides a Commercialization Program which provides financial assistance to projects by supporting pre-commercial activities related to product development and second generation product development. The program provides a direct equity investment or Brian Tabor, Q.C. Halifax, NS 902.420.3397 btabor@stewartmckelvey.com a conditionally repayable contribution of up to 75 per cent of total project costs, to a maximum of $500,000 per project. Projects must be in a post-research stage of product development and located in the province. Applicants must be in good financial standing with federal and provincial governments. Eligible expenses include, but are not limited to, working capital, fixed assets, technical expertise and marketing research. These are just a few of the many programs that are offered to business owners in Atlantic Canada. Please contact any of the members of Stewart McKelvey's Commercial Real Property and lending practice group and we would be happy to assist you in identifying available funding to advance your business goals. Meaghan Fawcett Summer Student Halifax, NS for up to 100 per cent financing of such items as inventory purchases and human resource expenses, depending on the industry. Intermediate loans are provided for those in small business tourism, IT or manufacturing and processing. These loans are provided for the financing of items such as fixed assets and asset refurbishment and will not exceed ten years. STATUTORY DECLARATIONS I By Ken McCullogh, Q.C. t is common practice in Canada for construction contracts to require contractors to submit statutory declarations with all progress billings or at least with release of holdback billings. In the conventional 6 FALL 2012 DOING BUSINESS IN ATLANTIC CANADA statutory declaration, the contractor certifies to the owner that all amounts owing to workers, subcontractors, material suppliers and all other indebtedness incurred by the contractor in the performance of the work to date have been paid,

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