How do I apply for Rental Cost Assistance?

Visit Government of Prince Edward Island, Innovation PEI's website for application instructions.

Who administers Rental Cost Assistance?

This program is administered by Government of Prince Edward Island, Innovation PEI.

Are there similar programs to Rental Cost Assistance?

Yes! Canada Grants Database has similar programs in the Business Financing & Capital category. Browse our database to find more options that match your needs.

How can I improve my chances of getting approved for Rental Cost Assistance?

Our detailed breakdown covers step-by-step application instructions, required document checklists, and eligible expense breakdowns so you know exactly what to prepare before applying.

Rental Cost Assistance

Government of Prince Edward Island, Innovation PEI

💰 Business Financing & Capital🏪 Small Business🌱 Early-Stage📈 Growth🗺️ Provincial

Contribution to cover Prince Edward Island (PEI) business rental costs

Funding

Contact for details

Deadline

Jan 19, 2024

Status

Closed

What Is This Program?

The Rental Incentive Assistance program contributes up to $6 per square foot per month for one year of rental space to help businesses get started or expand.

🏆 Detailed Application Guide

Preview of what's included with full access:

📋What Are the Application Steps & Timeline?

📝Steps to Apply: Consult with an Innovation PEI Business Development Officer
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🌐Application Portal: https://www.princeedwardisland.ca/en/form/business-development-application
📤Submission Method: online
🔄Intake Type: rolling

📄What Documents Are Required?

✅Required Documents: detailed Financial Statements for the previous two years for existing businesses
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📎Optional Documents: marketing plan
competitive analysis
feasibility study
resume
📐Format Requirements: PDF only, max 10MB
✉️Supporting Letters: satisfactory evidence of occupancy (copy of signed lease) and proof of rental/lease payment

💰What Expenses Are Eligible?

🧾Eligible Expenses: cost of leasing additional space
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🚫Ineligible Expenses: common area costs such as utilities
taxes
inside maintenance
📏Expense Caps: maximum one-year rental subsidy up to $6.00 per square foot
💳Payment Model: reimbursement
⏪Retroactive Expenses Eligible: No

🤝Is Matching Funding Required?

🔀Matching Required: Yes
📊Matching Ratio: 25% minimum
🏦Eligible Matching Sources: cash
in-kind
📚Stacking Rules: Cumulative government assistance is allowed.
🛡️Proof of Matching Required: satisfactory evidence of occupancy (copy of signed lease) proof of rental/lease payment (cancelled rent cheque, payment receipt or paid landlord invoice)

📊What Are the Reporting Requirements?

🗓️Reporting Frequency: annual
📑Reporting Requirements: satisfactory evidence of occupancy (copy of signed lease)
proof of rental/lease payment (cancelled rent cheque, payment receipt or paid landlord invoice)
🔍Audit Requirements: Innovation PEI reserves the right to deny a grant application or request for payment if it suspects or detects fraudulent intent.

Improve Your Winning Odds 5x

Everything you need to submit a winning application

●

90 businesses unlocked this grant this month

What's included

🛣️Step-by-step application roadmap
📋Complete document checklist
💰Eligible expenses breakdown
🤝Cost-share & matching details
📊Compliance & reporting guide
📄Official program documents
🖨️Print-friendly report

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FAQFrequently Asked Questions

Visit the program page for detailed eligibility requirements.

Contact the program administrator for funding details.

The application deadline is January 19, 2024.

What You'll Get

🛣️Step-by-step application roadmap
📋Complete document checklist
💰Eligible expenses breakdown
🤝Cost-share & matching details
📊Compliance & reporting guide
📄Official program documents
🖨️Print-friendly report

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