Top Small Business Grants, Loans, and Wage Subsidies in Alberta

Alberta is characterized by a diverse landscape, from prairies to vast mountain ranges. This diversity translates to a varied and thriving business environment.

The province offers a variety of small business grants, loans, and wage subsidies to help entrepreneurs grow and succeed. With key sectors including oil & gas, mining, manufacturing, agriculture, and forestry industries, Alberta provides funding opportunities designed to support innovation, job creation, and expansion.

In this article, we’ll go over our top picks for small business grants, loans, and wage subsidies in Alberta.

Alberta Innovates

Alberta Innovates provides funding to multiple organizations within the Province of Alberta. It supports sectors like Agriculture & Forestry, Clean Technology, Emerging Technology & Data Science, Energy, Environment, Health & Life Sciences, and more. Through its initiatives, Alberta Innovates helps businesses develop cutting-edge solutions, enhance competitiveness, and address challenges in these critical industries.

Learn more about Alberta Innovates’ Funding Programs here.

Alberta Export Expansion Program

For export-ready businesses, the Alberta Export Expansion Program is Alberta’s initiative to enhance international trade. This program supports small and medium sized businesses that promote Alberta exports through international travel to outbound trade events.

Amount: $1,000 to $15,000 per year is reimbursed up to 75% of eligible expenses such as airfare, accommodation, and other goods and services related to export activities.

Who can apply?

To be eligible for funding, applicants must:

• Be an incorporated legal entity in Alberta.
• Be in good standing with the province and fulfill all obligations under previous grant agreements.
• Operate and have a permanent physical presence in Alberta for at least one year.
• Have at least one full-time employee working in Alberta.
• Have traveled internationally from Canada on or after April 1, 2024.
• Have attended an international trade or export-related event and provide proof of registration.
• Have sent Alberta-based travelers to the trade event.
• Disclose all sources of government funding, ensuring it does not exceed 75% of total trip costs (accommodation, flights, event registration, booth, and translation costs).
• Submit the application no later than two months after the first day of the event included in the application.

NRC – Industrial Research Assistance Program (IRAP)

‍The Industrial Research Assistance Program helps small or medium-sized businesses to pursue technological innovation by providing funding to support research and development projects at various stages of the innovation cycle.

‍Amount: Successful applications may get up to 75% of eligible costs to a maximum of $10 million.

‍Who can apply?

• Incorporated, for-profit, small or medium-sized businesses in Canada
• Have 500 or less full-time equivalent employees
• Plans to pursue growth and profit by developing and commercializing innovative, technology-driven new or improved products, services or processes in Canada

Student Work Placement Program

‍The Student Work Placement Program provides wage subsidies to employers across Canada looking to hire post-secondary STEM (science, technology, engineering, or math) interns.

‍Amount: Employers could get up to $5,000 for every student hired through the program or $7,000 for every student hired that is in their first year or is from an under-represented group.

‍Who is eligible?The program is accessible through Employer Delivery Partners that represent multiple industries. To determine your eligibility, visit the program website here.

‍Canada Small Business Financing Program

‍For businesses looking to get more funding, the Canadian Small Business Financing Program (CSBFP) makes it easier for small businesses to get loans they need to grow and expand. By sharing the risk with lenders, the program makes it easier for businesses to secure loans for critical investments like property, equipment, working capital, and more. Amount:

• Maximum term loan of $1 million for the purchase and improvement of real property.
• Of the $1 million, up to $500,000 is available for equipment and leasehold improvements, which includes a maximum of $150,000 for intangible assets and working capital expenses.
• Maximum $150,000 line of credit for working capital expenses.

‍Who is eligible?

‍Start-ups or small businesses with gross annual revenues under $10 million.

‍Need more Alberta small business grants?

‍Looking for more tailored recommendations for your Alberta-based business? GrantFundPro is designed to match users with relevant funding opportunities based on their business profile. Never miss out on funding opportunities by utilizing our advanced AI-powered search tools so you can quickly find grants, loans, tax credits, and wage subsidies that align with your specific needs. Learn more.