Discover the U.S. government’s most popular business loan program


Entrepreneurs and business owners in the United States are rejoicing at the news that the Small Business Administration’s (SBA) 7(a) Loan Program – the most popular loan program for SMEs – will see its loan guarantee budget increased to $23.5 billion this year.

The increase was approved by the Senate late last week after the SBA announced that it had reached its loan guaranty limit under the program for fiscal 2015. Without the increase, all new lending activities would have been suspended until October 2015, when the new fiscal year is set to start.

The SBA reports that it has seen unprecedented demand for the program in recent months. Between January and late July of this year, it had already approved more than 45,000 loans, representing a total disbursement of $16.5B. This is a 25% increase over the same period last year.

Quick Facts about the Program

  • The 7(a) Loan Program is the SBA’s primary program.
  • It helps finance startups and small businesses that can’t get financing from other sources or from a lender that requires an SBA guarantee.
  • Applicants benefit from increased flexibility, longer terms and the potential of lower down payments.
  • The Program operates via loan guarantees. Financing is provided by traditional lenders, but if the applicant defaults on the loan, then the SBA repays a portion of the loan.
  • Eligible activities/costs supported by the Program include startup costs, equipment, inventory, and working capital.

Access all sources of U.S. federal and state incentives by using The Funding Portal SEARCH Tool.

Green building cleantech companies to pitch in SDTC virtual forum


If your business is developing a technology that is applicable to green buildings, then Sustainable Development Technology Canada (SDTC), Canada’s leading cleantech funder, invites you to join an upcoming workshop to pitch your technology to industry stakeholders.

Examples of Eligible Technologies

  • Building Integrated Renewable Energy
  • Low-Energy Distribution Systems (HVAC, Lighting, etc.)
  • Distributed Generation
  • Passive Energy Systems
  • Solar-Powered Absorption/Adsorption Chillers
  • Next Generation Geothermal Systems
  • Integrated Equipment Efficiency and Renewable Energy Control Systems
  • Biomass Cogen & District Heating
  • Next Generation Thermal Storage

Quick Facts

  • The virtual pitch session (Green Building Workshop) will take place on Sept. 18.
  • Applications are due Aug. 14.
  • The workshop is designed to help cleantech companies access funding and industry partners to support their commercialization efforts.
  • Information will be provided to applicants on SDTC’s funds, the application process and key evaluation criteria.
  • SDTC is working in collaboration with Athabasca University and Brantwood Consulting on this workshop.

Access additional sources of funding for your cleantech business by ordering a custom FundingSources Report through The Funding Portal.

Goverment Funding Awards – Who Got Funded this Week


Overall Disbursements. Funding from federal and provincial governments reached $694.9M this week, compared to $449M last week.

Top Sector. Arts, Culture and Community is the top sector for the second week in a row, attracting $571M, 76% of the total amount disbursed.

Top Region. Prince Edward Island is the top province this week, attracting 39% of the total amount disbursed.

Top Recipients in Ontario.

  • Industry. Therapure Biopharma receives $20M from the federal Advanced Manufacturing Fund to accelerate the design, development and commercialization of its PlasmaCap Expanded Bed Adsorption technology.
  • Universities. Centennial College receives $18.4M under the New Building Canada Plan to open its Downsview Park Aerospace Campus.
  • Charities, Non-Profits & Public Sector. Communitech receives $9.7M over five years from the Canada Accelerator and Incubator Program (CAIP) to support local entrepreneurs in the Kitchener-Waterloo region.

Funding Disbursed by Industry Sector.


Funding Disbursed by Province.


Order The Funding Portal’s LeadGeneration Report today to learn which companies received funding.

Toronto’s photo marketplace 500px raises $13M for expansion to China


500px, a Toronto-based photo community and marketplace, secured $13M in Series B financing from Visual China Group, Andreessen Horowitz, Harrison Metal, and ff Venture Capital, the company announced last week.

Quick Facts

  • 500px is a photo community and marketplace that lets people share and buy photographs.
  • The platform was developed in the early days of digital photography and has undergone a number of changes to keep up with the demands of technology, while focusing on providing the highest quality photos.
  • Over the last year, the 500px community has grown to more than six million people who uploaded more than 55 million images.
  • Funding will be used to support the rapid growth, marketing and operational team. Long term, the 500px team will be growing the global user base by fuelling international expansion, specifically to China and the Asia Pacific region.

Learn more about securing capital for your business through the Portal’s Capital Markets services.

Capital Market News Roundup – Week of July 20

  • Healthtech
    • Perimeter Medical Imaging secured $5M in Series A financing from an undisclosed investor.
    • Sequence Bio secured $300k in VC from Venture Newfoundland and Labrador, as well as $200k from Klister Credit Corporation.
  • Media
    • Toronto’s Checkout 51 will be acquired by News America Marketing, a subsidiary of News Corp.
  • Tech
    • 500px secured $13M in Series B financing from Andreessen Horowitz, ff Venture Capital, Harrison Metal, and Visual China Group.
    • Benevity secured $29.3M in Series A financing from JMI Equity.
    • Clover secured $2M in VC from Social Starts.
    • GroupBy Inc. secured $3M in VC from BEST Funds.
    • Procurify secured $4M in seed financing from BDC, Nexus Venture Partners, Point Nine Capital, Ryan Holmes, and Steve Johnson.
    • UrtheCase received $157k via a convertible note from an undisclosed investor.
    • Viafoura received $1M in undisclosed financing from China Canada Angels Alliance.

QP Briefing. Ontario backs supply management in Pacific trade talks

By Geoff Zochodne

Trade partners may have to pry Canada’s supply management system from its cold, dead hands – and Ontario could be okay with that.

Negotiations are continuing on the Trans-Pacific Partnership, a 12-nation trade agreement covering a market of more than 800 million consumers, Canada included. According to some recent reports,(1) U.S. trade officials and politicians have begun leaning on Canada to loosen its supply management system for the TPP, particularly for dairy products.

The Dairy Farmers of Ontario estimate(2) the province’s farmers churn out $1.8 billion worth of milk a year. Prior to a Cabinet meeting Wednesday, Ontario Agriculture Minister Jeff Leal said the Liberal government is “totally committed to supply management.”

Leal called supply management, “one of the best economic models ever designed for the agriculture sector in the province of Ontario and indeed throughout Canada.”

Leal offered a similar view to website iPolitics earlier this week(3). On Wednesday, he again credited supply management for propping up Ontario farmers during the mad cow (or BSE) crisis a decade ago. “If it hadn’t have been for supply management, a lot of rural Ontario would have collapsed during those very difficult times for our cattle farmers.”

Whether Canada’s negotiators will wilt under pressure from TPP trade partners remains to be seen. Federal International Trade Minister Ed Fast’s office told The Globe and Mail(4) they “won’t be bullied into negotiating this through the media.”

TPP trade officials are meeting in Maui, Hawaii from July 24 to July 27, followed by a ministerial meeting July 28-31.

Leal said the provinces haven’t been involved in any discussions regarding TPP, but added that a recent meeting of federal, provincial and territorial agriculture ministers produced a statement(5) backing supply management.

“Ministers reaffirmed support for developing new markets around the world for Canadian products, including through the Trans-Pacific Partnership, while continuing to preserve the integrity of the supply management system,” stated the communiqué.

“Continued federal-provincial-territorial collaboration is crucial to ensuring that billions in strategic investments translate into real benefits for our producers and processors through more innovation, improved competitiveness and access to new markets,” said a statement from federal Agriculture Minister Gerry Ritz, who co-chaired the meeting of ministers.

Other federal politicians, including NDP Leader Tom Mulcair, have also confirmed their support(6) for the supply management system.

Canada’s supply management system controls the price of milk, cheese, eggs and poultry, as well as sets quotas and limits imports with high tariffs. While it may benefit farmers, critics claim the system drives up the prices of those goods, costing Canadians more for dietary staples.

Leal has also called on Ottawa to offer compensation to dairy farmers affected by the un-ratified Canada-European Trade Agreement. CETA, as it’s known, would permit 17,700 additional tonnes of European cheese to come to Canada’s shores.

Leal said the federal government suggested it was committed to compensating dairy farmers for the European influx.

“We’re still waiting,” said Leal. “The federal government has not engaged the provinces on what that compensation would look like. And as I said just recently, before we enter into any new trade deals we’ve got to solve the issues related to the previous trade deals.”


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