- What is Fundingportal?
Fundingportal is a comprehensive service helping companies like yours to get government and private sector funding. More >
- What are Government Grants and Contributions?
Often referred to as “Gs & Cs,” grants and contributions are government funding assistance to businesses or organizations to support specific commercial and industrial policy objectives.
- What types of funding programs are included in Fundingportal’s searches and services?
Fundingportal provides access to grants, contributions, vouchers, wage subsidies, tax credits, business incentives, equity, loans, and venture debt.
- Why use Fundingportal?
Fundingportal takes time and complexity out of finding funding. On average, businesses spend 12 days and $14,000 in out-of-pocket costs researching funds each year, compared to 2.4 hours and $5000 with Fundingportal.
- How much funding is paid out each year through government funding programs?
Fundingportal estimates that Canadian governments disburse approximately $27B in incentives each year, while American governments disburse $180B annually.
- Are there funding opportunities available for my business?
Yes, try Fundsearch or order a report.
- How does Fundingportal match its experts with applicants?
Fundingportal brings together some of Canada’s foremost funding experts in government grants and private financing, many drawn from respected federal, provincial and municipal government funding agencies. Fundingportal matches applicants with the most relevant expert based on industry sector, location and funding objectives.
- Can I apply to more than one incentive program?
Yes, you can apply for all the government funding programs for which you meet the requirements. If approved, you may need to demonstrate what percentage of your project has received funding from another program.
- Do government grants and contributions need to be repaid?
Under some government funding programs, a contribution may need to be repaid.
- Does Fundingportal sell government information?Fundingportal is a national bilingual online portal that provides all Canadians with free access to more than 15,000 federal, provincial and municipal government funding programs, tax incentives and private financing opportunities through its unique Fundsearch tool.
- Are “success fees” or “contingency-based billing” allowed? Does Fundingportal link payment of client fees to the success of the funding application in any way?
Fundingportal complies with the legal and regulatory environment governing government funding. Modest work fees are preferred by most applicants. Outcome-oriented fees can apply where permitted in law and agreed to by the parties:
(1) Tax incentive programs administered by the Canada Revenue Agency, such as SR&ED, allow for contingency-based billing or “success fees”, as they are often called. Many service providers do in fact charge clients on this basis, requiring payment if and when tax incentives are received by the applicant.
(2) Many grants and contributions programs require applicants to state that they will not use their government funding to pay for professional services associated with the application process. The funds are to be used to finance the approved project itself and not the application process.
(3) Fundingportal never collects fees from the amount received by the applicant from the government funding program.
(4) Outcome-oriented fees can apply where permitted in law and agreed to by the parties.
- Does Fundingportal guarantee that my project will get funded?
While our data suggests that your funding outcomes will improve by using Fundingportal, we cannot guarantee results and much will depend on the quality of the project, team and supporting information that the applicant is able to put forward. We provide a valuable professional service and our clients accept that our fees are fair and payable for working with them to make their application the best it can be.
- What are your payment policies?
Our policies can be summarized as follows:
(1) All work fees and supplementary fees are agreed to in advance, and set out in an invoice and/or contract.
(2) Work fees are collected prior to service delivery.
(3) Outcome-oriented fees are paid where permitted in law and agreed to by the parties.
(4) All clients receive a receipt after payment is received.
(5) No refunds are provided once payment has been received.
These practices are consistent with those adopted by reputable professional firms, worldwide.
- What are the benefits of work fees relative to contingency fees?
Contingency fees are higher than work fees. Here’s a comparison:
|Company is Seeking||Contingency Fee Model||Work Fee Model|
|Tier 1 Level Funding ($10k-$100k)||$15,000 fee (Most firms charge 15%)||$5,000 fee|
|Tier 2 Level Funding ($100k-$1M)||$100,000 fee (Most firms charge 10%)||$15,000 fee|
|Tier 3 Level Funding ($1M-$10M)||$800,000 fee (Most firms charge 8%)||$20,000 fee|
|Tier 4 Level Funding ($10M+)||$1.2M fee (Most firms charge 6%)||$25,000 fee|
- Why would someone pay $800,000 for Tier 3 level funding when they could only pay $20,000?
Work fees are up-front fees—they are suitable for companies that make informed assessments as to their chances of success and therefore are willing to pay a small amount upfront where they feel they have a good chance of success. Fundingportal provides companies with custom services so they can review reliable data and make informed assessments about the top sources of funding for their company, how much funding they can expect to receive from these sources, and the likelihood that their company will get funded. Then companies can feel confident paying a small work fee or contingency fees.
- Why do some companies agree to pay contingency fees?
Companies that are raising their first round of funding often have no money at all, and can only pay for services if they receive funding. Others are highly uncertain that they will get funded and prefer to pass that risk to a service provider. Companies in these circumstances pay higher fees, but the contingent aspect of the fees can make this the right choice for some.
- How can Fundingportal provide quality services at such a reduced work fee?
Fundingportal leverages data to help companies improve their funding decisions and outcomes, and uses online tools to avoid expensive office infrastructure and overhead costs, and deliver very significant savings to companies looking for funding.
- What are the accepted payment methods?
Fundingportal accepts payments via credit card and cheque. PayPal payments are also accepted, but a 5% surcharge will apply. Payments must be made prior to service delivery.