Fundingportal FAQ

  1. What is Fundingportal?
  2. What are Government Grants and Contributions?
  3. What types of funding programs are included in Fundingportal’s searches and services?
  4. Why use Fundingportal?
  5. How much funding is paid out each year through government funding programs?
  6. Are there funding opportunities available for my business?
  7. How does Fundingportal match its experts with applicants?
  8. Can I apply to more than one incentive program?
  9. Do government grants and contributions need to be repaid?
  10. Does Fundingportal sell services?
  11. 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?
  12. Does Fundingportal guarantee that my project will get funded?
  13. What are your payment policies?
  14. What are the benefits of work fees relative to contingency fees?
  15. Why would someone pay $800,000 for a $10M application when they could only pay $15,000?
  16. Why do some companies agree to pay contingency fees?
  17. How can Fundingportal provide quality services at such a reduced work fee?
  18. What are the accepted payment methods?
  1. What is Fundingportal?
    Fundingportal is North America’s leading subscription and SaaS (Software-as-a-Service) provider that helps businesses and organizations to get funded. More >
  2. 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.
  3. What types of funding programs are available via Fundingportal‘s Fundsearch tool?
    Fundsearch provides access to grants, contributions, vouchers, wage subsidies, tax credits, government incentives, foundation grants, equity, loans, and venture debt.
  4. 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 low-cost annual subscription fees with Fundingportal.
  5. How much funding is paid out each year through government funding programs?
    Fundingportal estimates that Canadian governments disburse approximately $32B in incentives each year (2019), while American governments disburse US$180B annually.
  6. Are there funding opportunities available for my business?
    Yes, subscribe to find funding today!
  7. How does Fundingportal match its expert grant writers with applicants?
    Funding
    portal brings together some of Canada’s foremost funding experts in government grants, many drawn from respected federal, provincial and municipal government funding agencies. Fundingportal matches applicants with the most relevant grant writer based on their industry sector, location, and funding objectives.
  8. Can I apply to more than one government 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.
  9. Do government grants and contributions need to be repaid?
    Under some government funding programs, a contribution may need to be repaid.
  10. Does Fundingportal sell services?
    Fundingportal sells both subscription and à-la-carte services.
  11. 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?
    Funding
    portal 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.
  12. Does Fundingportal guarantee that my project will get funded?
    While our data demonstrate 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.
  13. 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.
  14. 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 ($10k-$100k) $15,000 fee (Most firms charge 15%) $3000 fee
Tier 2  ($100k-$1M) $100,000 fee (Most firms charge 10%) $6000 fee
Tier 3  ($1M-$10M) $800,000 fee (Most firms charge 8%) $15,000 fee
Tier 4 ($10M+) $1.2M fee (Most firms charge 6%) $15,000 fee
  1. Why would someone pay $800,000 for a $10M application when they could only pay $15,000?
    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 about paying a small work fee or contingency fees.
  2. 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.
  3. How can Fundingportal provide quality services at such a reduced work fee?
    Funding
    portal leverages data to help companies improve their funding decisions and outcomes, and uses online tools to avoid expensive office infrastructure and overhead costs. This enables us to deliver very significant savings to companies looking for funding.
  4. What are the accepted payment methods?
    Funding
    portal accepts payments via credit card, bank transfer, and cheque. Payments must be made prior to service delivery.
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