The objective of the Southern Interior Development Initiative Trust is to help grow and diversify the economy of the Southern Interior of British Columbia through economic development initiatives in the following sectors: Agriculture, Economic development, Energy, Forestry, Mining, Pine Beetle recovery, Small Business, Tourism, Transportation

Funding Types

Grants:

Funding made to support eligible projects with no requirement for financial return to the Trust. Please note that proposals from private interests do not qualify for grants. “Private Interests” include all forms of business ownership such as corporations, partnerships, joint ventures and sole proprietorships.

Loans:

Funding made to support eligible projects in the form of a loan, generally for a term not exceeding five years, subject to principal repayment with interest, and such security terms and conditions as SIDIT deems applicable.

Equity Funding:

Funding made to support eligible projects in the form of an equity interest by the Trust. Generally SIDIT will provide equity funding either directly or indirectly through an investment fund managed by a 3rd party or in syndication with private or venture equity investors.

Limits:

Subject to matching funding from other sources, the Trust will fund from a minimum of $25,000 to a maximum of $1,000,000 per qualifying for loan or equity investment. Subject to matching funding from other sources, limits for grant funding are from $10,000 to $50,000 per qualifying project. The total annual commitment to grant funding has been set at $750,000. Qualifying projects from non- profit interests may be eligible for combined grant plus loan funding to a maximum $1,000,000.

Eligible Applicants

Eligible applicants include: non-profit societies, institutions, local and regional governments, industry associations, private interests, First Nations, public-private ventures, and improvement districts. Other entities may be considered. Multi-stakeholder partnerships are encouraged. Applicants must demonstrate that they have the legal authority, capacity and approval to enter into and execute a contract.

Eligible Costs

The following are examples of costs that SIDIT funds may be applied to:

1. Properly and reasonable incurred costs necessary for the implementation of the project.
2. Other direct and necessary costs for the successful implementation of the project and that have been approved in advance as part of the project budget and as set out in a Contribution Agreement.
3. For capital projects, the costs of new construction or renovation of fixed capital assets.
4. Fees for professionals and consultants specifically engaged to undertake the surveying, design, engineering, and interpretation, in support of the construction of a capital project. 5. The cost of environmental assessments and permits.
   
   

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