Program Supporting the Development of Tourist Attractions — Stream 1 ### 📋 Eligible Entities - For-profit businesses operating in the tourism sector - Sole proprietors with established tourism operations - Partnerships engaged in tourism development - Corporations (private and public) in tourism-related industries - Co-operatives focused on tourism attractions or services - Tourism operators with demonstrated capacity to repay or secure loan guarantees - Entities must be located in eligible regions designated by the program ### 💰 Funding Details - Loan Amount Range: $150,000 to $5,000,000 - Coverage: Up to 70% of eligible project costs - Funding Structure: Available as either: - Direct loan, or - Loan guarantee (reduces lender risk) - Repayment Terms: Subject to standard commercial lending practices and negotiation with participating lenders - Interest Rates: Market-based rates determined by lending institutions - Applicant Contribution: Minimum 30% of total project costs (own funds, equity, or other financing) ### 🛠️ Approved Expenses - Construction or renovation of tourist attractions - Development of new or enhanced tourism facilities and infrastructure - Equipment and technology purchases to improve visitor experience - Signage and wayfinding installations - Marketing and promotional activities for tourism destination development - Accessibility improvements to attract broader visitor demographics - Environmental and heritage conservation projects with tourism value - Professional services (engineering, design, consulting) directly related to project development ### ⚠️ Conditions & Milestones - Regional Focus: Project must demonstrate capacity to attract tourists from outside the immediate region (domestic and international markets) - Business Plan Requirement: Submit detailed project proposal with market analysis and financial projections - Repayment Capacity: Applicant must demonstrate financial viability and ability to service debt - Security: Lender may require collateral or personal guarantees depending on loan structure - Project Completion: Funds must be deployed within agreed timeline; milestone payments may apply - Compliance: Adherence to all environmental, labor, and regulatory standards - Reporting: Regular financial and