Program Supporting the Development of Tourist Attractions — Stream 2

📋 Eligible Entities - Tourism establishments seeking to renovate or develop attractions - Businesses operating tourist facilities (hotels, resorts, restaurants, museums, entertainment venues, etc.) - Proprietors with operational facilities open to the public - Entities with demonstrated ability to secure private co-funding (minimum 10%) - Applicants must be able to meet loan repayment obligations ### 💰 Funding Details - Loan Amount: $100,000 to $5,000,000 - Coverage: Up to 90% of eligible project costs - Private Contribution Requirement: Minimum 10% of total project costs (applicant or third-party source) - Structure: Term loan (repayable debt, not a grant) - Matching Ratio: 90:10 (government:private funding) - Interest & Terms: Not specified in program description; verify with lender for rate and repayment schedule ### 🛠️ Approved Expenses - Renovation and physical upgrades to tourist facilities - Infrastructure improvements to attractions - Capital expenditures directly related to facility development - Site preparation and construction costs - Equipment and fixtures for operational enhancements - Note: Focus is on capital/renovation projects; verify if operational or marketing costs qualify ### ⚠️ Conditions & Milestones - Co-funding Requirement: Must secure and document minimum 10% private contribution before approval - Eligible Cost Threshold: Total project costs must justify loan between $100K–$5M range - Loan Repayment: Applicant assumes full debt obligation; funds are not a grant - Project Scope: Renovation must enhance tourist attraction viability - Operational Status: Facility should be operational or have clear reopening timeline - Documentation: Prepare detailed project budget, private funding commitment letters, and business case - Approval Process: Subject to lender assessment of repayment capacity and project feasibility