Funding support available to businesses dealing with tariff implications

The Province of PEI is launching new initiatives to further support Island businesses through marketing and export trade efforts, as well as loan assistance for operational needs.

The Export Enhancement and Diversification Assistance Program, offered through Innovation PEI,
will cover up to 60 percent of costs (to a maximum of $32,000) associated with promotion, marketing, and exploration of new global export opportunities for Island businesses that rely on exporting their products and services.

The Tariff Working Capital Assistance Program, offered through Finance PEI, is being offered to provide working capital financing to Island businesses impacted by tariffs to ensure that operations can be maintained, jobs can be preserved and to help impacted organizations invest in market and supply chain alternatives. Eligible applicants can apply to receive up to $500,000 over six (6) years at a fixed rate of 4%, with principal payments deferred for 12 months.

“The decisions being made at an international level will have real impacts to our local landscape and will create immediate challenges for our Island business community. Our entire department is committed to working collaboratively to assist where we can so that our Island business operators can continue to evaluate the impacts and their needs as they arise.”

- Minister of Economic Development, Innovation and Trade Darlene Compton.

Island businesses are reminded to share their tariff response plans through the PEI Export Enhancement and Diversification Survey (link is external)to assist in provincial trade enhancement and diversification support programs. The feedback collected will help enhance and develop future support as needs are identified and serve as a contact point for invitations to participate in future trade missions.

Funding for both the Export Enhancement and Diversification Assistance Program and the Tariff Working Capital Assistance Program will be available until March 31, 2026.

More information regarding the province’s response to the ongoing tariff situation, including up-to-date news from both federal and provincial governments, as well as the Export Enhancement and Diversification Survey, can be found at PEI Tariff Response.   (link is external)

Media contact:
Kip Ready
Senior Communications Officer
kjready@gov.pe.ca (link sends e-mail)