The Canada Council for the Arts offers grants to professional Canadian musicians that can be used to make sound recordings, as well as grants that cover other aspects of a musician's career. Funding is available for individuals, groups and collectives. Applicants should read the eligibility requirements for the available grants carefully to determine which one best suits her needs. Keep in mind that several of the grant programs, such as the Music Touring Grant, cannot be used for recording.
The Canada Music Fund (CMF) was created by the federal government to uphold the goals of the Canadian Sound Recording Policy. The CMF oversees five component programs, four of which can be used for sound recording. This includes the New Musical Works Component, aimed at individuals or groups, as well as Canadian record labels, music publishers and others involved in creating music or promotion of the Canadian music industry. All CMF programs are administered by other organizations, such as FACTOR and Musicaction. Information on the programs, applications and contact information can be found on the CMF's website (see below).
Check with the provincial government of the province you're based in for information on their programs to support the arts. Most provinces will offer some assistance. For example, the Ontario Media Development Corporation's OMDC Music Fund is a grant program for independent record companies and other music industry businesses based in Ontario.
According to Katrina Rice, program officer for the Newfoundland and Labrador Arts Council, there are several options for resident recording artists in need of funding. "The most applicable program for individual musicians and music groups is the Professional Project Grants Program," Rice says. "[Applicants] should review the various grant program outlines and application forms on the Newfoundland and Labrador Arts Council website to see which programs best suit their project."
FACTOR offers a broad range of grants to musicians and organizations, such as record labels. For musicians, they have grant programs for recording demos, singles, EPs and full length albums. They also offer grants for recording videos and DVDs. Before you apply, make sure that you have all of the required documents and fit the eligibility criteria for the grant you're applying for.