This program is designed for businesses like yours in Eastern Ontario. It offers financial support and services to help you grow, improve productivity, and invest in innovation. By participating, you can access funding to expand your business, enter new markets, and create sustainable jobs.

What You Get

• Up to 15% of eligible project costs covered
• Interest-free loans up to $5 million during the project period (up to 4 years)
• Loan forgiveness of up to 30% if you meet investment and job targets
• Grants up to $500,000 for small businesses in rural areas or up to $1.5 million for strategic projects

Why Apply?

• Boost your business growth with financial support tailored to your needs
• Improve productivity and invest in skills development
• Access new markets and generate a positive regional economic impact
• Easy qualification process with the help of a regional advisor

Being approved for this program means you can make significant investments without the burden of high-interest loans. The support provided can help you achieve your business goals faster and more efficiently.

Type of Financing:

• Loans:

  • Up to 15% of eligible project costs.
  • Maximum loan amount: $5 million.
  • Interest-free during the project period (up to 4 years).
  • Up to 30% of the loan (to a maximum of $500,000) may be forgiven if investment and job targets are met.

• Grants:

  • Available in specific circumstances.
  • Up to 15% of eligible project costs.
  • Maximum grant amounts:
    • $500,000 for companies with fewer than 100 employees in rural Ontario.
    • $1,500,000 for strategic projects that are foreign direct investments or competing against other jurisdictions.

Eligible Expenses:

• Business growth initiatives.
• Productivity improvements.
• Innovation and skills development.
• Market expansion activities.
• Projects that generate broad positive regional economic impact.
• Creation of new, sustainable jobs.

Ineligible Expenses:

• Ongoing operations, maintenance, and capital replacement.
• Refinancing existing business operations.
• Acquisitions and buyouts.
• Restructuring or relocating within Ontario.
• Primary production, retail, and construction (e.g., residential development).
• Personal services, consulting, electricity generation, waste management/recycling.
• Information and communication services, academic research.
• Stand-alone restaurants and hotels (unless transformative and considered a regional priority).

Fees:

• No specific fees mentioned for the program.

This program offers up to 15% funding for eligible project costs, with a maximum of $5 million. The loan is interest-free for up to 4 years. If you meet your investment and job targets, up to 30% of the loan (up to $500,000) may be forgiven.

You can use this money to grow your business, improve productivity, invest in innovation, and develop new skills. It also supports efforts to enter new markets and create sustainable jobs. This funding can be a significant boost to your business, helping you achieve your goals faster.

Additionally, complementary services and support are available. These include advisory services, help with environmental compliance, assistance in accessing skills and talent, and information on leveraging tax credits. These services are available throughout your project, regardless of the funding outcome.