This program is designed specifically for businesses like yours, offering a unique opportunity to secure essential funding. With up to $1,000,000 in financing, you can make critical purchases that will help your business grow and thrive. Additionally, you can receive an extra $150,000 for software or day-to-day operating costs, ensuring you have the resources to manage your operations smoothly.

Key Benefits:

• Up to $1,000,000 in financing
• An additional $150,000 for software or operating costs
• Funds can be used for operating expenses, restorations, new equipment, software, and more

This loan stands out because it is backed by the government, providing you with more security and flexibility. You can choose how to repay it, with up to 15 years to do so. Approval for this program can significantly enhance your business's financial stability and growth potential. The qualification process is straightforward, making it easier for you to access the support you need.

Type of Financing:

• Contribution Grant: You could receive a non-repayable contribution to cover some project costs if your SME or non-profit is working on initiatives to enhance environmental sustainability, boost productivity, enhance commercialization, or integrate with regional and global supply chains.

Repayment Terms and Interest Rates:

• Non-repayable grant, meaning you are not required to pay back the funds received.

Eligible Expenses:

• Costs incurred for making your business more environmentally friendly, enhancing productivity, strengthening commercialization efforts, or integrating with regional and global supply chains.

Ineligible Expenses:

• The funds cannot be used for expenses unrelated to the approved project objectives or for any personal or non-business-related expenses.

Fees:

• No fees associated with the program, as it is a non-repayable grant.

If your business is working on a project to become more environmentally friendly, improve productivity, strengthen commercialization, or integrate with regional and global supply chains, you could get a contribution to help with some of the costs.

You can receive funding to cover part of your project expenses. This money can be used for various purposes, such as upgrading equipment, improving processes, or expanding your market reach.

There are no payback requirements for this contribution, making it a valuable opportunity to enhance your business without the burden of repayment. This program is designed to support your growth and sustainability efforts, providing a financial boost to help you achieve your goals.

1. Visit the Program Website: Go to the official website of the Federal Economic Development Agency for Northern Ontario (FedNor) to access the application portal.

2. Create an Account: Register for an account on the application portal. This will allow you to save your progress and return to the application if needed.

3. Complete the Online Application Form: Fill out the online application form with accurate information about your business. This includes details about your business operations, financial status, and the purpose of the funding.

4. Prepare Required Documentation: Gather and prepare the necessary documents to support your application. You will need:

• Business Plan
• Financial Statements (last two years)
• Tax Returns (last two years)
• Proof of Business Registration
• Project Proposal (detailing how the funds will be used)
• Quotes or Estimates for Project Costs

5. Upload Documentation: Upload the prepared documents to the application portal. Ensure all files are clear and legible.

6. Review and Submit Application: Carefully review your application and the uploaded documents. Make sure all information is correct and complete. Once satisfied, submit your application through the portal.

7. Confirmation and Follow-Up: After submission, you will receive a confirmation email. Keep this for your records. Monitor your email for any follow-up requests or additional information needed from FedNor.

8. Await Decision: FedNor will review your application and documentation. This process may take several weeks. Be prepared to provide any additional information if requested.

9. Approval and Agreement: If your application is approved, you will receive an approval notification. Review the terms and conditions of the funding agreement. Sign and return the agreement to proceed.

10. Receive Funds: Once the agreement is finalized, the funds will be disbursed to your business. Use the funds as outlined in your project proposal.

11. Reporting and Compliance: Follow any reporting requirements set by FedNor. This may include progress reports and financial statements to ensure compliance with the program’s guidelines.