Hello,

If you're looking to expand your business in Northern Ontario, this program is tailored for you. You can receive up to $400,000 as a contribution, covering 20% of your project costs. Need more? There's an option for a term loan of up to $600,000, adding another 30% to your funding. That's a potential total of $1,000,000 to support your growth.

This funding is versatile. Use it for capital construction, new equipment, or leasehold improvements. You can also invest in information and communications technology or marketing for new products. Even training costs with third parties are eligible, ensuring your team is prepared for expansion. The program aims to create jobs and boost the economy in Northern Ontario, easing the financial load on your business.

Applying is straightforward, and qualifying is within reach. With the right planning, this program can be a significant boost for your business's growth. It's a chance to expand without carrying the full financial burden. Just remember, if you sell any assets financed by the program after completion, you might need to repay some funds. But with careful planning, this can be a fantastic opportunity for your business.

Financing Options:
The program offers two main types of financial support:

• Conditional Contribution: Up to 20% of total eligible costs, capped at $400,000.
• Term Loan: Additionally, you may qualify for a term loan covering up to 30% of total eligible costs, with a maximum of $600,000. Alternatively, a term loan only option is available, covering up to 50% of total eligible costs to a maximum of $1,000,000.

Repayment and Interest Rates:

• The term loan component comes with competitive interest rates and repayment terms tailored to support business growth. Specific terms will be detailed in your funding agreement, reflecting factors such as loan amount, project scope, and expected benefits to Northern Ontario.

Eligible Expenses:
Funds can be used towards:

• Capital construction
• Leasehold improvements
• Purchasing new or used equipment
• Land servicing costs
• Information & communications technology investments
• Marketing for new products and business initiatives (up to a specified limit)
• Training costs incurred with third parties (up to a specified limit)

Ineligible Uses of Funds:
The funds cannot be used for:

• Ongoing operating costs like maintenance
• In-kind contributions
• Restructuring or refinancing existing business operations
• Purchasing or leasing land
• Research and development activities
• Costs related to rolling stock (e.g., vehicles)
• Project management or consulting costs

Fees:
There may be application or processing fees involved, which will be clearly outlined in your funding agreement.

If your business is expanding in Northern Ontario, there's a great opportunity for you to get some financial help. You can receive up to $400,000 as a contribution, which covers 20% of your project costs. If you need more, there's also an option for a term loan of up to $600,000, covering an additional 30% of your costs. This means you could get up to $1,000,000 in total support.

This funding can be used for a variety of things to help your business grow. Whether it's capital construction, buying new equipment, or making leasehold improvements, this program has you covered. You can also invest in information and communications technology or even marketing for new products. Training costs with third parties are also eligible, making sure your team is ready for the next step.

The program is designed to help businesses like yours create jobs and bring economic benefits to Northern Ontario. It's a chance to boost your operations without the full financial burden falling on your shoulders. Just remember, if you sell any assets financed by the program after the project is done, you might need to pay back some of the funds. But with the right planning, this program can be a fantastic stepping stone for your business's growth.