Ontario Made
Highlights
This program is designed for businesses like yours, offering a unique opportunity to grow and thrive. By participating, you can access up to $1,000,000 in financing, with an additional $150,000 available for software or daily operating costs. This funding can be used for a variety of needs, including operating expenses, restorations, new equipment, and software.
Key Benefits:
- Flexible repayment options: Choose how you pay back the loan, with up to 15 years to do so.
- Government-backed security: This loan is backed by the government, providing you with peace of mind and stability.
- Increased exposure: Promote your products more effectively with the Ontario Made logo, gaining visibility and consumer trust.
Applying for this program is straightforward, and qualifying is easier than you might think. Approval can provide the financial boost your business needs to expand, innovate, and succeed.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Purchase of new equipment.
- Leasehold improvements.
- Research and development costs.
- Marketing and promotional activities.
- Employee training programs.
Ineligible Expenses:
- Debt refinancing.
- Routine operational expenses.
- Purchase of real estate.
- Salaries of existing staff.
Fees:
- No application fees.
- No processing fees.
Qualifications
- Must be a manufacturer located in Ontario.
- Must produce goods within Ontario.
Must be willing to use the Ontario Made logo to promote local products.
Disqualifications:
- Businesses not located in Ontario.
- Businesses that do not manufacture goods within Ontario.
Description
This program is designed to support your business by providing financial assistance up to $1,000,000. You can use this money to buy new equipment, upgrade your facilities, or cover other essential costs.
Here's how you can use the funds:
- Up to $500,000 for purchasing equipment like commercial kitchen appliances, manufacturing machinery, or computers.
- Up to $500,000 for improving your rented space, such as renovating a retail area.
- Up to $150,000 for software or operational costs to keep your business running smoothly.
The government guarantees 85% of the loan, giving you a significant safety net. You also have flexible repayment options, including variable or fixed interest rates, or a combination of both. You can take up to 15 years to repay the loan, making it easier to manage your finances.
This program is a great opportunity to invest in your business's growth and stability.
Program Steps
Gather Required Documentation:
- Business registration details
- Financial statements (last two years)
- Business plan
- Proof of Ontario-made products
- Any relevant certifications or licenses
Complete the Application Form:
- Fill out the application form provided on the program's website.
- Ensure all sections are completed accurately.
Submit the Application:
- Upload the completed application form and required documentation.
- Double-check for any missing information or documents.
Await Confirmation:
- You will receive an email confirmation once your application is submitted.
- The program administrators will review your application.
Respond to Any Follow-Up Requests:
- Be prepared to provide additional information if requested.
- Respond promptly to any inquiries from the program administrators.
Receive Approval:
- If your application is approved, you will receive a notification.
- Follow any further instructions provided to finalize your participation.
Implement Program Benefits:
- Utilize the program resources and support as outlined in the approval.
- Monitor your business progress and ensure compliance with program requirements.