Skills Development Fund — Capital Stream
Highlights
This program is designed for businesses like yours to enhance or build new training centres. It offers funding for renovations, retrofits, expansions, repairs, building conversions, and new construction. This can help you create or improve spaces to train people for in-demand jobs in critical sectors such as skilled trades, healthcare, and information technology.
Why apply?
- Access significant funding to upgrade or build training facilities.
- Support for emerging and in-demand jobs, ensuring your business stays competitive.
- Government-backed financing, which can be more flexible and reliable than other loans.
What's in it for you?
- Increased training capacity to meet labor market demands.
- Enhanced ability to attract and retain talent.
- Potential for long-term growth by addressing skills gaps in your industry.
Qualifying is straightforward, and being approved can significantly boost your business's capabilities and future prospects.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Facility renovations
- Retrofits
- Expansions
- Repairs
- Building conversion
- New building construction
Use of Funds:
- Funds can be used to support upgrades or construction of training centres for skilled trades and other in-demand jobs.
Restrictions:
- Funds cannot be used for operational costs, salaries, or any expenses not directly related to the construction or renovation of training centres.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be an employer in Ontario.
- Must be a minister-approved, non-college apprenticeship program training delivery agent.
- Must be a non-profit organization, including Indigenous band offices and Indigenous Skills and Employment Training agreement holders.
- Must be a professional, industry, or employer association.
- Must be a trade union or union-affiliated organization.
- Must be a municipality.
- Must be a hospital.
- Must be a District Social Services Administration Board.
Must be a Consolidated Municipal Service Manager.
Disqualifications:
- Educational organizations not listed as eligible partners.
Description
The Skills Development Fund Capital Stream offers your business a chance to receive funding to build or upgrade training centres. You can get money to renovate, expand, or repair your facilities. You can even convert an existing building into a training centre or construct a new one.
This funding can be used for:
- Facility renovations
- Retrofits
- Expansions
- Repairs
- Building conversion
- New building construction
The goal is to help train people for jobs that are in high demand in Ontario, such as skilled trades, healthcare, and information technology. This program is designed to increase training capacity and help fill talent gaps in critical sectors.
The funding does not need to be paid back, making it a valuable opportunity to improve your training facilities without financial strain. This can help your business grow by ensuring you have a well-trained workforce ready to meet industry demands.
Program Steps
Register for an Account: Create an account on the official application portal. This will allow you to start and manage your application.
Complete the Online Application Form: Fill out the required fields in the application form. Ensure all information is accurate and up-to-date.
Prepare Documentation: Gather the following documents to support your application:
- Business registration or incorporation documents
- Financial statements (e.g., balance sheet, income statement)
- Project plan detailing the scope, timeline, and budget
- Proof of ownership or lease agreement for the property
- Quotes or estimates for renovations, retrofits, or construction
- Any relevant permits or approvals
Upload Documents: Submit the prepared documents through the application portal. Ensure all files are clear and legible.
Review and Submit Application: Double-check all entered information and uploaded documents. Once confirmed, submit your application for review.
Monitor Application Status: Regularly check your account for updates on the status of your application. Respond promptly to any requests for additional information.
Await Notification: You will be notified whether your application is successful or unsuccessful. Follow any further instructions provided in the notification.