This Canadian government funding program provides financial assistance to the private sector. Their goal is to help bring new jobs and economic prosperity to the North. The Northern Ontario Heritage Fund Corporation (NOHFC) do this by supporting projects aimed at creating jobs and help position small and medium-sized businesses for success. The maximum financial assistance granted in this Ontario government funding program would generally not exceed 50% of eligible costs, up to $1 million. The funding may be in the form of a conditional grant with the remainder in the form of a repayable loan. Additionally, any costs incurred prior to the approved project start date will not be eligible for these business funding grants and loans.
Who is Eligible for Ontario Government Funding?
Eligible sectors that could receive funding for small business include but are not limited to:
- Forests products
The following are eligible costs under the Enterprises North Job Creation Program:
- Land servicing
- Staff training
- Intellectual capital
- Purchase of new or used equipment
- Capital construction costs related to the establishment or expansion of a business
- Leasehold improvements
The approved projects should not unreasonably impact existing Northern Ontario businesses and should results in net economic benefits for Northern Ontario.
North Job Creation Additional Ontario Government Funding Resources
View the articles listed below for additional information on this Ontario business grants and loans program:
Ontario Government Funding Support
If you are interested in learning more about government funding tools and opportunities, please contact Mentor Works, the Canadian Government Funding Experts. Businesses can also receive current updates on these small business funding programs by following us on Twitter or signing up for a 60 Minute Government Funding Workshop.