Investing in Business Growth & Productivity: Ontario Small Business Funding
Please Note: IBGP is closed. Please consider the Business Scale-up and Productivity program for similar support.
Administered by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Investing in Business Growth & Productivity (IBGP) is one of core programs which comprise the $530 million Southern Ontario Prosperity Initiatives (SOPI) running from 2014-2018. IBGP has a stream uniquely tailored to Ontario businesses invested in job growth and business expansion activities. Investing in Business Growth & Productivity provides small and mid-sized enterprises (SMEs) with 25% of eligible expenses up to $20 million in repayable government funding for activities such as facility expansion, adoption of new technologies or processes to improve productivity, and the increase of production capacity to expand into new export markets. All projects should link to long-term job creation.
Company Eligibility for Investing in Business Growth & Productivity Ontario Small Business Loans
To become eligible for IBGP Ontario government funding, SMEs must be:
- A federally or provincially incorporated business;
- Headquartered in southern Ontario;
- Financially stable with a minimum two years of financial documentation;
- Able to finance 75% of the proposed project with company contributions;
- Able to show evidence of the project’s total cost estimates;
- Employing 15-1000 full-time staff;
- Willing to participate in global markets; and
- Able to create long-term jobs in the region.
To learn which projects and costs are eligible through FedDev Ontario’s Investing in Business Growth & Productivity small business funding, visit Mentor Works’ IBGP for SMEs eligibility blog.
Success Stories for Investing in Business Growth & Productivity Ontario Government Funding
- Mentor Works’ client Artisan Metal Finishing was awarded nearly $1 million to expand their shop floor by 11,000 square feet. The government funding was also used to fill this space with new equipment and production lines, enabling their expansion into new markets.
- Starlim North America, a manufacturer for innovative products, received up to $4 million to support facility expansion, the addition of new product lines, and the creation of 20 new full-time jobs.
- MiMi Foods, a Vaughan-based producer of premium dough products, has been provided with up to $950,000 for enhancements to their production facilities. This Ontario government funding win will allow the company to expand production, acquire new customers across Canada and the United States, and sell directly to the food service industry.
Learn More about Investing in Business Growth & Productivity Government Loans Ontario
Please use the buttons below to learn more about eligibility factors, frequently asked questions, or how to apply.
Get Started Eligibility Criteria FAQ
Resources for Small Businesses Expanding Production Abilities
Canadian government funding is available for a variety of businesses across all of the nation’s provinces. If you’re interested in upscaling your production abilities, view Mentor Works’ comprehensive list of small business funding programs and learn more about their unique characteristics. To decide if IBGP or its sister program Investing in Business Innovation is right for your business, view our infographic comparing the two programs. Many business owners also choose to participate in Mentor Works’ informative government grants and loans webinars, where a Canadian Government Funding Expert will explain the similarities and differences of each funding program.