Advanced Manufacturing Fund Ontario Business Loans – Now Receiving Applications

bigstock-aerospace-gears-and-chain-tit-38691868The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is providing up to $200 million in funding over five years through The Advanced Manufacturing Fund. This Ontario business grants and loans program is aimed at helping southern Ontario organizations that look toward technological innovations, while encouraging projects that provide benefits to manufacturing clusters and supply chains, as well as to projects that will help promote collaboration between research and post-secondary institutions with private sector businesses.

2 Streams of Advanced Manufacturing Fund Business Loans Ontario

Funding for business innovation through the Advanced Manufacturing Fund will be made available through two streams, one for each eligible group:

  1. For-profit organizations: Repayable contributions,
  2. Not-for-profit organizations: Non-repayable contributions,

Advanced Manufacturing Fund Ontario –Organization Eligibility

The Advanced Manufacturing Fund is open to both for-profit and not-for-profit organizations.  In order to be eligible businesses must be either:

  • Manufacturing in Ontario, or;
  • Conducting internal R&D in Ontario but manufacturing outside of the province.

For-profit businesses applying to this program have a sustainable business model and a track record of profitability.

Small Business Loans Ontario –Application Intake

There will be two application intake periods over the next two years:

  • INTAKE 2014: December 9, 2013 – October 1, 2014;
  • INTAKE 2015: January 1, 2015 – October 1, 2015.

Note: Each business can only have one winning application. If you do not win in 2014, you can resubmit in 2015.

Small Business Loans Ontario –Funding Amount

The Advanced Manufacturing Fund has been allotted a total of $200 million over 5 years. The minimum funding amount offered through this small business loans Ontario program is $10 million (up to 50% of eligible expenses). The program has been capped at $20 million.

Advanced Manufacturing Fund (AMF)-Additional Information

You can find out more by selecting from one of the following:

Eligibility-CriteriaAdvanced Manufacturing Fund: Business Funding Grants UpdateGet-Started

Learn More about Small Business Grants and Loans Opportunities for Your Organization

Connect with Mentor Works to learn stay up to date on new government funding programs and funding releases that can benefit your business. Sign up for Mentor Works’ Weekly E-newsletter and remember to follow us on your favourite social media network, including: Twitter and LinkedIn.

Leave a Reply

Your email address will not be published.