Investing in Business Growth & Productivity is offered through The Federal Economic Development Agency for Southern Ontario (FedDev) as a part of their suite of Ontario business grants and loans called Southern Ontario Prosperity Initiatives (SOPIs). This collection of funding programs has been allotted a total of $530 million and applications are now being accepted on a continual basis.
Ontario Small Business Loans – Funding Details
This Ontario small business loans program provides up to $20 million per project to cover as much as 25% of eligible expenses to eligible southern Ontario businesses. This government funding for southern Ontario small businesses has been established to:
- Help scale-up by expanding markets and facilities;
- Increase adoption of new technologies and processes to improve productivity; and,
- Increase business capacity to participate in global markets through market diversification or expanding markets and integration in global value chains.
Investing in Business Growth & Productivity – Company Eligibility
In order to qualify for small business loans through the Investing in Business Growth & Productivity businesses must meet the following criteria:
- Canadian incorporated Businesses, located in Southern Ontario
- Evidence of a minimum of 75 percent cash funding available for the project;
- A sustainable business model and a track record of profitability;
- Potential to become strong global player;
- Appropriate organization and project management and technical skills;
- Evidence of the project’s cost estimates; and
- Capacity to account for and execute the project successfully in a timely manner.
Note: projects must be completed by December 2018. May show preference to certain priority sectors or projects that diversify a regional economy. Projects that are targeted primarily at retail consumer markets will not be considered under this initiative.
Learn More about IBGP Ontario Business Loans
Find out more by choosing from one of the following: