The primary focus of Eastern Ontario Development Fund (EODF) Business Stream is to provide financial support to Canadian SMEs looking to expand their operations and create jobs for communities in Eastern Ontario. Funding is suited to accommodate projects that will involve investing in new capital equipment, improving existing operations and processes, and pursuing new market opportunities.
- Amount: Up to 10-15% of eligible expenses, up to a maximum of $1.5 million in non-repayable grant funding for projects with budgets up to $10 million. Projects with budgets that exceed this amount may be eligible to receive a repayable government loan of up to $5 million; up to 1.5M of the loan and interest can be forgiven if project performance targets are hit.
- Timeline: Open.
- Eligibility: Applicants must have been established for at least 3 years, have 10 or more full-time employees, and be located in Eastern Ontario. Projects must be completed within a 2-4 year timeline and create at least 10 new full-time positions.
Note: Small Community Pilot Stream: Small businesses with 5-10 employees in communities with a population of 20K or less who meet the eligibility requirements of SWODF with the following exceptions: Investment of $200K over 4 years and 50% increase in number of employees.
EODF Regional Stream
The Eastern Ontario Development Fund offers a Regional Stream of funding to support initiatives initiated by communities to develop new economic opportunities through encouraging collaboration and clustering, attracting new businesses, and creating and sustaining jobs. Sectors eligible for funding under this stream are: Advanced Manufacturing, Processing (primary and secondary), Life Sciences, Information and Communication Technology, Tourism and Cultural Industries.
- Amount: Up to 50% of project costs to a maximum of $1.5 million as a conditional grant. Projects must have a minimum budget of $100,000. Stacking of government funds is not permitted with EODF.
- Timeline: Open.
- Eligibility: Incorporated community or industry organizations with a minimum of 3 years of business. Organizations must be located in and execute their projects in Eastern Ontario. Projects must be completed within 4 years.
Top Eastern Ontario Development Fund Resources:
- EODF Overview Blog: An overview of the focus of this Ontario government funding program along with success stories, timelines and other relevant information.
- EODF Eligibility Criteria Blog: Eligible companies, projects and expenses that can benefit from this government funding for small businesses in Ontario program.
- How to Access Eastern Ontario Development Fund (EODF) Expansion Grants
- Eastern Ontario Development Fund (EODF): Business Investment Grants
- Ontario Provincial Election 2018: Impacts on Business and Funding
- Eastern Ontario Development Fund (EODF) Supports Five Manufacturers
- Hain Celestial Expands into Eastern Ontario with Manufacturing Grants