The Southern Ontario Fund for Investment in Innovation (SOFII) provides Canadian government funding to support the growth of knowledge-based industry SMEs through loans addressing all aspects of innovative business challenges. Its objectives are to foster job creation, increase market penetration, improve competitiveness and ensure stability in participating organizations.
- Amount: Repayable funding from $150,000-$500,000 at an interest rate ranging approximately from 8%-12%.
- Timeline: Open and accepting applications.
- Eligibility: Southern Ontario businesses with 50-500 employees and the ability to repay Ontario government loans.
- Project Focus: Late-stage commercialization, new product or service development, development or implementation of new processes or technologies, or new applications or markets.
Top SOFII Resources:
- SOFII Overview Blog: An overview of the SOFII business loans program. It includes basic eligibility factors, the type of loan and what to expect.
- SOFII Eligibility Criteria Blog: Learn how to qualify for SOFII small business loans Ontario. This details eligibility factors as well as the step by step application process.
- How to Qualify for SOFII Small Business Loans Ontario
- Southern Ontario Fund for Investment in Innovation (SOFII): Small Business Loans
- How does the Crowdfunding Revolution Impact Your Small Business?
- Canadian Government Renews Investment in SOFII Southern Ontario Business Loans
- Ontario Business Loans Available to SMEs in Late-Stage Commercialization Phase
Posted: July 5, 2012 by Chris Casemore. Updated: June 4, 2018 by Jeff Shepherd.