Amount:
No Fixed Amount
Type of Program:
Grants & Loan
Description:
The aim of this component is to support Northern Ontario communities' efforts to plan and mobilize their resources, enhance business growth, and exploit new opportunities for economic development and diversification.
Eligible activities are related to community economic development, including those that leverage key economic sectors, such as mining and forest industries, tourism, agri-food, information and communications technology, renewable energy and manufacturing.
Comments on Funding:
Funding is up to 33% of eligible capital and up to 50% of eligible non-capital costs.
Eligible applicants are expected to contribute a minimum of 10% of project costs.
Assistance available from FedNor includes repayable and non-repayable contributions. Contributions will normally be repayable where proposed projects generate profits for the eligible applicant.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
The applicant must:
All of the above need to be located in Northern Ontario.
Applications Steps:
Phase 1: Submit an Application for Financial Assistance providing key contact and project information;
Phase 2: Upon initial evaluation, FedNor will provide an electronic or written decision on whether the project should proceed to Phase Two. If selected to proceed, applicants will be invited to submit a Phase Two Detailed Application and provide supporting documentation. Applications will undergo a due diligence process where they are assessed against a number of factors.
