Comments on Funding:
Funding is up to 15% of eligible project costs to a maximum of $5M for loans and interest free during the project period (up to 4 years). If the applicant achieves his investment and job targets, up to 30% of the loan (to a maximum of $500,000) may be forgiven.Funding for grants is up to 15% to a maximum:
- Of $500,000 if the applicant’s company has fewer than 100 employees and is based in rural Ontario (population of the community is less than 100,000 or population density is less than 100 people per square kilometer) and
- Of $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions.
Applicants are not allowed to combine (or “stack”) Eastern and Southwestern Ontario Development funding with other provincial programs.
The applicant must be able to provide 3 years of operations/financial statements.
Other Things to Note:
There are four application intake periods each year. Applicants will be notified of decisions within 60 business days of the application deadline.