FedNor – Jobs and Growth Fund -

Comments on Funding:

Funding will take the form of:

interest-free repayable contributions for up to 50% of eligible costs for eligible businesses;
non-repayable contributions for up to 90 percent of eligible costs for not-for profit organizations.

Under the initiative, FedNor may contribute up to 100% of eligible project costs for projects with Indigenous clients.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

Incorporated Businesses, primarily Small and medium size enterprises (SMEs);
Not-for-profit organizations and community economic development partners;
Indigenous organizations such as Indigenous-led not-for-profits and organizations;
legal entities capable of entering into legally binding agreements.

To be considered eligible, project benefits must accrue to Northern Ontario.

Applications Steps:

Applications can be completed and submitted electronically, or printed and sent to the nearest FedNor office.

FedNor may contact applicants for additional details to complete the application.

The results of the Application review will be communicated to applicants electronically or in writing.

Upon initial review of the Phase One Application for Financial Assistance, applicants will be invited to submit a Phase Two Detailed Application, Annex and provide supporting documentation.

Successful applicants will be required to report to FedNor on project expenditures and activities, the results/outcomes of the project, and achievement of performance indicators as identified in contribution agreements.

Other Things to Note:

The Fund, delivered by Canada’s regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.

In Northern Ontario, FedNor is investing $26.6 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.