Northern Business Opportunity Program — Business Expansion Projects – NOHFC (2022)

ByMaurice
  • This program is currently closed.

Description:

The Northern Business Opportunity Program — Business Expansion Projects provides funding to existing businesses in Ontario that intend to expand and or retain their operations within Northern Ontario to improve competitiveness, increase productivity, export, grow revenues and create jobs.

Comments on Funding:

Funding will generally not exceed 50% of total eligible project costs up to a maximum of $1 million per project.

There are 3 funding options:

  • A conditional grant only to a maximum of 20% of total eligible costs or $400,000, whichever is less
  • A conditional grant to a maximum of 20% of total eligible costs or $400,000, whichever is less, plus a repayable loan to a maximum of 30% of total eligible costs or $600,000, whichever is less
  • A repayable loan only to a maximum of 50% of total eligible costs OR $1,000,000, whichever is less.

Eligibility:

Applicants must:

  • Be Ontario based businesses that intend to expand and/or retain their operations within Northern Ontario
  • Carry its business in the following sectors: advanced manufacturing, agriculture, aquaculture and food processing, arts, culture and creative industries, digital economy, forestry and value-added forestry-related industries, health sciences, minerals sector and mining supply and services, renewable energy and services, tourism, transportation, aviation and aerospace, water technologies and services.

Applications Steps:

1

The applicant must submit an online application and will be contacted by NOHFC in 2 to 4 weeks.

Testimonials:

The Love of Landscapes – NOHFC Success Stories

Program no longer active. (January 2021 and December 2021)

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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