Comments on Funding:
Applicants may apply for either a loan or a grant, not both.
Funding is up to 30% of eligible costs in the form of a performance-based loan, of which, up to 50% may be forgivable (if job, investment, and payroll targets met). During the repayment period, after the project completion date, interest will be charged at Ontario’s cost of borrowing plus 3%.
Grants of up to 15% of eligible costs may be considered in exceptional situations at the discretion of the province.
Stacking with other provincial funding programs is not allowed. Stacking with other government support (for example, federal or municipal) is allowed to a maximum of 50% of eligible project costs.
Applicants must be for-profit manufacturers and processors of wood and forest biomass across Ontario, including:
Harvesting and hauling companies/projects are not eligible for funding.
submit a Stage I application. To apply, they must login to Transfer Payment Ontario and complete the Stage I Eligibility Checklist and Application Form.
submit a fully completed Stage II Business Plan and all required supplemental documents by the Stage II deadline, if they successfully passed Stage I.
There is a 2-stage application and evaluation process, as following:
Stage I: project overview to determine whether project meets eligibility criteria and assessment of how well the project aligns with the objectives of the program;
Other Things to Note:
FSIIP will follow an open, competitive rounds-based application process.