Capital Investment Incentives for Existing Ontario Business (2020): 34 Programs to Help You Buy New Technology, Equipment & More

Eventually all small-business owners are faced with this seemingly overwhelming obstacle to success: capital expenditures. Equipment, machinery, hardware, software, infrastructure, and more all come with intimidating price tags, and not everyone has the wherewithal to just dish out amounts of that size.

So how do you fund those necessary expenses? You’re not going to win a lottery, inherit from a long-lost uncle, or strike a deal on Dragon’s Den anytime soon, so where is that money going to come from? You can’t just not make that purchase, so where do you go?

Here of course! Check out this comprehensive list of funding available for SMEs across Canada. The chances are good you’ll find one or more that’ll work for you and get you past that intimidating hurdle.

Incentives Available Across Canada

There are some great funding programs available across the country to help you acquire the purchases you need to improve your business, regardless of your field, sector, or size. Many of them are repayable, but they all come with great terms and plenty of flexibility.


Crown-Indigenous Relations and Northern Affairs Canada Aboriginal Business and Entrepreneurship Development (ABED)

Now you can get the funding you need to acquire the new technology, equipment, or other acquisition to grow your business if you’re an Indigenous business owner, community, or development corporation in Canada.

If you qualify, which you should if you’ve met the above criteria, you could get up to $99,999 (and up to $250,000 for community-owned businesses) for those capital expenditures you’ve been eyeing without having to pay it back.

You can apply anytime you like for this program since there’s no deadline, but you should move fast given the program may change now that Indigenous and Northern Affairs Canada has become two separate entities. You never know which programs may stay or go.

All you have to do to apply is submit a business proposal. If you need help applying or putting your proposal together, or just have questions about the program in general, contact your local Aboriginal Financial Institution because this funding program is delivered through them.

For additional information or if these links change, head to the new Crown-Indigenous Relations and Northern Affairs Canada page or the new Indigenous Services Canada page.

Agriculture and Agri-Food Canada Dairy Processing Investment Fund: Capital Investment Projects

Dairy processors, you’re in luck! This fund was designed specifically to help you cover those capital investments.

You could get funding to improve your manufacturing process or technology, buy new equipment or infrastructure, or expand and/or modernize your facility, and more.

Nonprofits and small- and medium-sized for-profits alike can qualify provided nonprofits manufacture the product for sale and the products of for-profits result in broad benefits.

Get started on applying for this program soon because time is running out. The program closes on March 31, 2021. And you’ll need time to ensure you have the many supporting documents you need to send with your application for this one:

  1. Business plan (Agriculture and Agri-Food Canada template)
  2. copies of all financing agreements related to the project
  3. documentation in support of the costs detailed in the project budget, such as quotes, estimates or contracts
  4. financial statements for the past three years
  5. project work plan (Agriculture and Agri-Food Canada template)
  6. project budget (Agriculture and Agri-Food Canada template)
  7. project financing plan (Agriculture and Agri-Food Canada template)
  8. project performance information (Agriculture and Agri-Food Canada template)
  9. pro forma financial statements for three years after project completion (Capital Investment Project only)
  10. signed application form (Agriculture and Agri-Food Canada template)

Now that your head is spinning, you can start the application process, which begins with reading the application guide. Then you fill out a Project Summary and submit it via email.

Once you’ve done that, a representative will get in touch with you and then email you an application package that contains all the templates from the list above if you’re eligible to apply.

Because the program ends on March 31, 2021, all projects must also be completed by then aS any costs incurred after that date won’t be eligible for reimbursement.

However, if you qualify for funding, you could get up to $10 million. That should ease the strain!

You may still feel the need for more information, so if that’s the case, just send them and email or give them a call at 1-877-246-4682.

Canadian Heritage Canada Cultural Spaces Fund

Nonprofit groups that need to build or renovate for the purpose of arts and heritage in any form, whether exhibition, preservation, presentation, or creation should take advantage of this grant program.

Your organization could qualify for up to 50% of the construction or renovation—and even the purchase of specialized equipment to do so—if you meet the above criteria are incorporated under the Canada Not-for-Profit Corporations Act or its provincial or territorial equivalent.

You could even qualify if you’re a provincial/territorial government, municipal administration, one of their agencies, or an equivalent Indigenous peoples’ organization that’s previously shown support for professional artistic or heritage activities including Indigenous cultural practice.

More specifically, your organization could find itself with funding of up to $15 million for an individual construction or renovation project or up to $5 million for buying specialized equipment.

A provincial/territorial government, a municipal administration, one of their agencies or an equivalent Indigenous peoples’ institution or organization that has historically demonstrated its support to professional artistic or heritage activities including Indigenous cultural practice in their community.

To apply, just fill out, sign, date, and submit the application form along with all the required documents (such as this budget form) by email, mail, or in person (but only one way, not all).

Department of Canadian Heritage
15 Eddy Street
Gatineau, Quebec  K1A 0M5 

But make sure you contact a representative at one of their regional offices before you apply!

For general questions and information, you can email them or call 819-997-0055 or 1-866-811-0055 toll free.


Agriculture and Agri-Food Canada Advance Payments Program

You could access up to $1,000,000 provided you’re a corporation, cooperative, or partnership (with the majority of shareholders Canadian), you own what you produce and are responsible for the marketing of it, and you’re a Canadian citizen or permanent resident (and, of course, are legally an adult).

Whether you’ve qualified for a grant or not or been able to take advantage of any other of the listed financial incentives, this loan-guarantee program could be exactly what you need to make that big but necessary purchase for your agriculture or agri-food business.

Of this $1,000,000 loan, the federal government will pay the interest for you on the first $100,000, but if you’re a canola producer, they’ll pay the interest on up to $500,000.

Chances are your product qualifies, but take a look at this list to be sure:

  • crops
  • grains and oilseeds
  • fruits and vegetables
  • livestock (cattle, hogs, sheep, bison, rabbits, red deer, boar, goats, elk)
  • certain breeding animals to be marketed during the production period (cattle, goats, sheep, hogs)
  • bees to be marketed during the production period
  • fur pelts and cervid antler velvet
  • honey
  • maple syrup

While you do have to secure the loan, which always includes using your product as security, you will have up to 18 months to repay the loan. If you’re a cattle producer, you get a longer period of up to 24 months. The size of the loan you receive will be dependent on the amount of security you can offer.

This is an ongoing program, so apply now. Just get in touch with an Advance Payments Program Administrator. They’ll take you through the application process and let you in on acceptable forms of security you can use to secure your loan.

You can contact them anytime via email, phone at 1-866-367-8506 or TDD/TTY at 613-773-2600, or via mail or in person at

Advance Payments Program
1341 Baseline Road, Tower 7, 7th Floor
Ottawa, ON  K1A 0C5

Be sure to take a look at their FAQs though if you just have general questions!

Agriculture and Agri-Food Canada Canadian Agricultural Loans Act Program

It’s another funding program for farmers and producers!

Farmers of all shapes and sizes can access this loan program to start, develop, or improve their farms, and cooperatives can use it to process, distribute, and market their product.

When it comes to capital expenditures, however, both can use it to buy land or buildings or build or improve existing buildings. You could get up to $500,000 if this is your goal, but if you’re a cooperative, your total funding can’t exceed $3 million, so keep that in mind.

Since Agriculture and Agri-Food Canada doesn’t deliver the program themselves, you will have to take your business proposal directly to a chartered bank, credit union or caisse populaire.

Once you’ve made your case, your financial institution of choice will register your loan with and submit the registration fee to Agriculture and Agri-Food Canada.

If you qualify, the federal government will guarantee to the lender a 95% repayment of a net loss.

For more information about the program, check out the FAQs or contact the program by email, phone at 1-866-367-8506 tool free , or mail to

Agriculture and Agri-Food Canada
Canadian Agricultural Loans Act
Financial Guarantee Programs Division
1341 Baseline Road, Tower 7
Ottawa, ON  K1A 0C5

Farm Credit Canada (FCC) Equipment

Find the financing you need for your new agricultural equipment with FCC. With the option to either finance your new equipment for purchase outright or lease first and then buy, this program allows you access to the new equipment you need now.

Working with FCC to acquire the equipment you need means low down payments, no administration fees, and flexible terms.

You can apply online anytime, so just make sure you have all your supporting financial documents in order. Here’s everything you’ll need to have handy:

  1. a net worth statement
  2. past 3 years of tax returns or accountant-prepared financial statements
  3. recent pay stubs or written employer verification for off-farm income (if applicable)
  4. government-issued photo ID
  5. shareholder agreements (if any)
  6. a business and marketing plan
  7. a cash flow budget

Contact them via email or phone at 1-888-332-3301 with any questions.

Farm Credit Canada (FCC) Environmental Solutions

If the equipment you need to purchase is so that you can switch your business to renewable energy sources, look no further than this program.

And if you haven’t thought of doing so before now, upgrading to clean energy could actually save your business money, so why not give it a shot?

It’s easy to apply. Just send an FCC rep an email anytime or give them a call if you prefer at 1-888-332-3301.

While this is a loan program and you will have to pay the interest of course, the remaining terms are flexible and include such benefits as interest-only payments and deferred payments.

As with the above program, make sure you gather all your supporting documents, which will include a net worth statement, 3 years of tax returns, pay stubs, government-issued photo ID, shareholder agreements, business and marketing plans, and a cash flow budget.

Farm Credit Canada (FCC) Women Entrepreneur Program

Women entrepreneurs in the agriculture, agri-food, or agri-businesses sectors should consider getting their share of the $500 million dollars the FCC has dedicated to help you finance that purchase you need to make to start or grow your business.

This is a loan program, as with the previous 2 programs, so you’ll pay interest as well as the principal, but you’ll also receive all the other benefits, such as flexible terms and low down payments.

Take advantage of this program by pickup the phone and calling 1-888-332-3301 to talk to a representative about a plan that would work best for your business. Alternatively, you could visit one of their offices in person.

Don’t forget to have those supporting documents together though! Again, these will include tax returns, pay stubs, government-issued photo ID, and more. For a detailed list, you can check out the previous 2 programs above, or head here.

Farm Credit Canada (FCC) Credit Lines Advancer Loan

While the FCC offers all sorts of preapproved credit lines, the Advancer Loan is for you if making capital investments for your agricultural business is what you’re after.

As with any line of credit, you’ll pay interest on the outstanding amount, but sometimes that’s a small price to pay to finally get your hands on that large purchase you hadn’t before been able to achieve.

Getting your Advancer Loan with the FCC comes with a variety of benefits that don’t come with working with a bank, such as interest-only payments if you need it, reduced payments compared to a bank, and the choice of an open variable interest rate or a locked-in interest rate.

You can apply for this program anytime too, just send them an email, give them a shout at 1-888-332-3301, or visit a local office in person.

Remember, you’ll need plenty of supporting documents, so download this PDF to make sure you have them all complete and handy.

Farm Credit Canada (FCC) Land & Buildings

It’s an exciting time when the success of your farm reaches the point where you need to expand either your land or your buildings. But the size of those expenditures can be daunting.

Don’t let it be! Just take advantage of FCC’s loan program that will help you make those purchases painlessly. While you will have to pay interest and fees, you’ll also get flexible terms and flexible payment options. There are no set minimum or maximum amounts.

All you have to do to apply is email an FCC representative. Or if you prefer, you can give them a call at 1-888-332-3301 and they’ll guide you through the process.

Here’s a little head start though. These are the documents you’ll need to have ready:

  1. a net worth statement
  2. 3 years of tax returns or accountant-prepared financial statements
  3. recent pay stubs or written employer verification for off-farm income
  4. government-issued photo ID (driver’s licence, passport)
  5. shareholder agreements (if any)
  6. a business and marketing plan
  7. a cash flow budget

Farm Credit Canada (FCC) Farm Transfers

This is a similar program to the one above from FCC. It offers reasonable funding if it’s time to either build on or expand your farm through a transfer or vice versa.

Is it time to transfer your farm to the next generation? Likewise, do you have the opportunity to expand your current farm through a transfer? Then while you’ll of course have to pay any fees and interest as well as the loan, this program will help cover the costs of the transaction.

If you’re the seller, you’ll be guaranteed full payment, and you can even receive payments over time if that helps with your tax situation.

If you’re the buyer, you could benefit from potentially not needing capital for a down payment or being able to pay in installments over time.

Just contact an FCC representative via email or phone at 1-888-332-3301 to apply or for more information.

As with the previous program, here’s a list of what you’ll need when you decide to apply:

  1. a net worth statement
  2. 3 years of tax returns or accountant-prepared financial statements
  3. recent pay stubs or written employer verification for off-farm income
  4. government-issued photo ID (driver’s licence, passport)
  5. shareholder agreements (if any)
  6. a business and marketing plan
  7. a cash flow budget

Business Development Bank of Canada (BDC) Xpansion Loan

While no one likes being in debt, sometimes it’s necessary to make a large purchase for something integral to your business. The BDC makes the loan process and repayment process as easy as possible though, so it’s worth looking into if, for example, you need to invest in some new tech.

Flexible repayment terms, including putting off payments right at the beginning, can ease the pain while giving you peace of mind and the time and ability to improve your business.

You could qualify for a loan of up to $750,000, and your personal assets are guaranteed safe, so get in touch with a BDC representative to see if you do qualify. Apply here if you need less than $100,000 and here if you need more than that.

Questions? Email them, give them a call at 1-877-232-2269, or find them on social media.

Business Development Bank of Canada (BDC) Wholesale Financing: Indirect Financing

This may appeal to a small audience, but it effects many Canadian businesses in one way or another.

This BDC programs gives funding to finance and leasing companies using a securitization process to help ensure more businesses have access to the capital they need when they need it. 

The securitization process is tailored to big financing companies, but they also offer a secured financing platform for smaller companies.

The benefits you could see by getting involved with this program include favourable financial terms that can be passed on to your customers, no minimum transaction size, and no required public rating.

Give James Joyce a shout at 416-309-9320 if you’re interested in this, or visit

Business Development Bank of Canada (BDC) Wholesale Financing: Syndicated Financing

This program, again through BDC, offers financial support for large- and medium-sized SMEs to achieve funding for a variety of reasons, one of which includes capital expenditures.

They do this by participating in existing operating lines of credit and term loans for businesses with other lenders, in other words, they’re a stable financing partner.

And they’re well-equipped to work within a multitude of fields and sectors including manufacturing, oil and gas, services, infrastructure, and renewable energy, among others.

Talk to them today to find out more about their experience in your field, specific details about the program, and whether you qualify via email, phone (1-877-232-2269), or social media.

Business Development Bank of Canada (BDC) Indigenous Entrepreneur

The BDC offers up to $350,000 in flexible financing for Indigenous entrepreneurs in Canada, whether you’re on or off reserve. While you can use this to purchase some of those fixed assets you need, it also allows you to use it to do more, such as start exporting or refresh your working capital. 

The options are many with this one, so look into this one right away.

Besides flexible repayment terms, you’ll also benefit from knowing your personal assets won’t be used as collateral and they’ll donate a proportion of the loan interest to a registered charity you choose. What a win-win!

All you have to do to get started is click here to apply and see if you qualify. If you’d like to talk to them first, you can send an email, pick up the phone (1-877-232-2269), or use social media.

Business Development Bank of Canada (BDC) Commercial Real Estate Financing

If buying new land or building is on your radar as the next step in expanding your business, look no further than the BDC.

This loan program will help you get the financing you 

need to make that expenditure and offers benefits that include things like a 25-year repayment period (up to), the option to postpone capital payments for up to 36 months, and keeping your personal assets safe.

As with other BDC loan programs there are no set minimum or maximum amounts. It’s all dependent on your needs and your circumstances. Just click here to apply for more than $100,000 or here for less.

And of course, they’re happy to answer any questions that come to mind. Just email them or give them a call at 1-877-232-2269.

Business Development Bank of Canada (BDC) Business Transition Custom Financing

Here’s an interesting one from the BDC. For those eyeing the purchase of another business, you should consider taking advantage of this one.

It takes an enormous sum of money to buy another business, but it’s an investment that could prove integral to your success. So, it could be wise to consider using funds from the BDC to help you out.

Flexible repayment terms, stable terms and conditions, and the option to postpone your capital payments at the beginning of the term are all smart reasons to use financing from the BDC.

For-profits of all sorts can apply for this funding to acquire another business, and depending on your situation, you could qualify for up to $35 million. Just make sure the business you have your sights on is established or on a high-growth path, has a strong management team, and has sold financial reporting.

There are 2 different applications depending on the amount you need to borrow. You can find an application for less than $100,000 here and one for more than that here. They even have additional solutions for Indigenous entrepreneurs.

Want to learn more? Simply send an email or give them a call at 1-877-232-2269.

Business Development Bank of Canada (BDC) Equipment Purchase Financing

With this program, again from the BDC, you can access the funding you need to purchase your new equipment, such as production line machinery, specialized technology, commercial vehicles, or others, or in one of two ways.

The first is their Equipment Financing plan. Use this one if you already know what to buy and where to buy it. The financing will even cover expenses such as shipping, installation, and training.

Click here to apply for funding of more than $100,000 and here for funding less than $100,000.

The second plan is the Equipment Line. If you’re researching exactly what you need and/or the best place to buy it, try applying for this one. You can use it to buy the same types of equipment and cover the same costs as for the Equipment Financing plan but take up to 12 months to buy it.

Click here to apply for more than $100,000 and here for less than $100,000.

Both plans offer many of the same benefits, including protecting your cash flow and your personal collateral and paying back your funds early if you choose.

Before you apply, make sure you prepare by gathering the documents you’ll need when you apply:

  1. sales forecasts to show how an equipment purchase will impact revenue and profit
  2. an explanation of how the equipment will increase sales or improve efficiency
  3. financial statements to show the company’s financial health

Once you have those documents ready, go ahead and click on the appropriate link above to apply for amount and program right for you. Then the BDC will make their decision based on such criteria as the needs of your business, your credit score, your net worth, and more.

Should have questions or need more information before going any further, contact them via email or phone at 1-877-232-2269.

Business Development Bank of Canada (BDC) Small Business Loan

Some funding programs and their application processes and criteria can be long, arduous, and confusing—not to mention a lot of work!

This is not one of those programs. Better yet, you can use the loan funding to pay for tangible assets such as new equipment, hardware, or software, or intangible assets such as patents or trademarks.

Canadian-based SMEs with a good credit history that have at least 24 months of revenue could qualify for up to $100,000. The best part is you can take 5 years to pay it back and even postpone your capital payment for 6 months.

There’s no deadline for this program, so simply apply online anytime.

Have questions? Just email them or ask a representative by calling 1-877-232-2269.

Business Development Bank of Canada (BDC) Technology Financing: Buy Equipment

When comes to coming buying or upgrading your technology to make your business more profitable, efficient, and competitive, think “BDC.”

The BDC’s Technology Financing program offers loans with flexible terms to help you purchase hardware such as servers, networks, computers, and more or software such as ERP, CRM, and human resources applications.

Because there’s no set amounts on the size of the financing, you can click here to apply for more than $100,000 or here for less than $100,000.

As with the other BDC programs, you can get in touch with them via email or phone at 1-877-232-2269.

Incentives Available in Ontario

If your organization is located anywhere in Ontario, then you have access to even more additional helpful funding programs. Some are location specific, but there is something for everyone here. There’s even a provincial tax reduction program!


Ontario Centres of Excellence (OCE) ENCQOR 5G Demonstration Program

This one may be quite specific, but if you’re a tech company looking to advance a project using the ENCQOR 5G Innovation Platform as a Service (iPaaS) testbed, then it’s perfect for 

you because the funding does cover capital expenditures such as equipment, testing tools, and instruments with residual values.

You can apply for this grant program as a stand-alone SME or with a partner such as municipalities, healthcare facilities, and public utilities. The only other requirements are that you’re an Ontario-based company incorporated provincially or federally with less than 500 employees that’s developing a new services, product, process, or technology in Ontario.

If this sounds like it checks all the boxes for you, you could receive up to $50,000 for your project up to a max of 50% of eligible costs.

To begin the application process, just go online and submit the requested information. Then you can complete and submit the application form your business development manager will send you when they contact you. Remember to submit all your supporting documents with your application! These are some of the documents you will need to include:

  1. resumes/CVs from relevant team members
  2. letter/s of support from any strategic partner company
  3. company profile from any strategic partner company

If you find yourself with questions or just want to know more before you begin, start with their FAQs. If you’d like information about their other programs, fill out and submit the Client Intake Form.

*NOTE: If this is the program for you, act fast because it closes on February 29, 2020!

Ontario Soil and Crop Improvement Association (OSCIA) and Government of Ontario, Ministry of Agriculture, Food and Rural Affairs (OMAFRA) Canadian Agricultural Partnership, Cost-share Funding for Farmers and Other Businesses

This grant program offers funding for a vast variety of projects in the agriculture, agri-food, and agri-based products sector, and in many cases, eligible costs do include acquiring fixed assets such as equipment and technology upgrades.

While there are many eligible projects too numerous to mention, only specific projects are called for during their intake periods. Right now, they’re calling for projects specifically relating to honey bee health management. But check back often for new intake dates and project categories. Know that this is only a 5-year initiative between OSCIA and the provincial government, so the program will close on March 31, 2023.

If you’re interested in this one, you must a producer, processor, or other business somehow involved in growing or producing agricultural products or commodities in Ontario.

To apply, just submit your application and your supporting documents such as your Farm Business Registration Number or Valid Premises Identification Number online or by email.

Email them any questions you have about the program or call 1-800-265-9751.

Tax Credits/Refunds/Reductions

Ontario Ministry of Finance Ontario Job Creation Investment Incentive

If you’ve had the onerous task of having to purchase new equipment or machinery—or even clean energy equipment—this provincial tax program will allow your business to immediately write off the full cost of the purchase.

This reduction was designed to ease the tax burden in 2018 and will be discontinued between 2024 and 2027, so this is also good time to make those purchases you’d perhaps been putting off if you’d hadn’t done it already.

All for-profit organizations qualify for this tax reduction as long as you operate in Ontario and made a capital investment. It really is that straightforward.

Look for this reduction when you file your 2019 business taxes.


Centre for Social Innovation (CSI) The Ontario Catapult Microloan Fund

Is your business an Ontario social enterprise? Do you exist to change the world in some way? Then this one’s for you!

If you qualify, you could get yourself a low-interest loan (5% to 8%) of between $5,000 and $25,000 to put toward the capital investments 

your company needs, such as new technology or new equipment, though you’re still responsible for paying any other fees that may arise from the loan.

If you qualify, you could get yourself a low-interest loan (5% to 8%) of between $5,000 and $25,000 to put toward the capital investments your company needs, such as new technology or new equipment, though you’re still responsible for paying any other fees that may arise from the loan.

The bottom line is if your organization is an Ontario based, for-profit social enterprise/venture addressing a social, environmental, economic, or cultural challenge and has less than 25 FTEs and annual revenues less than $2 million, get in touch with CSI. They’ll tell you definitively if you qualify, what you qualify for, and if there’s any funding left in the program for the year.

Once you’ve chatted with them and been given the green light, all you have to do is apply online. Make sure that before you do so, you have the required additional information and documents to submit along with your application:

  1. a business and marketing plan
  2. financial projections (including at least 3 years of cash flow projections broken down by months and an actual one-year Profit & Loss statement)
  3. details about the social impact and the innovation
  4. resume or CV or bio
  5. credit report or signed permission form to run a credit report

When you’re putting your application together, be sure to use their submission guidelines to help you ensure you have everything you need so the application process goes as smoothly as possible.

Funding for this one is limited, so don’t hesitate. Apply today to take advantage of this partnership between CSI, the Province of Ontario, Alterna Savings, Microsoft Canada, TD Bank Group, KPMG, and Social Capital Partners.

Innovation, Science and Economic Development Canada, Canada Small Business Financing Program

Do you need to buy new equipment or upgrade your current capital equipment? Look no further than this loan guarantee program for SMEs.

A loan guarantee program could help you get the capital you need when you otherwise couldn’t because the program takes on some of the risk, making the actual lender more likely to take a chance.

While you can borrow up to $1 million under this program, you can only ask for $350,000 for capital expenditures or improvements.

Better yet, as long as you’re a Canadian SME or start-up with a gross revenue of less than $10 million, you qualify. Just submit a business proposal to the bank, credit union, or caisse populaire of your choice and wait for approval.

Once you’ve been approved by your financial institution, they will give you your funds and register your loan with Innovation, Science and Economic Development Canada.

Otherwise, the only costs associated with taking advantage of this program are the usual interest rate and lender fees plus a 2% registration fee.

Should you find yourself with questions about the program, read through the FAQs or get in touch with your lender.

Incentives Available only in Southern Ontario

Well, here’s one additional program for you if you happen to be doing business in Two Rivers, Ontario!


Two Rivers (Ohsweken, ON) Community Development Centre Business Financing

For those lucky Indigenous business owners in Two Rivers, here’s a loan program that will help you obtain building(s) or equipment you need. They’ll even help you acquire an existing business as long as the transaction is at arms length.

How does up to $300,000 to use for that sound? Of course, you’ll have to pay approximately 8% interest and fees, but sometimes that’s a small price to pay to realize your goals. But, if it still sounds good to you, then just apply online and include a credit check on all the business’s owners and a detailed business plan that contains 3 years of projected financial statements and all your other possible sources of funding.

So, as long as you’re an Indigenous-owned business in the Two Rivers area with at least 15% cash equity, take advantage of this program to move your business forward.

Email the Two Rivers Community Development Centre or give them a call at 519-445-4567 to get started.

Incentives Available only in Northern Ontario

For those located and/or operating in Northern Ontario, here’s a few more funding programs just for you to participate in. The more the better!


FedNor Business Scale-up and Productivity (BSP) Stream Under the Regional Economic Growth through Innovation (REGI) Program

This could be the program for you if the project you have planned not only requires a capital expenditure to pull off but also allows you to adopt or adapt an innovative technology so you can be more competitive in markets both at home and abroad.  

You could get up to 50% of your project costs, including the necessary equipment or infrastructure, up to $500,000. However, all government funding from all levels must come to no more than 50% of eligible capital costs. At the same time, they may—rarely—consider funding more if you’re lucky.

You’ll also have to make sure you’ve already secured no less than 50% of your costs, whether from investors, partners, commercial financing, other sources, or some combination thereof.

SMEs of all kinds and nonprofits could all qualify for this financing program, but if the project results in profits, you should be prepared to pay the funding back with the generated revenue. Your organization must also be a legal entity able to enter into legal agreements, and the project must benefit Northern Ontario in some way. Nonprofit groups will be given priority.

This program has a two-phase application process. First, you’ll submit an application online that includes key contact and project information, then if you’re accepted, your application will be put through a due diligence process.

And of course, be ready with all your supporting documents:

  1. a sustainable business model to include 2 years of operations
  2. a description of your financial capacity to complete the project and repay the contribution in full
  3. an explanation about your managerial, technical, and operational capacity to achieve the project’s stated objectives in a timely manner
  4. a statement about the market/industry demand (e.g., how the project addresses a significant gap in the market; global opportunity to be seized within Canada; and evidence that Northern Ontario is uniquely positioned to capture market share)
  5. a report on the potential for market growth, diversification of export markets, and/or participation in global value chains
  6. a viable project plan with achievable outcomes supported by verifiable cost estimates

If need a little help getting through the application process or just have general questions, send them an email or give them a call at 1-877-333-6673.

Nishnawbe Aski Development Fund (NADF) Aboriginal Business Financing Program (ABFP)

This program could be a perfect fit for Indigenous business owners or communities with projects that include the need for capital expenditures.

Individual business owners could get up to $99,999 for their project without ever having to pay it back, and communities could see up to $249,999, again without having to pay it back.

As long as you’re over 18, an Indigenous business owner (or with a majority share) on or off-reserve operating in Northern Ontario, and can bring some cash equity to your project, you qualify. The minimum amount of equity you’ll need to have is 10% of projects if you’re between 18 and 35, and if you’re over 35, that amount increases to 15%.

Just make sure you contact an ABFP business development officer before submitting your application so you can be sure you and your project really do qualify. Your ABFP business development officer will also let you know the amount of support you could expect to get.

To get hooked up with a business officer, simply call 1-800-465-6821 or 807-623-5397. Once you’ve contacted a business officer, you will be assigned an account manager, who will contact you to discuss your application, the steps you need to take, and everything you need to submit.

Those applications with the best chance of success will be those that have a balanced financial package that has financing from other sources as well as your own contribution.

Got questions? If so, send them an email or call their head office at 1-807-623-5397 or toll free at 1-800-465-6821. Or, you could call 705-268-3940 if you’re in Timmins.

Northern Ontario Heritage Fund Corporation (NOHFC) Northern Business Opportunity Program: Business Expansion Projects

Here’s yet another program that could help you out if you’re in Northern Ontario and have a project that includes capital purchases.

This could be just the funding you need to get your program off the ground if you’re a business owner who intends to expand or retain your operations in the northern areas of the province and you operate in one of these 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

You could get up to 50% of your project costs covered, including those capital expenditures, to a cap of $1 million.

The funding you receive will come in 1 of 3 forms decided on by the program. The first is a conditional grant of up to 20% of the total costs or $400,000, whichever is less. The second form of funding is again a conditional grant of up to 20% of total eligible costs or $400,000 (whichever is less) supplemented by a repayable loan of up to 30% of your project costs or $600,000, whichever is less. Finally, the last form comes as a repayable loan for the lesser of either $1 million or up to 50% of total costs.

All you have to do to find out if this funding could be yours is apply online by clicking the Apply Now link at the bottom of the page. Make sure you gather all your documents together and apply quickly though because they stop taking applications on April 1, 2020.

If you’d like more information, read through the FAQs, and if your questions still aren’t answered to your satisfaction, go ahead and send them an email or give them a call at 1-705-945-6700 or 1-800-461-8329 toll free.

Northwestern Ontario Innovation Centre (NWOIC) Next Level Program

Do you have an innovative manufacturing or tech-based product? Are you a registered business located in Northern Ontario with at least 1 full-time employee and looking to expand? Then read on!

If your business also produces revenue (or has confirmed purchase orders for your product) with a proven 10% growth rate, sells outside Northwestern Ontario or has the potential to, and has a business model and strategy that illustrates your forecasted sales and employment growth, this funding could be yours.

The funding through this program includes equipment purchases and will cover up to 50% of your eligible costs up to $10,000. However, you have to contribute the remaining 50% yourself. And make sure your product will grow sales, increase employment levels, or decrease costs so your product will be accepted for funding.

To apply, doublecheck that you qualify, or ask questions, just email Kendall or call the program at 807-768-6681.  

Northwestern Ontario Innovation Centre (NWOIC) BTIF Program

Now if new hardware or software is what you’re in the market for, then try this program on for size. It offers 50% funding for eligible costs and applicants, so if you’ve been looking at improving your business processes with the purchase of some new hardware or software, don’t hesitate to apply if you qualify, which isn’t hard to do.

You only have to be a full-time business in operation for at least a year with a valid Canadian business number and be located in Northwestern Ontario. That’s it!

Let’s move on to the application process, which isn’t all that complicated either. Just contact the program coordinator to discuss everything and get yourself set up and complete and submit your application along with project quotes and the pre-agreement document.

If you’re approved, you’ll get a Letter of Offer that will detail the financial details of your approved grant and any and all project deadlines.

To get started, call either Jeff Coull in Thunder Bay at 807-768-6688 or Corey Jones in Kenora at 807-464-3665. Alternatively, send them an email at and respectively.

To get in touch with general questions about the program, just send them an email or give them a call at 807-768-6682 or 1-866-768-6682 toll free.

Sault Ste. Marie Innovation Centre (SSMIC) BTIF- Business Technology Improvement Fund

Speaking of purchasing new hardware or software to improve your company’s growth, efficiency, and competitiveness, this program can help you out if you operate in the Algoma district in Northeastern Ontario.

Qualifying SMEs could receive up to 50% their project costs to a maximum of $25,000, though you’ll have to pony up the remaining 50% yourself, including the HST. And you’ll also have to hand it over before they pay the project contractors.

The program has an array of acceptable software and hardware you can purchase to enhance your business including E-business enabling technologies and business operation software.

As long as you’re an SME operating for-profit in the Algoma district and an established seasonal or full-time business that’s operated for at least a year that requires new software or hardware to improve your business, then you’re in.

All you have to do is submit a completed Client Intake Form, a copy of your Articles of Incorporation or Business Name Registration, and no less than 2 quotes from proposed vendors to get started. Know that the program strongly encourages you find quotes from Algoma-based vendors.

How do you do that? Simple. Just contact Dirk Becker, Innovation Acceleration Specialist, at 705-942-7927, ext. 3148.


FedNor Targeted Manufacturing Initiative for Northern Ontario: Productivity Improvements Under Regional Economic Growth Through Innovation program (REGI)

Let’s face it. Even the most expensive equipment eventually needs an upgrade to make it more efficient, and who wants to—or can—put out the necessary money? That’s why we end up using things until we’ve run them into the ground and they no longer work for us.

But if you happen to be an SME in manufacturing, there’s help available. This FedNor program offers repayable financial assistance to help you upgrade or improve your capital equipment, including your information and communications tech and hardware and software.

If you qualify for funding, they’ll give you up to 33% of eligible costs so you can take care of that upgrade.

And to qualify you only need to meet 2 criteria: 1) be an established Northern Ontario manufacturer planning for growth and 2) have no more than 500 employees.

As with other FedNor programs, you’ll go through a two-phase application process by first submitting an application online that includes key contact and project information, and then if your application is accepted, your application will be put through a due diligence process.

Be ready to submit a work plan and a description of how the upgrade will improve your competitiveness and productivity, evidence of your ability to implement the upgrade (including 3 years of financial statements), details about how the upgrade will benefit you (including forecast results and your plan to achieve them), and specifics about how the upgrade will economically benefit Northern Ontario.

To start the application process, contact a FedNor officer at 1-877-333-6673, and to learn more about the process, check out their guidelines.

The Bottom Line

Now there’s no more acceptable reasons for not making those capital expenditures you need to make to make your business more competitive, efficient, or profitable. With so many funding programs available to you across the country, you can markedly ease the pain of those investments.

And even better, in some cases, you can stack programs to perhaps even draw even in the end. Making the right capital investments could also mean the difference between simply functioning and moving with the pack, or pulling ahead of the pack, so take advantage of as many programs as you can!

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