How much funding does the Business Expansion Projects program provide?
This grants for businesses in Northern Ontario program offers up to 50% of the project costs to a maximum of $1 million in funding.
Additional details regarding this grants for small businesses in Northern Ontario funding program:
- Larger project requests will be dealt with on a case-by-case basis,
- Typically, 30% will be a conditional grant based on the applicant meeting agreed, upon deadlines and milestones,
- The remainder would be a repayable loan,
- In some situations the funding may be a term loan.
What business are eligible for NOHFC Business Expansion Projects funding?
Businesses must be located in Northern Ontario and the expansion must occur in Northern Ontario. In addition, businesses must be involved in one of the following priority areas to be eligible for NOHFC Northern Ontario business grants funding:
- 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.
What businesses are not eligible for funding from the NOHFC Ontario business grants for expansion projects?
Businesses that are not eligible for this NOHFC Ontario business grants program include: retail, consumer services, professional services, wholesale businesses, accommodation and food services, mining related activities.
What costs does this NOHFC business grants Ontario program cover?
The following costs associated with expanding your business are eligible for Ontario business grants funding through NOHFC:
- Capital construction,
- Leasehold improvements,
- New or used equipment,
- Training costs incurred with third parties,
- Land servicing costs,
- Information & communications technology investments including, software.
What costs are not eligible for funding from the Business Expansion Projects program?
The following costs are ineligible for funding through the NOHFC business expansion projects program:
- Business plans,
- Strategic plans,
- Marketing,
- Feasibility studies,
- Research and development,
- Land purchase/lease,
- Rolling stock (e.g. cars & trucks),
- Project management costs,
- Consulting costs,
- Maintenance costs,
- Administration costs,
- Working capital,
- Inventory,
- Other ongoing operating costs.
What are the key factors for a winning NOHFC Ontario business grants application?
In order to be successful in securing an Ontario business grant through NOHFC the applicant must demonstrate the following:
- Creation of jobs in Northern Ontario,
- Evidence that the project will be of economic benefit to Northern Ontario,
- The applicant business has access to the balance of funding needed to complete the project.
How do I find our more information about this grants for businesses in Northern Ontario funding program?
To explore whether this NOHFC Ontario government funding program is ideal for your upcoming project, please contact Mentor Works. Our team of Canadian Government Funding Planners can answer questions about this program and help optimize your application process.