We’re excited to inform you that the Business Scale-up and Productivity program has just opened its Spring 2024 intake. The program is an interest-free government loan that supports businesses in Ontario as they complete large-scale expansion, adopt innovative technologies, scale-up, boost productivity productivity, and enter new markets to become globally competitive.

This time, the government reimburses 50% of eligible project costs, up from 35% in the past.

The loan is disbursed every quarter and repaid over 5 to 7 years after the completion of the project. A grace period of 12 months following the project completion date applies.

Eligibility Criteria

  • Must be located in Southern Ontario. If you are in Northern Ontario, a similar program is available.
  • Canadian or provincially incorporated businesses.
  • Indigenous organizations such as Indigenous-owned businesses.
  • Co-operatives.
  • Minimum of five (5) full-time employees.
  • 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 southern Ontario is uniquely positioned to capture market share).
  • Financial capacity to complete the project and repay the contribution in full.
  • A viable project plan with achievable outcomes, supported by verifiable cost estimates.

Eligible Activities

  • Acquiring, adapting or adopting leading-edge technologies/processes.
  • Expanding manufacturing and/or R&D facility.
  • Demonstration of leading edge technologies and/or processes in an operational setting.
  • Late-stage technological development to support new markets and/or new industrial applications of technology.
  • Increasing business management capacity by building high-performance teams, adopting best management practices, processes and systems.
  • Commercializing/producing new innovative products, processes or services.
  • Customer and market development, expansion or diversification to support business growth and integration in global value chains and an initial sale.

Hurry up to apply for the Business Scale-up and Productivity (BSP) program, as the deadline for the current intake is June 24, 2024.