We would like to remind you that the application deadlines for the Southwestern Ontario Development Fund (SWODF), Eastern Ontario Development Fund (EODF), and the Advanced Manufacturing & Innovation Competitiveness (AMIC) program are fast approaching. You have time until September 26, 2024, to submit your applications.
These funds offer support to businesses across Southern, Southwestern, and Eastern Ontario. If your business is looking to create jobs, drive innovation, and attract private investment, this is a great opportunity to secure funding to fuel your growth.
Funding
- Loans up to 15% (interest-free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan may be forgiven (i.e. granted).
- Grants up to 15% for qualifying small businesses in rural Ontario or for strategic projects with a strong competitive edge.
Eligibility Requirements
- Invest at least $500 K in the project (or $200 K if you are in rural Ontario)
- Employ at least 10 people (or 5 if you are in rural Ontario)
- Commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees)
- Be able to provide 3 years of operations/financial statements
- Be located in, or plan to locate in, a community in Southern, Southwestern or Eastern Ontario
Deadline
The deadline is just around the corner. Ensure your application is in by September 26, 2024, to take advantage of these funding opportunities.
