Today, we’d like to inform you about the that Southwestern Ontario Development Fund (SWODF) and Eastern Ontario Development Fund (EODF)‘s current intake is over. The next intake starts on January 12, 2023 and will continue until February 23, 2023.
So, if you are planning on growing your business in Ontario, it’s high time to start working on your application to be ready to apply when the next intake starts.
About SWODF and EODF
The funds support projects and investments to businesses, municipalities and not-for-profit organizations for economic development in southwestern and eastern Ontario. The programs supports projects that create jobs, encourage innovation, collaboration and cluster development, and attract private sector investment.
Eligibility Criteria
- Be located in Southwestern or Eastern 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
Amount
Any for-profit business that intends to expand in Southern and Eastern Ontario outside Greater Toronto and Ottawa is eligible to receive 15% of the expansion budget from the government. The contribution may be in the form of a grant or an interest-free loan.
Deadline
Next intake will close on February 23, 2023.