The Eastern Ontario Development Fund (EODF) and the Southwestern Ontario Development Fund (SWODF) have opened their new intake window from April 27 to June 15, 2023.
The Funds support projects and investments in businesses for economic development in Ontario. Among them are projects that create jobs, encourage innovation, collaboration and cluster development, and attract private sector investment.
Eligibility Criteria
- For Business Projects:
- Invest at least $500K in their project (or $200K in rural Ontario)
- Employ at least 10 people (or 5 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 southwestern or eastern Ontario
Funding
15% of eligible expenses in the form of a grant or loan with a forgivable portion. The maximum amount applies.
Need help with this or other government funding programs but don’t know where to start or how to prepare an application?