Armed with a promising business idea, a strategic plan, and investor support, you’re nearly ready to launch your business in Ontario. However, if you’re still seeking additional resources for land, equipment, or technology, Ontario’s range of support programs can provide the necessary boost.
Ontario offers a variety of programs tailored to help new businesses take off. These include loans and other financial aids, featuring low interest rates and flexible terms uncommon in traditional financial avenues. Explore these Ontario-specific programs to find the right fit for your business needs.
Ontario-Based Incentives
- Ministry of Children, Community, and Social Services Ontario Disability Support Program: Employment Supports: This program is an excellent choice for entrepreneurs with disabilities, offering funding to start a business and acquire necessary tools, equipment, and supplies.
- IAPO Financing for Business Start-Ups & Expansion Program (FNBSEP): Tailored for Indigenous individuals in Ontario’s agribusiness or farming sectors, or those in other sectors in Eastern or South Central Ontario, this program provides grants for purchasing or expanding a business.
- Community Futures Ontario Access to Capital: Ideal for those who haven’t found necessary funding for capital investments, this program offers repayable financing through loans, loan guarantees, or equity investments.
- Metis Voyageur Development Fund (MVDF) Financing Solutions: Aimed at Metis entrepreneurs, this program offers flexible financing to purchase essential business items, from technology to land, particularly benefiting community-focused businesses.
Incentives in Southern Ontario
- VERGE Capital Startup Fund: Supports startups in Southwestern Ontario addressing social, cultural, or environmental issues by providing low-interest loans with flexible terms and minimal collateral requirements.
Incentives in Northern Ontario
- Nishnawbe Aski Development Fund (NADF) NADF Loans: Provides financing for Indigenous entrepreneurs in Northern Ontario for various business purposes, from unique projects to business establishment.
- Wakenagun Community Futures Development Corporation Investment Fund: Women in Business Loan: Offers loans to women entrepreneurs in the Wakenagun area for starting or expanding a business, requiring at least 10% equity.
- Wakenagun Community Futures Development Corporation Investment Fund: Youth in Business Loan: Available for young entrepreneurs aged 18 to 35 in the Wakenagun area, this loan program supports a range of business investments, requiring 10% cash equity.
Ontario’s diverse range of support programs can be the key to turning your business aspirations into reality, especially when significant initial investments are needed. Explore these options to find the financial support that aligns with your business goals and requirements.
