Fund Description
The program’s goal is to encourage economic growth, diversification, job creation and self-reliant communities in Northern Ontario. Offers three funding programs: Innovation, Business Growth and Competitiveness, and Community Economic Development.
Funding Details
Generally, FedNor will support up to 33 percent of eligible capital and up to 50 percent of eligible non-capital expenditures in the form of repayable contributions. Youth internships are non-repayable.
Eligible Expenditures
Capital costs, including servicing of industrial lands, leasehold improvements, machinery and equipment. Non-capital costs, such as professional fees, costs related to business management training, dissemination of results, marketing costs, participation at trade shows, travel expenses, direct labour costs.
Eligibility Requirements
- Company has fewer than 500 employees located in an eligible region in Northern Ontario
- SMEs that are unlikely to obtain financing because the risk is too high
- Businesses including corporations, partnerships, co-operatives, proprietorships, trusts
