Southwestern and Eastern Ontario Development Fund

Southwestern and Eastern Ontario Development Fund (SWODF and EODF)

Description: The Southwestern Ontario Development Fund supports regional economic development by creating jobs, attracting private sector investment and promoting innovation, collaboration, and cluster development in Southwestern Ontario.

Funding Details: Loans of up to 15% funding to a maximum of $5M, interest free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan (to a maximum of $500,000) may be forgiven. Grants are available only for specific circumstances, up to 15% to a maximum:

  • Of $500,000 if your company has fewer than 100 employees and is based in rural Ontario (population of your community is less than 100,000 or population density is less than 100 people per square kilometre)
  • Of $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions

Eligible Expenditures: Eligible projects involve investment in existing operations to improve competitiveness, productivity and pursue new markets or business expansions involving the introduction of new products or services, e.g., infrastructure, project facility modifications/upgrades, equipment and machinery, one time internal labour, one time material, specialized expertise, skills training, project-related permits or fees.

Eligibility Requirements: Eligible businesses meet the following criteria:

  • For profit companies, registered to carry out business in Ontario
  • Be located in, or plan to locate in, an eligible region in Southwestern Ontario
  • Minimum 10 employees (or 5 if you are in rural Ontario)
  • Minimum 3 years operating experience; able to provide 3 years of financial statements
  • Planning a 3-4 year project that involves a minimum investment of $500,000 in eligible project costs (or $200,000 if you are in rural Ontario)
  • If you have more than 15 FTEs at time of application, you must commit to create at least 5 new FTEs by the end of the project.

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How NorthBridge Will Assist With SWODF, EODF and Other Funding Programs

NorthBridge has over 20 years of experience assisting companies with government funding programs. We will:

  • Listen and discuss past, present and future project activities.
  • Research and identify the appropriate and optimal government grant, tax incentive, loans, as well as private financing opportunities.
  • Take a hands-on approach to the application process and address relevant program objectives and criteria.
  • Become an in-house project manager for all types of government funding.
  • Interview the key employees and ask specific questions in order to make the right funding decisions.
  • Assist in writing the application and preparing all supporting documentation.
  • Assist with government reporting requirements.

To arrange for a free, no obligation consultation with one of our government funding experts contact us at: info@northbridgeconsultants.com

More information
Please fill in the following information and a NorthBridge representative will contact you regarding your request.





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