NorthBridge engaged an Ontario manufacturer that was looking to hire new employees and undertake a multi-million dollar expansion project. The company was expanding their facility and adding new equipment in order to increase capacity and better serve their customers. The company had applied for the SR&ED program but was unaware of government funds that were applicable to their business objectives. Our team was able to identify a funding program that offers assistance of up to 15% of eligible project costs in the form of a non-repayable grant.
Our NorthBridge team worked with the company to identify eligible expenditures, to submit a business plan for their expansion project, and to prepare pro-forma financial statements with the grant application. As a result of our efforts, they were approved for the $900 thousand that they had requested from the South Western Ontario Development Fund (SWODF). The funding will be directly invested in their expansion project and will allow the company to realize increased efficiencies and contribute towards future growth. NorthBridge will continue to work with the company to assist with reporting requirements on an ongoing basis, throughout the execution of the expansion project.