Grants & Loans

Business Development Bank of Canada (BDC)

Tel: 1-877-232-2269 (toll free) Web: www.bdc.ca

The BDC is a crown corporation financial institution that provides financing, consulting and venture capital for small and medium-sized enterprises. Services include long-term financing, working capital, refinancing, change of ownership, patent capital and venture capital.

Business Help Centre (Middlesex CFDC) – Small Business Loans

Kilworth Business Park; 22423 Jefferies Road, RR# 5; Komoka, ON N0L 1R0
Tel: 519-641-6100 or 1-866-205-1188 Web: www.thebusinesshelpcentre.ca

The Community Futures Development Corporation (CFDC) of Middlesex County is a community-based non-profit organization run by a board of local volunteers. Their main objective is to encourage local entrepreneurship and economic opportunities, which is encouraged by professional business staff. Funding support is provided through the partnership of Industry Canada/ FedNor. The following programs are available through the Community Futures program: Business Consulting & Resources; Term Loan Investment in Small Business; and, Community Economic Development

Term loans are available for small businesses that may have difficulty accessing financing elsewhere. Small businesses are eligible to apply for a loan if they can demonstrate local employment creation, the ability to repay the loan and a firm personal investment commitment to the business. Loans are offered to successful applicants to a maximum of $250,000.

The following resources are also available at the CFDC of Middlesex County: Small Business Regulations, Entrepreneurial Library and Helpful Business & Community Links.

Canada Small Business Financing (CSBF)

Tel: 1-866-959-1699 (toll-free) Web: www.ic.gc.ca/csbfa  Email:  CSBFP-PFPEC@ic.gc.ca

Under this program, the Government of Canada makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders. The CSBF program promotes the availability of loans for establishing, expanding, modernizing and improving small businesses through Canadian financial institutions. Small businesses operating for profit in Canada with gross annual revenues of $5 million or less are eligible to receive a maximum of $500,000 in financing.

Loans can be used for financing up to 90% of the cost of:

  • Purchasing or improving land, real property or immovables
  • Purchasing leasehold improvements or improving leased property
  • Purchasing or improving new or used equipment

Digital Technology Adoption Pilot Program (DTAPP)

Web:  www.nrc-cnrc.gc.ca/eng/ibp/irap/digital-technology-adoption/dtapp-index.html
Tel:  1-855-453-3940

If you’re a small to medium-sized company thinking about introducing digital technologies to improve productivity, you may want to look into the federal government’s $80-million Digital Technology Adoption Pilot Program (DTAPP). Under the new program, announced in November, eligible incorporated companies with less than 500 employees may receive advisory services to help with the assessment, digital technology implementation and evaluation processes, plus up to $99,999 of non-repayable funding. For example, companies might introduce digital technology into production lines, workflow processes, supply chains or customer management systems.

The three-year program runs from October 2011 to March 31, 2014 and is being delivered through the National Research Council of Canada’s (NRC) Industrial Research Assistance Program utilizing their extensive network of technical advisors. Their advisors will be helping eligible companies navigate all aspects of the digital adoption process, from concept to product, providing technical and business advice, referrals and other innovation services as needed. Eligible costs include labour, contractors, travel, feasibility and other studies, plus training. Non-eligible costs include computer hardware and off-the-shelf software.

Farm Credit Canada

Web:  www.fcc-fac.ca
Tel:  1-888-332-3301

As Canada’s leading agriculture lender, FCC is advancing the business of agriculture. With a healthy portfolio of more than $22 billion and 19 consecutive years of portfolio growth, FCC is strong and stable – committed to serving the industry through all cycles. FCC provides financing, insurance, software, learning programs and other business services to producers, agribusinesses and agri-food operations. FCC employees are passionate about agriculture and committed to the success of customers and the industry.

Grants Ontario

Web:  www.grants.gov.on.ca

Grants Ontario provides you with one-window access to information about grants that are available to you, how to apply for grants and how to check the status of your application. Grants applications will now completed on-line - including this round of HCF grants.

Grants Ontario makes applying for a grant easy. Enter your organization's information once and it will remain safe and secure, ready for you to access any time you want to apply for a grant - regardless of whether you're applying for one grant or multiple grants.  You will need to complete the enrolment process on the new Grants Ontario web portal before applying.

Investing in Business Innovation

Web: http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_00324.html

Investing in Business Innovation provides funding to boost private sector investment in start-up businesses to accelerate the development of new products, processes and practices and bring them to market. Funding is also available for angel investor networks and their associations to attract new investment and support the growth of angel investment funds.

Up to $190 million has been allocated to this program from 2010 to 2014.

Applications are being accepted on an ongoing basis for projects submitted by eligible start-up businesses, angel investor networks and organizations that represent angel investor networks.

Prosperity Initiative Program

Web:  http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_00398.html

The Prosperity Initiative encourages businesses, not-for-profit organizations and post-secondary institutions in southern Ontario to undertake projects that will result in a more productive, diversified and competitive economy in the region.   Funding is available for projects that:

  • enhance productivity;
  • diversify the regional economy; and
  • build a competitive advantage for southern Ontario

Up to $210 million has been allocated to this program from 2010 to 2014.

Applications are being accepted on an ongoing basis. Applicants must first submit a Statement of Intent outlining the applicant's intent, project scope, alignment with Prosperity Initiative objectives, project stakeholders, future outcomes, overall costs and funding sources.

Applicants receiving written approval from FedDev Ontario to proceed to the next phase may then submit a full project proposal.

Scientists & Engineers in Business (FedDev)

Web:  www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_00337.html

Scientists and Engineers in Business provides financial support to help recent graduates and graduate students in the STEM (science, technology, engineering and mathematics) fields develop their business skills so they can bring innovative ideas to market and help grow the southern Ontario economy.

Applications are being accepted on an ongoing basis for projects submitted by eligible not-for-profit organizations that provide business development and advisory services, as well as post-secondary institutions that offer commercialization fellowships.

Small Business Internship Program (SBIP)

Tel: 1-866-205-1188 (toll-free) Web: www.thebusinesshelpcentre.ca

If you are a small or medium size business in Southwestern Ontario and are looking to increase your productivity and competitiveness in the market place, consider making changes to your website with on-line marketing or e-commerce.  Due to the success of the SBIP Pilot Project in 2009-2010, CFDC Middlesex has been awarded the privlege of delivering the program for a 2nd year.  Here's how we can help you:

  • enable you to hire a student in communications & technology for a 12 week intership;
  • reimburse up to 75% of related wages & benefits

Some benefits to business by using e-business and/or information and communication technologies (ICT):

  • improve search engine optimization;
  • improve client / customer support;
  • enhance productivity
  • enhance visability

SME Benchmarking Tool

Tel: 1-800-328-6189 (toll-free) Web: http://www.ic.gc.ca/eic/site/pp-pp.nsf/eng/h_pm00001.html

SME Benchmarking Tool provides access to industry averages for income statement and balance sheet items, financial ratios and information on profitability for small and medium-sized businesses.

It features detailed financial data on more than 600 industries across Canada, including more than 30 performance benchmarks to help small businesses determine how they measure up to their competitors.

This tool is based on the Small Business Profiles (SBP), which are created by Statistics Canada using a sample of Revenue Canada tax returns for both incorporated and unincorporated businesses operating in Canada. The most recent version of the Small Business Profiles is for 2008.

SME Benchmarking Tool can help both new and existing businesses to better understand how competing firms operate in their chosen industry.

Soft-Landing Program

Web:  www.cdmn.ca/soft-landing-program/overview

The CDMN Soft-Landing Program is intended to offer qualified, mature startups and SMEs exposure to an economy-of-interest by providing them the opportunity to take residence in a partnered facility that can offer the regional support required to help them grow their business for up to three months.

Both the location and the specific landing facility are always determined by the startup and SME, based on market pull and the needs that the company is seeking to fulfill in that economy.

The CDMN Soft-Landing Program offers three types of landings for startups and SMEs looking to grow their business in new markets. Through Outbound Soft-Landings Canadian companies can land anywhere in the world, get connected to a business accelerator centre in a targeted market and qualify for up to $4,000 CAD in reimbursable travel expenses along with having their desk space at the landing facility covered for a landing of up to 3 months.

Non-Canadian companies looking to land in Canada can take part in the Inbound Soft-Landings that the CDMN offers. Similarly, Canadian companies looking to land elsewhere in Canada can take part in the Domestic Soft-Landings option. While the Inbound and Domestic soft-landing types do not provide funding, CDMN will connect companies interested in these options with our extensive network of business accelerators and incubators located from coast-to-coast to assist them in learning more about how to do business in North America.

Think the CDMN Soft-Landing Program is a fit for your company? Consider the following questions:

  • Are you a startup company or Small-Medium Enterprise (companies with 1-500 employees)?
  • Are you interested in taking your company international?
  • Is your business, product, or service centred on ICT?
  • Is there potential to grow your business in foreign markets?
  • Do you have a product or service that is market ready?
  • Do you have existing revenues?
     

Southern Ontario Fund for Investment in Innovations (SOFII)

Web: www.wocfdca.com

The Southern Ontario Fund for Investment in Innovation program supports high-growth, innovative Small and Medium-sized Enterprises (SMEs) in rural and urban communities by offering loans of usually $150,000 to $500,000 to support all aspects of growth challenges facing them. The loans are intended to help finance:

  • Late stage commercialization;
  • New product or service development;
  • New applications or markets; or
  • Development or implementation of new processes or technologies. 

Southwestern Ontario Angel Group

Web:  www.swoangel.com

The Southwestern Ontario Angel Group (SWOAG) is a not-for-profit corporation based in London, Ontario.

SWOAG is made up of a group of professional investors whose purpose is to:

  • Support economic development in London and the Southwestern Ontario region
  • Foster an entrepreneurial spirit
  • Identify and act on investment opportunities
  • Promote investor best practices

The Southwestern Ontario Angel Group will be able to connect more angel investors with promising new start-up businesses in the southwestern Ontario region, thanks to a $100,000 Government of Canada investment.
 

Southwestern Ontario Development Fund

Email:  swodf@ontario.ca   Web:  www.ontariocanada.com/ontcan/1medt/en/swodf_en.jsp

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.

The fund is a discretionary, non-entitlement program with limited funding. There are two funding streams, one for established businesses and a regional stream for economic development organisations including municipalities.

Under the business stream, the fund may provide up to 15% of eligible project costs to a maximum grant of $1.5 million. For project investments of $10+ million that create 50+ jobs, funding may be available in the form of a secured repayable loan, to a maximum of $5 million in provincial support.  

Under the regional stream, the fund may provide up to 50% of eligible project costs to a maximum grant of $1.5 million.

Stacking with other provincial programs is not permitted under either funding streams. 

Check the website for information on eligibility and application process