Expanding Launched on August 14, 2025, the Protect Ontario Financing Program is the first arm of the broader Protecting Ontario Account, a $5 billion initiative introduced in the 2025 provincial budget. This program is designed to provide up to $1 billion in liquidity relief to Ontario-based businesses facing challenges due to U.S. tariffs under Section 232.
Who’s Eligible?
The program targets companies operating in Ontario in the steel, aluminum, and automotive sectors, all of which are facing heightened pressure from recent tariff actions & experiencing significant working capital challenges due to s.232 U.S. tariffs (e.g., trouble meeting short-term obligations like payroll).
Additional requirements for eligibility are to have:
- $2M + in annual revenue
- Employ 10+ full-time staff in Ontario
- Have at least 3 years of operations and financial statements
Purpose and Benefits
This initiative aims to:
- Help businesses cover critical costs like payroll, rent, and utilities.
- Shield operations from disruptions, avoiding layoffs and maintaining supply chain integrity.
- Preserve jobs and the province’s manufacturing resilience during ongoing economic turbulence.
How It Works
- Businesses can use an online tool to check preliminary eligibility.
- Those who pass the initial screening will enter a due diligence phase managed by a third-party financial agent.
- The financing is offered in the form of loans, acting as an emergency liquidity backstop complementing available federal supports and will provide immediate relief for Ontario businesses that are facing s.232 tariff-related working capital challenges.
Why It Matters
With Section 232 tariffs hitting core industries hard, this program offers critical relief to prevent business shutdowns and job losses, helping ensure that essential supply chains remain intact. As part of Ontario’s broader economic recovery strategy, it underscores the province’s commitment to protecting both its workforce and industrial backbone.
