NOHFC INVEST North Program – Grow Stream

This program will support productivity, innovation, business competitiveness, revenue growth, export capacity development, job creation and retention.

What Is NOHFC INVEST North Program – Grow Stream?

The NOHFC INVEST North Program – Grow Stream is a government-funded initiative supporting business expansion in Northern Ontario. It offers funding options like conditional contributions or term loans to cover costs related to equipment purchase, facility upgrades, workforce development, marketing, and research and development activities.

NOHFC INVEST North Program – Grow Stream Overview

The NOHFC INVEST North Program – Grow Stream is crucial for businesses in Northern Ontario, providing vital financial assistance to support their expansion and overcome financial barriers. This enables businesses to enhance competitiveness, create jobs, and stimulate economic development.

Participating businesses benefit from funding options like conditional contributions or term loans, allowing flexible use of funds for various expansion costs, including equipment purchases, facility upgrades, workforce development, marketing, and research and development. The program, administered by NOHFC, offers expertise and guidance throughout the application and funding process, ensuring effective navigation and maximizing benefits.

How Much Funding?

Funding can be provided through three options:
– Conditional contribution only of up to 20% of eligible costs to a maximum of $400,000.
– Conditional contribution of up to 20% of eligible costs to a maximum of $400,000, plus a term loan of up to 30% of eligible costs to a maximum of $600,000.
– Term loan only of up to 50% of total eligible costs to a maximum of $1,000,000.

WHO QUALIFIES?

Businesses expanding existing operations in Northern Ontario.

Eligible Activities & Expenditures

Eligible activities include those that will growth and expansion of the business

Capital construction
Leasehold improvements
New or used equipment including capital leases
Land servicing costs
ICT investments
Marketing for new products and business initiatives
Training costs incurred with third parties

PROGRAM DEADLINE

Ongoing

Get Expert Advice and Support

Our team will review your application and provide funding recommendations within a few weeks. If your project is approved, you’ll receive funding to cover a portion of eligible project costs.

Ready to take your business to the next level? Contact EVAMAX today to learn more and start your application process.

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NOHFC INVEST North Program – Grow Stream

What Is NOHFC INVEST North Program – Grow Stream?