Southwestern Ontario Development Fund (SWODF)

This program is aimed to support economic development in southwestern Ontario by supporting projects that create jobs, attract private sector investment, lead to business growth, and encourage innovation.

How Much Funding?

Loans
- Up to 15%, to a maximum of $5M
- Interest free during project period
- If investment and job targets are achieved, up to 30% of the loan may be forgiven (to a maximum of $50,000)

Grants
- Available only for certain circumstances
- Up to 15%
- Maximum of $500,000 if company has fewer than 100 employees and is based in rural Ontario (less than 100,000 population, or density less than 100 people/sqkm)
- Maximum of $1.5M for strategic projects that are foreign direct investments or from companies competing against other jurisdictions

Who Qualifies?

Ontario
- Invest at least $500,000 in their project (or $200,000 if in rural Ontario)
- Employ at least 10 people (or 5 if in rural Ontario)
- Commit to creating at least 5 new jobs (or 30% increase for companies with fewer than 15 employees)
- Be able to provide 3 years of operations/financial statements
- Be located in, or plan to locate in, a community in Southwestern Ontario

Eligible Activities & Expenditures

Business projects that support economic development in Southwestern Ontario

Program Deadline

Ongoing

Why EVAMAX?

96%+

Approval Rate

75%

Time Saved

33%

Fee Saved