Small Business Financing Programs in Ontario
Ontario offers a range of business financing programs to support small businesses in their growth and development. These programs are designed to help businesses access the capital they need to invest in new projects, expand their operations, or adopt new technologies. With the right funding, businesses can strengthen their financial position and achieve long-term success. This guide provides a comprehensive overview of the various funding options, grants, and loans available for small businesses in Ontario.
99 opportunities available
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REGI — Business Scale-up and Productivity (BSP) - Northern Ontario
Funds to accelerate business growth in Northern Ontario
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Eastern Ontario Development Fund (EODF) — Business project loans
Loans to grow or expand in eastern Ontario
Grant and FundingExpert AdviceClosed
Starter Company Plus
Government of Ontario (ON), Grey County Business Enterprise Centre (BEC), Community Futures Peterborough (CFP), Municipality of Chatham-Kent, Invest Ottawa, Enterprise Renfrew County (ERC), Halton Region Small Business Centre
Supports Toronto entrepreneurs with training, mentorship, and business funding
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Regional Development Program — Advanced Manufacturing and Innovation Competitiveness (AMIC)
Funding and business support for Ontario SMEs
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ISDE — Advanced technologies for open-source intelligence due diligence
AI solutions for research security and open-source intelligence advancement
Grant and FundingOpen
FedDev Ontario — Economic Development Initiative (Southern Ontario) — Not-For-Profit
Assistance for Francophone projects in southern Ontario
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Tourism Growth Program in Northern Ontario
Tourism Growth Program supports tourism industry development in Canada
Grant and FundingOpen
Regional Homebuilding Innovation Initiative (RHII) for Northern Ontario
Supporting innovative homebuilding solutions for Northern Ontario
Grant and FundingOpen
Regional Artificial Intelligence Initiative (RAII) for Northern Ontario
Funding AI commercialization and adoption in Northern Ontario businesses
Grant and FundingOpen
OCI — Digital Modernization and Adoption Plan program (DMAP)
Support for digital modernization for SMEs in Ontario
Grant and FundingOpen
Digital Main Street – Digital Transformation Grant Program
Funding to develop Ontario SMEs online presence
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Southwestern Ontario Development Fund — Community economic development projects
Grants for economic development in southwestern Ontario
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Regional Tariff Response Initiative (RTRI) — Northern Ontario
Supports tariff-impacted Northern Ontario SMEs for productivity and growth
Grant and FundingOpen
OTF — Community Building Fund - Operating Stream
Supports operating viability for Ontario community-serving organizations
Grant and FundingOpen
Retail Modernization Project Grant (RMPG)
Supports Ontario SMEs in adopting and implementing digital technologies
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Regional Tariff Response Initiative (RTRI) — Southern Ontario
Supports southern Ontario businesses impacted by international trade disruptions
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Food Safety and Growth Initiative
Enhance food safety systems, adopt new technologies, and drive sector growth
Grant and FundingWage Subsidies And InternsSuspended
Canada-Ontario Job Grant (COJG)
Government of Ontario (ON), Government of Canada, Ministry of Labour, Training and Skills Development
Helping businesses and workers adapt to change and achieve their goals.
Grant and FundingOpen
INVEST North Program — Innovation Stream
Innovation Stream supports new technology development in Northern Ontario
Grant and FundingOpen
OVIN — Electric Vehicle (EV) — Stream 1
Money for electric vehicle related technologies
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Enabling Accessibility Fund — Small projects
Funding to create more accessible, safe spaces
Grant and FundingOpen
Northern Ontario Development Program — Community Economic Development
Federal Economic Development Agency for Northern Ontario (FedNor), Government of Canada, Community Futures Oxford
Funding for Northern Ontario community economic development
Grant and FundingExpert AdviceClosed
Summer Company
Government of Ontario (ON), Community Futures Peterborough (CFP), Ministry of Economic Development, Job Creation and Trade (ON), Municipality of Chatham-Kent, Invest Ottawa, Grey County Business Enterprise Centre (BEC), Enterprise Renfrew County (ERC), Halton Region Small Business Centre
Money for Ontario students to start a summer business
Other SupportGrant and FundingOpen
Peak Perks
Smart thermostat demand response incentives for Ontario electricity customers
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FedDev Ontario — Funding for organizations that help businesses grow
Supporting organizational growth through innovation and sustainable development
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Small Business Program
Free energy-efficient equipment upgrades for eligible Ontario small businesses
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OAC — Artists in Communities and Schools Projects
Support for community-engaged arts projects in Ontario
Other SupportGrant and FundingOpen
Neighbourhood Planting Program
Supports community-led tree planting and stewardship in Toronto
Grant and FundingClosed
Tourism Development Fund (TDF)
Government of Ontario (ON), Ontario Ministry of Tourism, Culture and Gaming and Ministry of Sport, Regional Tourism Organization 8 (RTO8)
Supports innovative tourism development and investment projects in Ontario
Grant and FundingClosed
Racialized and Indigenous Supports for Entrepreneurs (RAISE)
Support for racialized and Indigenous entrepreneurs in Ontario
Grant and FundingOpen
Toronto — Capacity Buyback Program
Rewards businesses for implementing permanent water-saving measures
Grant and FundingOpen
Life Sciences Scale-Up Fund (LSSUF)
Supports SMEs in commercializing and scaling life sciences innovations
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Toronto Circular Food Innovators Fund
Supports Toronto businesses in implementing reusable foodservice systems
Grant and FundingOpen
OCI — Ready 4 Market (R4M)
Pre-seed co-investment for Ontario academic spinout technology start-ups
Grant and FundingOpen
NADF Financing
Financing for Northern Ontario Indigenous business and economic development
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C/AV and Smart Mobility — Stream 2
Funding for autonomous vehicles and smart mobility technologies
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Regional Economic Growth Through Innovation & Southern Ontario Prosperity Program — Not-for-profit organizations
Funds for Southern Ontario not-for-profit organizations helping businesses
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CME’s Technology Investment Program
Federal Economic Development Agency for Southern Ontario (FedDev), Canadian Manufacturers & Exporters (CME)
Assists Ontario manufacturers with technology investment grants
Grant and FundingOpen
Ontario Labour Market Partnerships (OLMP)
Supports collaborative projects addressing local labour market challenges
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Food Security and Supply Chain Fund
Supports agri-food sector resilience and workforce development in Ontario
Grant and FundingOpen
Intellectual Property Ontario
Funding support for Ontario-based SMEs in tech and innovation sectors
Grant and FundingClosed
FedDev — Regional Artificial Intelligence Initiative – Adoption Pillar 2 – Businesses
Unlock your company's potential with cutting-edge AI advancements
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Ontario Junior Exploration Program
Funding for junior mining exploration in Ontario
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thriveFORWARD
Northumberland Community Futures Development Corporation (NCFDC), Federal Economic Development Agency for Southern Ontario (FedDev), Nventure
Money for technology and industrial companies in Southern Ontario
Grant and FundingExpert AdviceOpen
Innovation Guelph — Rhyze Up! Program
National accelerator supporting women-led businesses to scale sustainably
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OTF — Family Innovations Scale Grant
Supports scaling proven projects for parents, guardians, and caregivers
Grant and FundingOpen
Community Enhancement Program — Enhance Your Community Stream
Money for community economic development in Northern Ontario
Grant and FundingOpen
OTF — Family Innovations Test Grant
Funding for grassroots, caregiver-led projects supporting Ontario families
Grant and FundingOpen
BioCreate Program
Supports southern Ontario biotech SMEs advancing genomics innovations
Other SupportPartnering and CollaborationGrant and FundingExpert AdviceClosed
ventureLAB — Accelerate AI
Accelerate AI empowers startups with AI innovation support
Access over 10 000 different funding opportunities
Try the helloDarwin platform today and find programs that fit your needs
The helloDarwin application makes it easy to unlock grants so your business can grow faster—with less hassle and more impact.
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OMIF — Music Industry Initiatives
Funding for music service organizations in Ontario
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Small Distillery Program
Supports Ontario small distilleries' business expansion and job creation
Grant and FundingOpen
Southwestern Ontario Development Fund (SWODF) — Business Project Grants
Grants to grow or expand in southwestern Ontario
Grant and FundingExpert AdviceOpen
Launch Lab — Entrepreneurs In Residence (EIR)
Assistance for technology based businesses in Southern Ontario
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INOVAIT Pilot Fund
Funding for AI-integrated image-guided therapy commercialization projects
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Carrot Cache Fund
Supports projects advancing sustainable, just local food systems
Partnering and CollaborationGrant and FundingClosed
NGen — Feasibility Studies
Supports collaborative advanced manufacturing innovation and technology feasibility projects
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EV ChargeON Program
Funding to support the installation of public electric vehicle (EV) charging stations in Ontario communities outside of large urban centres.
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Business Incubation & Commercialization Grant Program
Supports Toronto-based incubators fostering entrepreneurship and job creation
Grant and FundingOpen
Digital Main Street – Digital Service Squad Grant (DSS)
Supports Ontario organizations hiring digital advisors for small businesses
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Skills Development Fund (SDF) — Training Stream
Supports workforce training and retention for Ontario organizations
Grant and FundingOpen
OVIN — C/AV and Smart Mobility — Stream 1
Funding for autonomous vehicles and smart mobility technologies
Grant and FundingClosed
Critical Minerals Innovation Fund
Funding for innovative critical minerals projects in Ontario
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Skills Development Fund (SDF) — Capital Stream — GROW Pathway
Skills Development Fund supports Ontario's workforce training needs
Grant and FundingOpen
Ontario Automotive Modernization Program (O-AMP)
Support for Ontario automotive suppliers' modernization efforts
Grant and FundingOpen
INVEST North Program — Investment — Launch Stream
Financial aid to start a business in Northern Ontario
Grant and FundingOpen
Mississauga Foundation - Hazel McCallion Fund for Arts, Culture and Heritage
Funding for arts culture heritage projects in Mississauga
Partnering and CollaborationGrant and FundingClosed
NGen — Pilot Projects
Supports collaborative innovation in advanced manufacturing technologies in Canada
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Indigenous Economic Development Fund — Business and Community Fund
Government of Ontario (ON), Ontario Ministry of Indigenous Affairs and First Nations Economic Reconciliation
Grants for Ontario Indigenous businesses, communities and organizations
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OVIN — R&D Partnership Fund – Advanced Charging and Vehicle-to-Grid (V2G) Stream
Supports R&D collaborations for advanced EV charging and V2G technologies
Grant and FundingOpen
Trade Mission Support Program
Export assistance for not-for-profit organizations in Northern Ontario
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Canada United Small Business Relief Fund
Grant supports small businesses' COVID-19 operational adjustments
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WinterTech Development
Money to develop automotive winter weather related technologies.
Grant and FundingClosed
Agri-Food Supply Chain Infrastructure Investment Stream
Money for agri-food equipment and assets acquisition
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Eastern Ontario Development Fund (EODF) — Community economic development projects
Grants for economic development in eastern Ontario
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Entrepreneurship and Innovation Fund — Small Businesses or Entrepreneurs Developing Agri-tech and Cleantech Solutions
Funding for agri-tech and cleantech solutions in York Region
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Small Cidery Program
Supports Ontario small cideries to scale and boost competitiveness
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Ontario Dairy Processing Modernization Initiative
Sustainable Canadian Agricultural Partnership (SCAP), Government of Ontario (ON), Agriculture and Agri-Food Canada (AAFC), Ontario Ministry of Agriculture, Food and Agribusiness (OMAFRA)
Funding for dairy processing equipment upgrades
Grant and FundingClosed
Ontario Transit Investment Fund (OTIF)
Supports the creation and expansion of sustainable transit services
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Ontario Creates-CMF — IDM Futures Forward Program
Funding for early-stage digital media project development
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INVEST North Program — Innovation – Industrial Research Chair
Money to establish and enhance research capacity
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Experience Ontario 2025
Experience Ontario 2025 funds impactful tourism events in Ontario
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Toronto Retail Accelerator Program
$10,000 micro grant to help Toronto's small retail businesses thrive and expand
Grant and FundingExpert AdviceClosed
i.d.e.a. Fund
Funding and support for high potential businesses focusing on a sustainable and green recovery
Grant and FundingOpenClosing Soon
OAC — Literary Organizations Projects
Supports Ontario literary organizations in presenting and promoting literature
Grant and FundingClosed
Grow Ontario Market Initiative
Grow Ontario Market Initiative funds agri-food market expansion
Grant and FundingLoans and Capital investmentsOpen
General Business Loans
Financing for business development in Two Rivers, Ontario
Grant and FundingClosed
Tourism Growth Program in southern Ontario
The Tourism Growth Program provides $108 million over 3 years to support local tourism businesses and not-for-profits.
Grant and FundingClosed
OCI — Innovating Digital Health Solutions (IDHS)
Promotes digital health tech partnerships for improved patient care
Grant and FundingOpen
INVEST North Program — Investment – Locate Stream
Supports businesses relocating operations to Northern Ontario for economic growth
Partnering and CollaborationGrant and FundingWage Subsidies And InternsClosed
OCI — ENCQOR 5G Technology Development (SME) Program
ENCQOR 5G SME Program for Ontario technology development
Grant and FundingOpen
OCI — Technology Demonstration Program (TDP)
Supports Ontario SMEs to implement DMAP-recommended digital technologies
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Smart Agriculture Living Lab Call for Proposal
Funding innovative smart agriculture solutions for industry challenges
Grant and FundingClosed
Toronto Main Street Innovation Fund
City of Toronto, Federal Economic Development Agency for Southern Ontario (FedDev), Government of Canada
The Main Street Innovation Fund supports Toronto's business recovery through grants for innovative community projects.
Grant and FundingExpert AdviceClosed
Spark Mentorships & Grants - Northwest Ontario
Support to develop new tourism ideas
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Durham Community Foundation Community Grants
Supports community initiatives aligned with local priorities
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OTF — Capital Grant
Funding to enhance and upgrade Ontario community facilities and spaces
Common Questions about financing SMB's in Ontario
Learn more about financing small businesses in Ontario
What financing programs are available for small businesses in Ontario?
Ontario offers several financing programs for small businesses, including government grants, low-interest loans, and tax credits. Key programs include the Canada Small Business Financing Program (CSBFP), the Ontario Innovation Tax Credit, and various sector-specific grants for industries like technology, agriculture, and food processing.
How can small businesses in Ontario access government grants for funding?
Small businesses in Ontario can access government grants by applying through provincial programs like the Ontario Business Support Grant or the Regional Relief and Recovery Fund (RRRF). They must meet specific eligibility criteria, including size, sector, and project scope. Applications are typically submitted online through government portals or specific program websites.
How can small businesses in Ontario secure funding for asset acquisition?
Small businesses can secure funding for asset acquisition through programs like the Canada Small Business Financing Loan (CSBFL), which provides loans for purchasing equipment, machinery, or real estate. The BDC (Business Development Bank of Canada) also offers financing for capital expenditures.
How does the application process work for small businesses seeking government funding in Ontario?
The application process for government funding typically involves submitting an online application with detailed information about the business, including its financial history, business plan, and the project for which funding is being sought. Additional documentation, such as financial statements, and possibly an interview or site visit, may be required during the review process.
What else should I know about Small Business Financing in Ontario?
Overview of Funding Options
Small businesses in Ontario can access various forms of funding, including government grants, private loans, and development programs aimed at fostering growth. Entrepreneurs can take advantage of loan programs, government-backed financing options, and specialized grants that target specific sectors like tech, food-based businesses, or those focusing on innovation and technology adoption.
Available Grants for Small Businesses
Ontario provides several grant opportunities designed to support small businesses in different industries. These grants can help with costs related to hiring, equipment, and innovation. Some of the key grants include the Canada Small Business Financing Program, the Ontario Innovation Tax Credit, and the Agri-Food Open for Business Initiative. These programs enable small businesses to leverage non-repayable funds to fuel their growth.
Government Funding Programs
The government of Ontario offers various funding programs for small businesses, including loans, grants, and tax credits. These programs are often industry-specific and designed to address the particular needs of businesses in sectors such as technology, agriculture, and manufacturing. The Canada Small Business Financing Loan (CSBFL) is one example that helps cover the costs of equipment, renovations, and real estate purchases.
Private Loan Options
In addition to government funding, businesses can explore private loan options through banks and financial institutions. Private loans are typically more flexible, offering various loan amounts and interest rates. However, businesses must meet specific eligibility and credit criteria. Some well-known loan providers in Ontario include RBC, BMO, and TD Bank, which offer small business loans tailored to help with working capital, growth, and day-to-day business costs.
Eligibility Criteria for Small Business Financing
To access funding through these programs, businesses must meet specific eligibility criteria. These include the size of the business, its annual revenue, the industry it operates in, and the intended use of the loan or grant. Most programs in Ontario are designed for small businesses with fewer than 100 employees, and many focus on businesses that are looking to innovate or expand in areas such as technology or sustainability.
Requirements for Applying for Loans
When applying for a loan, businesses must typically provide a detailed business plan, including financial statements, a breakdown of projected costs, and a clear growth strategy. Many lenders also require a strong credit score, personal financial history, and sometimes collateral to secure the loan.
Evaluation of Business Projects
Financial institutions and government programs will often evaluate a business project based on its potential for success. This evaluation includes the financial stability of the business, its growth potential, and how well it aligns with the program’s goals (e.g., job creation, innovation, or sustainability). The stronger and more detailed the proposal, the higher the chances of obtaining funding.
Criteria for Eligible Businesses
Eligibility for many funding programs depends on factors such as the business’s industry, location, and the type of project the funding will support. Technology, agriculture, and green energy businesses often receive special incentives due to their alignment with provincial economic goals. Additionally, businesses may need to demonstrate that they are in good standing with all regulatory and financial requirements.
Application Process for Funding
The application process for government grants or loans in Ontario involves submitting an online application along with supporting documentation such as a business plan, financial statements, and personal credit history. Some funding programs may also require interviews or additional rounds of review. For most programs, the process is straightforward but requires careful preparation to ensure all requirements are met.
Support and Resources for Small Businesses in Ontario
Ontario provides extensive support and resources for small businesses to help them access funding and develop their projects. These include training, mentorship programs, and business development services aimed at improving operational efficiency and fostering innovation.
Development Programs for Business Growth
The province offers several development programs designed to support business growth by providing both financial support and expert advice. Programs like the Ontario Centres of Excellence (OCE) offer funding and consulting services that help small businesses focus on research, innovation, and commercialization.
Training and Workshops
Many government agencies and business organizations offer training and workshops to help entrepreneurs improve their financial literacy, learn about funding options, and manage their business more effectively. These workshops cover topics such as grant applications, business finance, and how to manage cash flow effectively.
Business Grants and Subsidies
Ontario provides a variety of business grants and subsidies to help reduce costs for small businesses. These include subsidies for hiring new employees, purchasing new equipment, and investing in green technologies. Businesses that prioritize innovation and sustainability often have access to specific programs that reward forward-thinking business models.
Consulting and Mentorship Programs
Ontario also offers consulting and mentorship programs to small businesses through initiatives like the Small Business Enterprise Centres and the Business Development Bank of Canada (BDC). These services provide one-on-one support for business owners looking to expand, implement new strategies, or apply for funding opportunities.
Maximizing Funding Opportunities for Small Businesses
To maximize the benefits of funding opportunities, small businesses should adopt a strategic approach, taking full advantage of government grants, loans, and development programs.
Strategies for Cost-effective Funding
Businesses can reduce their costs by strategically applying for multiple grants or loan programs that address different aspects of their operations. For example, a business may apply for a grant to cover equipment costs while securing a loan to finance its expansion.
Utilizing Government Grants Effectively
Government grants should be utilized to offset costs related to innovation, technology adoption, or hiring. These grants provide non-repayable funds that can significantly reduce financial pressure on small businesses while promoting growth and competitiveness.
Optimizing Working Capital Financing
Small businesses can optimize their working capital by using loan programs that offer lower interest rates and longer repayment terms. This ensures that businesses maintain cash flow for day-to-day operations without accumulating excessive debt.
Expanding Business Assets
Through the use of financing options, small businesses can expand their assets by investing in new equipment, technology, or real estate. Strategic investments in business assets help drive long-term growth and increase productivity.
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