Eastern Ontario Development Fund (EODF) — Business project loans

• Application form
• Cash flow forecast
• Articles of incorporation or letters patent
• Corporate family tree
• Three years of financial statements

Who is eligible?

• For-profit businesses in Ontario
• Municipalities
• Not-for-profit organizations

Who is not eligible

• Start-ups
• Retail businesses
• Primary production, construction, consulting, and personal services
• Electricity generation, waste management, recycling, and academic research
• Stand-alone restaurants and hotels, unless considered a regional priority

Eligible expenses

• Construction or upgrades to project facilities and site servicing
• Equipment and machinery, including new technology
• Project-related labour, materials, and specialized labour

Ineligible Costs and Activities

• Ongoing operating or production costs
• Purchase of land or buildings
• Vehicles or off-site equipment
• Consultant fees for preparing the application

Eligible geographic areas

• Eastern Ontario
• Frontenac
• Haliburton
• Hastings
• Kawartha Lakes
• Lanark
• Leeds and Grenville
• Lennox and Addington
• Muskoka
• Northumberland
• Ottawa
• Peterborough
• Prescott and Russell
• Prince Edward
• Renfrew
• Stormont, Dundas and Glengarry

• Applications are reviewed only if they are complete and submitted by the deadline.
• Applicants are notified of the funding decision within about 60 business days.
• If approved, a funding agreement must be signed before any payment is made.
• Disbursements depend on meeting funding conditions, including financing and insurance requirements.
• Annual reporting and financial statements are required under the agreement.

Here are additional relevant details for this grant:

• Registration on TPON and consulting with a regional advisor regarding your application is recommended two weeks in advance of the application deadline for smoother processing.
• Financial statements submitted with the application should adhere to specific accounting standards, and additional standards may apply if the company is applying for a grant and has revenues under $5 million.
• Applicants can work with an external firm for application preparation, but all costs related to consultants are not eligible project costs, and the submission must be made by the applicant or an employee thereof.
• If your application is incomplete at the time of submission, the review may be deferred to the next application intake period, subject to eligibility requirements.
• Applicants are subject to compliance checks across various provincial ministries and may need to ensure ongoing compliance with laws and regulations as part of the funding agreement.
• Confidentiality and public reporting measures are part of the process, with mandatory public announcements for approved projects.
• It requires clear documentation, such as a corporate family tree and cash flow details, indicating financial stability and repayment capacity.