Southwestern Ontario Development Fund (SWODF) — Business project loans

• Cash flow forecast
• Articles of incorporation or letters patent
• Corporate family tree
• Three years of financial statements
• Letters of support, if available

Who is eligible?

• For-profit businesses
• Municipalities, Indigenous communities, economic development agencies, sector associations, and consortia may be eligible under the community stream
• Businesses planning investments in Southwestern Ontario
• Businesses investing in growth, productivity, innovation, or new markets

Who is not eligible

• Retail businesses
• Primary production businesses
• Construction-related projects, such as residential development
• Personal services, consulting, and academic research businesses
• Stand-alone restaurants and hotels, unless considered transformative and a regional priority

Eligible expenses

• Equipment and machinery
• Facility construction, modifications, or upgrades
• Site servicing and power service upgrades
• One-time labour, materials, and specialized expertise
• Skills training, permits, and project-related fees

Ineligible Costs and Activities

• Ongoing operations, maintenance, and capital replacement
• Refinancing, acquisitions, buyouts, restructurings, and relocations within Ontario
• Purchase of land or buildings
• Vehicles or off-site equipment

Eligible geographic areas

• Brant
• Bruce
• Chatham-Kent
• Dufferin
• Elgin
• Essex
• Grey
• Haldimand
• Huron
• Lambton
• Middlesex
• Niagara
• Norfolk
• Oxford
• Perth
• Simcoe
• Waterloo
• Wellington

• Alignment with the program’s economic development objectives.
• Regional economic impact beyond the company.
• Feasibility of the project and ability to meet investment, job, and payroll commitments.
• For loan requests, evidence that financing is secured and the project can support repayment.

• Step 1: Speak with a regional advisor
  • Discuss the project with a regional advisor before applying.
  • Use the advisor to assess program fit and prepare the application.
• Step 2: Register on TPON
  • Access Transfer Payment Ontario to begin the application process.
  • Use the program application form available through TPON.
• Step 3: Complete the application
  • Complete Part 1 to confirm eligibility before moving to Part 2.
  • Upload the completed form and supporting documents to TPON.
• Step 4: Submit during an intake period
  • Submit the application before the deadline during an official intake period.

• Applications are reviewed after the intake deadline and only complete applications are assessed.
• Applicants are notified of decisions within approximately 60 business days of the application deadline.
• If approved, the applicant must enter into a funding agreement with the Province of Ontario.
• No payments are made until the agreement is signed and any conditions for disbursement are met.

• There are four application intake periods each year, with notification typically given within 60 business days of the application deadline.
• The project start date must be after the application period close date, and projects must span between 3 and 4 years.
• Applicants must demonstrate compliance with all relevant laws and not owe fees or taxes to the Province of Ontario.
• For loan applications, financial materials must show a positive debt service coverage ratio in the previous three years and forecasted over the loan term.