Investment – Grow Stream
ACCESS Investment – Launch Stream
The Investment – Launch Stream is for Businesses expanding existing operations in Northern Ontario.
Applications under the NOHFC’s Invest North – Grow stream will be evaluated in competitive rounds.
Round 1: Detailed business plan submission deadline April 30.
Round 2: Detailed business plan submission deadline July 31.
Round 3: Detailed business plan submission deadline October 31.
Round 4: Detailed business plan submission deadline January 31.
What Are the Program Requirements and funding?
The applicant is expected to secure balance of funding/financing necessary to implement the project.
For growing a business, it is expected that the project will result in full-time equivalent jobs creation or retention in Northern Ontario.
- The NOHFC holds four application intake rounds during the year for the Grow a Business Stream.
- Funding can be provided through three options:
- Funding in the form of a conditional contribution only of up to 20% of total eligible costs to a maximum of $400,000.
- Funding in the form of a conditional contribution of up to 20% of total eligible costs to a maximum of $400,000, plus a term loan of up to 30% of total eligible costs to a maximum of $600,000.
- Funding in the form of term loan only of up to 50% of total eligible costs to a maximum of $1,000,000.
Funding for each project is determined by the NOHFC Board of Directors, and limited funding is available. Not all projects meeting the criteria will necessarily receive funding.
Our Focus
Our focus is the financial health of all of our clients. We ensure that we provide them with exceptional customer service through the entire funding process.
What Projects are Eligible?
Eligible projects, activities and associated costs include, but are not limited to:
Capital construction
Leasehold improvements
New or used equipment including capital leases
Land servicing costs
Information & communications technology (ICT) investments
Marketing for new products and business initiatives (limited to a maximum of 20% of all other eligible project costs, or $75,000, whichever is less)
Training costs incurred with third parties (limited to a maximum of 20% of all other eligible project costs)
Why Apply with us
Fortuo believes in each one of the applications that we support. Our detailed pre-qualification process leads to a higher rate of approval for each government funding program.
What Projects are NOT ELIGIBLE?
Projects intended for internal efficiency purposes only are ineligible.
Ineligible activities and associated costs include, but are not limited to:
Retail and consumer service businesses that primarily earn revenue by providing products and services directly to individuals
Ongoing operating costs including maintenance
In-kind contributions
Restructuring or refinancing of existing business operations
Accommodation & food service businesses and related business activities
Businesses that are primarily involved in wholesale activities
Business plans / strategic plans / feasibility studies etc.
Assets acquired through operating leases
Research and development
Land purchase/lease
Rolling stock (e.g. cars, trucks & boats and motors)
Project management costs / consulting costs / administration costs
Mineral exploration, mine development and milling operations
Working capital
Cost of inventory
Cellular and internet service projects
Capital projects or leasehold improvements to residential or personal properties
Acquisitions and buy-outs of existing businesses
Electricity generation projects
Evaluation Criteria
Factors that will be considered during evaluation of applications will include but not limited to:
Job creation
Level of investment from other sources to be secured by the applicant
Strength of the applicant’s detailed business plan
Does not unreasonably impact existing Northern Ontario businesses
Net economic benefits for Northern Ontario
integrity. professionalism. results
What Our Dedicated Clients Are Saying
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Joel Marshall
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Jane Doe
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Jane Doe
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