Government Grant, Loan
Eastern Ontario Development Fund (EODF)
The Eastern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in eastern Ontario. Eligible applicants can receive up to 15% funding to a maximum of $5M, interest free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan (to a maximum of $500,000) may be forgiven.
Grants are available only for specific circumstances, up to 15% to a maximum:
- Of $500,000 if your company has fewer than 100 employees and is based in rural Ontario (population of your community is less than 100,000 or population density is less than 100 people per square kilometre)
- Of $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions (in limited circumstances)
- 4.5/5.0
- Ontario. Economic Development, Job Creation and Trade
- All levels
- Last updated 2 days ago
- English
Description
The Eastern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in eastern Ontario. Eligible applicants can receive up to 15% funding to a maximum of $5M, interest free during the project period (up to 4 years). If you achieve your investment and job targets, up to 30% of the loan (to a maximum of $500,000) may be forgiven.
Grants are available only for specific circumstances, up to 15% to a maximum:
- Of $500,000 if your company has fewer than 100 employees and is based in rural Ontario (population of your community is less than 100,000 or population density is less than 100 people per square kilometre)
- Of $1,500,000 for strategic projects that are foreign direct investments or from companies competing against other jurisdictions (in limited circumstances)
The objective of the program is to provide financial support and services to help growing companies in eastern Ontario make investments to:
- grow their businesses
- improve productivity
- invest in innovation and skills development
- pursue new markets
- generate broad positive regional economic impact
- create new good, sustainable jobs