Funding Sources

PARO

The PARO program  offers a grant/loan program.  The first level is $1000 (50% grant that is not paid back, 50% paid back), the second level is $2000 (50% grant and 50% paid back).  The program is managed through PARO who provide the grant and LAMBAC who manage the loan portion. For Manitoulin Island contact barbara.baker@sumthing.ca  705-368-3114

NOW

Northern Ontario Women – NOW program A Project to stimulate women-owned and women-led business start-ups and scale-ups by increasing access to business development supports throughout the Northern Ontario region. – http://lambac.org/now/ . This is a grant program that has an open periods that you must work within, the current intake closes November 30th. Sue Whynott is the liaison and her email is now@lambac.org

DIGITAL MAINSTREET PROGRAM

Programs for Ontario Businesses As part of a partnership between the Government of Canada and the Province of Ontario, Digital Main Street is proud to announce three new programs to support businesses across Ontario.  Digitalmainstreet.ca

LAMBAC

LAMBAC.  The contact person is Carolyn and she can be reached at 705-282-3215.  Email carolyn@lambac.org.  LAMBAC is a Community Futures Development Corporation (CFDC) sponsored by Innovation Science And Economic Development / FedNor, created to support small and medium-sized business and community economic development. LAMBAC supports businesses through small business loans and resources. The organization administers local investment funds to help finance new or existing small and medium sized business and social enterprises for start-up, expansion or stabilization that will maintain or create jobs. LAMBAC is a one-stop source for information and guidance on starting, expanding and operating a business in the LaCloche Manitoulin region. Whether you are an aspiring entrepreneur or existing business owner, we are here to help.

FEDNOR

FedNor to check out their programs. FedNor is the Government of Canada’s economic development organization for Northern Ontario. Through its programs and services, and through its financial support of projects that lead to job creation and economic growth, FedNor works with businesses and community partners to build a stronger Northern Ontario.   The contact person is Arik Theijsmeijer and he works out of the LAMBAC office in Gore Bay and he can be reached at 705-665-3185 or 1-877-333-6673  arik.theijsmeijer@canada.ca

NOHFC (Northern Ontario Heritage Fund Corporation)

Nohfc The Northern Ontario Heritage Fund Corporation (NOHFC) was established in 1988 with a mandate to promote and stimulate economic development initiatives in Northern Ontario by providing financial assistance to projects that stabilize, diversify and foster the economic growth and diversification of the region. Contact person is Kristen Luoma  (Gore Bay office)  Kristin.luoma@ontario.ca  705-282-1429

Northern Ontario Recovery Program (through NOHFC) Oct 1-Dec 31 only

Up to $25 in Grants to cover costs associated with COVID-19.  These costs can be for new changes needed to accommodate mandates or be retractive to March 17th for costs alreay incurred.  NOHFC.CA

Both PARO and NOHFC have provided opportunity for some Covid-19 PPE funding including things like plexiglass barriers and other things you may have needed to keep your customers safe

BIZ Growth Fund (a funding partnership between PARO and FedNor. 

NOTE: 4 WEBINARS MUST BE ATTENDED PRIOR TO APPLYING FOR GRANTS

$5,000 Stream 1: Growth, Scale-up and Recovery. If you are an existing women owned business in Northern Ontario and are looking to grow, scale-up, or expand BizGrowth may be for you. Businesses may have difficulty moving their business to the next level and this program is designed to help businesses increase and capitalize on market opportunities to grow and expand. The purpose is to assist businesses to expand into new markets, implement innovative plans, including recovery from Covid19 Pandemic impacts. For this stream, applications will be accepted until March 31, 2022 or until all funds have been committed.

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$7,500 Stream 2: Business Recovery . If you are an existing registered (before March 1, 2020) women-owned (at least 49%) for-profit business in Northern Ontario that has been adversely impacted by the Covid19 Pandemic, and planning to continue or resume operations, and need support to strategize, plan or learn how to best recover your business, this program may be for you. For this Stream, applications will be accepted until March 31, 2021 or until all funds have been committed. Funds for Stream 1 and 2 are paid to the Contractor or Business providing the service or product. Applications must be complete to be considered for approval.

Blue Sky Net  BTIF Program

BTIF is a FedNor-funded initiative which assists businesses develop their capacity for e-business and in effect their ability to compete and thrive in the digital age. Blue Sky Net, through BTIF, is committed to helping small-to-medium-sized businesses in the Blue Sky Net region within Northeastern Ontario who are looking to enhance their capacity for business technology and their ability for technology adoption.  The BTIF grant helps to alleviate the costs of implementing innovative technology solutions for your business that will help take you to the next level.  

Ontario Business Grants

BDC – Business Development Bank

ontariobusinessgrants.com.  The Ontario Business Grants website will provide you with a drop down set of criteria to complete to help you find the type of funding, loans, grants that will suit your needs. There are currently (as of 2020 18 programs available for Women-owned businesses.

BDC.ca.  

Business Credit Availability Program (BCAP)

If your business has been directly or indirectly impacted by COVID-19, you may be eligible to access these credit options:

  • Up to $60,000 interest-free loans through the Canada Emergency Business Account
  • Up to $12.5 million for operational cash flow through the BDC Co-Lending Program
  • Junior loans ranging between $12.5 million and $60 million through the BDC Mid-Market Financing Program

Aboriginal Specific Funding

NACCA, the National Aboriginal Capital Corporations Association

NACCA.CA.  NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Aboriginal Financial Institutions (AFIs) dedicated to stimulating economic growth for all Indigenous people in Canada.

Waubetek

waubetek.com.  The Waubetek Business Development Corporation is an Aboriginal-owned and controlled organization that delivers business financing and economic development services to First Nations and Aboriginal entrepreneurs in North-Eastern Ontario