FUNDING IS UP TO $5 MILLION IN INTEREST-FREE LOANS AND GRANTS

Ontario’s Eastern Ontario Development Fund (EODF) contributes 15% up to $5 million in grants and four-year interest-free loans towards investments that create jobs and lead to economic growth. Eligible expenditures include equipment, consulting services, facility retrofits and expansions, as well as employee training and other project-related costs. Projects must be between 3 and 4 years in length undertaken by businesses located or plan to be in one of the following Eastern Ontario counties: Frontenac, Halliburton, Hastings, Kawartha Lakes, Lanark, Leeds, Grenville, Lennox, Addington, Muskoka, Northumberland, Ottawa, Peterborough, Prescott, Russell, Prince Edward, Renfrew, Stormont, Dundas, or Glengarry. Additionally, applicants are required to have 3 years of financial statements and represent one of the following sectors: manufacturing, processing, information or communication technology, life sciences, tourism, or the cultural industry.

Applicants in rural communities with populations less than 100,000 can receive the first 15% funding up to $500,000 as a grant but are required to make an investment of no less than $200,000 and create 5 jobs. Applicants in rural communities with populations more than 100,000 are required to invest $500,000 and create 10 jobs to be eligible for the 15% interest-free loans of up to $5 million, of which, 30% up to $500,000 is forgivable if the applicant achieves its hiring and investment targets. Strategic new investments to Ontario (companies without a presence in Ontario), or companies whose investment plans (including new mandates, expansions or re-shoring or location/relocation) are subject to significant/substantive risk due to incentives offered from other jurisdictions are eligible to receive the first $1.5 million in funding as a grant. Next application deadline is May 27, 2026.