Need funding for your small business? Having trouble navigating what’s available? Don’t worry, we’ve got you!
Innovation Guelph has compiled a list of current funding available and we’re committed to maintaining this so you can trust it’s accuracy!
Southwestern Ontario Development Fund
The Southwestern Ontario Development Fund provides support for projects and investments to businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario. Three more application periods remain, opening on April 22, July 28, and November 4.
Canada Emergency Wage Subsidy (CEWS)
CEWS covers part of your employee wages. It aims to enable business owners to re-hire workers, help prevent further job losses, and ease your business back into normal operations. The last day to apply for period 10 (November 22 2020– December 19 2020) is June 17. Application deadline for current claim period 16 (May 9 2021– June 5 2021) is due December 2 2021. You must confirm your eligibility each claim period of four weeks.
OBIO Business Development Skills Program
This program provides funding to scaling companies of all sizes to increase their business development bench strength. The program supports companies as they build and enhance critical capabilities in-house by providing mentorship and training for key team members. Applications deadline is May 28. Applications received after this date will be considered on a rolling basis.
Black Entrepreneur Startup Program
For Black entrepreneurs age 18-39 provides startup loan financing and up to two years of mentorship, plus access to resources and networking opportunities with fellow entrepreneurs across Canada.
Canada Emergency Business Account
The program provides interest-free loans of up to $60,000 to small businesses and not-for-profits. Application period has been extended to June 30 2021.
Canada Emergency Rent Subsidy
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue during the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses. Application deadline for period 3 (November 22 2020 – December 19 2020) is June 17. Current period 9 (May 9 2021 – June 5 2021) deadline is December 2 2021. You must confirm your eligibility each claim period of four weeks.
Highly Affected Sectors Credit Availability Program (HASCAP)
Businesses heavily impacted by Covid-19 such as tourism and hospitality may be eligible for HASCAP. The program offers loans from $25,000 to $1 million to help with operation costs. The HASCAP Guarantee is available until June 30, 2021.
Afro Caribbean Business Network MicroLoan Fund
This fund was created to provide $500 to $15,000 loans to Black entrepreneurs having trouble getting funding at traditional banks.
Regional Development Agencies (RDAs)
Budget 2021 recognizes RDAs as key partners to support economic recovery, diversification and innovation. Subject to parliamentary approval, Budget 2021 proposes a series of Canada-wide measures to be delivered by RDAs to provide targeted investments to support inclusive growth and the recovery of hard-hit sectors, including FedDev Ontario’s Regional Relief and Recovery Fund (RRRF).
Regional Relief and Recovery Fund (RRRF)
RRRF provides assistance to businesses and communities that may require additional support to cope with and recover from the pandemic. Applications for RRRF loans will be accepted until June 30.
Ontario Tourism and Travel Small Business Support Grant
The Ontario Tourism and Travel Small Business Support Grant provides one-time payments of $10,000 to $20,000 to eligible small businesses in the tourism and travel sector. If you did not receive the Ontario Small Business Support Grant, you may be eligible. Application deadline is June 25.