Funding

GRANTS & FINANCING

SUPERIOR EAST COMMUNITY FUTURES (SECFDC)

SECFDC assists businesses in Wawa, Chapleau, White River and Dubreuilville and offers many services to businesses looking to start or expand including:

  • Business Planning – SECFDC will review your business plan, and give you constructive feedback and evaluation, absolutely free of charge. You can also pick up a business plan template, start-up guide and other goodies at their office.
  • Business Financing – Up to $150,000 in loan financing is available from SECFDC.

For more information visit:
www.superioreast.on.ca

Contact:
Superior East CFDC
14 Ganley Street, Wawa, On
705-856-1105 or 1-800-387-5776
[email protected]

 NORTHERN ONTARIO HERITAGE FUND (NOHFC)             

The NOHFC offers five programs: the Strategic Economic Infrastructure Program, the Northern Community Capacity Building Program, the Northern Innovation Program, the Northern Business Opportunity Program and the Northern Ontario Internship Program. You can read through the program descriptions to determine which program best supports your business vision.

NORTHERN BUSINESS OPPORTUNITY PROGRAM – SMALL BUSINESS START-UP PROJECTS

Certain new businesses in Wawa will be eligible for NOHFC assistance in the form of a conditional grant for:

  • 50% of eligible project costs up to a maximum of $200,000.
  • The proposed new business must operate on a full-time basis, must not duplicate an existing business and result in job creation in Ontario.
  • Applicants are required to provide a minimum equity contribution in the amount of 15% of eligible project costs.

For more information visit www.nohfc.ca or call 1-705-945-6701.

NORTHERN BUSINESS EXPANSION FUNDING

This Program supports and encourages business productivity and expansion with:

  • Up to 50% of eligible project costs to a maximum of $1 million
  • Up to 30% of the NOHFC funding may be in the form of a conditional grant with the remainder in the form of a repayable loan

Eligible project costs include but are not limited to:

  • capital construction
  • leasehold improvements
  • new or used equipment
  • training costs incurred with third parties
  • land servicing costs
  • information & communications technology investments including, but not limited to, software

NORTHERN ONTARIO INTERNSHIP PROGRAM
The intent of the Northern Ontario Internship Program is to strengthen Northern Ontario’s competitive advantage and build economic development capacity by attracting and retaining graduates in the North. The program provides recent graduates who are interested in launching and building their careers in Northern Ontario access to internships.

Who is Eligible? 

Private sector, public sector, and not-for-profit organizations located in Northern Ontario that are interested in providing training and work experience to recent graduates. The organization must have been in operation for at least one year with a minimum of one full-time employee and operate in one of the following sectors identified and further described in the Growth Plan for Northern Ontario, 2011:

  • advanced manufacturing
  • agriculture, aquaculture and food processing
  • arts, culture and creative industries
  • digital economy
  • forestry and value-added forestry-related industries
  • health sciences
  • minerals sector and mining supply and services
  • renewable energy and services
  • tourism
  • transportation, aviation and aerospace
  • water technologies and services
  • municipalities, First Nations, post-secondary education institutions, and research institutions may also apply
  • other business activities that, in the opinion of the NOHFC Board of Directors, will result in an economic development advantage for Northern Ontario will be considered on a case-by-case basis.

A legal entity is entitled to two internship positions at a given time. Additional research positions are considered for colleges, universities and research institutions (as defined by NOHFC).

For more information:
Contact:
Linda Bouchard-Berzel
Northern Development Officer – Regional Economic Development Branch
48 Mission Road
Wawa, On P0S1K0
705-856-4743
[email protected]

Northern Ontario Heritage Fund Corporation
70 Foster Drive, Suite 200
Sault Ste. Marie, On
P6A 6V8
Fax: 1-705-945-670

CANADA SMALL BUSINESS FINANCING PROGRAM (CSBFP)

By sharing the risk with your financial institution, the CSBFP may help you get up to $1,000,000 to start, expand, modernize or improve your small business.

You can use the loan to finance the cost of purchasing or improving fixed assets.
For example, you could finance:

  1. i) Buildings and land
  2. ii) Commercial vehicles

iii) Business equipment

  1. iv) Leasehold improvements for a franchise

For more information visit: www.ic.gc.ca/csbfp

For more information:
Contact:
Northern Credit Union
14 Mission Road, Wawa, On
Telephone: 705-856-2322
www.northerncu.com

ABORIGINAL FUNDING
The Nishnawbe Aski Development Fund provides multiple forms of loans o aboringinal people, such as Youth Loans (18-35), term loans, bridge loans, leasing and micro loans.

Applicants must meet the following criteria:

  • Be of Aboriginal Hertitage (First Nations, Metis or Inuit)
  • Be over the age of 18
  • Reside in Northern Ontario
  • Business must be established and operated in Northern Ontario

For more information:
Contact:
Nishnawbe Aski Development Fund
106 Centennial Square, 2nd Floor
Thunder Bay, On P7E 1H3
1-807-623-5397 or 1-807-465-6821
www.nadf.org

UNDER 30 YEARS OF AGE?
YOUTH SUMMER COMPANY PROGRAM (15-29 YEARS OF AGE)

Young entrepreneurs receive FREE start-up money to start a summer business.

Receive up to $3,000 free! (50% of which is received at start-up with the remainder paid upon completion of the program)

Must be in high school, college or university not working more than 12 hours week at another job during the program.

Must be returning to school at end.

For more information:
Contact:
Youth Advisor
Sault Ste. Marie EDC
1-705-759-5461
www.summercompany.ca

STARTER COMPANY (18-29 YEARS OF AGE)

Young entreprenuers receive up to $5000 FREE!

Starter Company Provides:

  • Training and business skills development to help you prepare to run your own business
  • Advice and mentorship from local business leaders to help you get the business up and running
  • Experience running a business that will better position you to obtain more traditional financing, such as a bank loan – if required
  • Where applicable/eligible, a micro-grant to kick off a new business or expand an existing business

For more information and to check if you are eligible:
Contact:
Sault Ste. Marie Economic Development
Andrew Ross
99 Foster Drive – Level Three
Sault Ste. Marie, On
P6A 5X6
705-759-5432
www.sault-canada.com

Other Funding Opportunities:

PARO CENTRE FOR WOMEN’S ENTERPRISE

Thunder Bay, ON
(807) 652-0328
[email protected]
www.paro.ca

 REGIONAL EMPLOYMENT HELP CENTRE

65B Broadway Avenue , Wawa ON P0S 1K0
(705)-856-1648
www.wawarehc.com
ONTARIO BUSINESS ENTERPRISE CENTRE

Sault Ste. Marie EDC
(705)-759-5461
mailto: [email protected]

 BUSINESS DEVELOPMENT BANK OF CANADA

153 Great Northern Road, Sault Ste. Marie ON
(705)  941-2006
www.bdc.ca

 
 

INDUSTRIAL RESEARCH GRANT (IRAP)

SSM Innovation Centre
(705) 942-7927
www.nrc-cnrc.gc.ca

 

 ROYAL BANK OF CANADA – WAWA

72 Broadway Ave, Wawa ON
(705) 856-2261
www.rbc.com
INDUSTRY CANADA – FEDNOR

2 Queen Street, Sault Ste. Marie ON P6A 1Y3 [email protected]
www.fednor.gc.ca

 SAULT INNOVATION CENTRE

Sault Ste. Marie, ON
(705) 942-7927
www.ssmic.com