GRANTS AND FINANCING FOR BUSINESS
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.
CONTACT: Superior East CFDC
14 Ganley Street, Wawa ON
Phone: 705.856.1105 | 1.800.387.5776
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 and must not duplicate an existing business. See http://nohfc.ca/en/programs/northern-business-opportunity-program-small-business-start-projects for a full list of eligible businesses or call 1-705-945-6701.
Funding: This Program supports and encouraging 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.
Projects: Competitive businesses that currently do not have a presence in Ontario that will expand operations to Northern Ontario and create jobs. Preference is given to those projects that demonstrate the following: the creation of new jobs, ability to become a new anchor for investments and alignment with the priority sectors identified in the Northern Ontario Growth Plan.
Projects: The Northern Innovation Program supports the vision of the Growth Plan for Northern Ontario by supporting the development and commercialization of new technologies that will contribute to future prosperity in Northern Ontario, and by fostering collaboration and partnerships among the private sector, academic institutions and research institutes.
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.
Northern Ontario Heritage Fund Corp.
70 Foster Drive, Suite 200
Sault Ste. Marie, ON. P6A 6V8
The Rural Economic Development Fund (RED)
The Rural Economic Development Fund (RED) supports businesses located in communities with less than 100,000 people. Funding supports regional economic development activities through grant funding of up to 20%, covering eligible expenses of up to $1 million to promote innovation and collaboration while strengthening the supply chain in rural Ontario.
Aboriginal Funding Nishnawbe Aski Development Fund
106 Centennial Square, 2nd Floor
Thunder Bay, ON P7E 1H3
1-807-623-5397 or 1-800-465-6821
Sault Ste. Marie Economic Development Corporation
The Sault Ste. Marie Economic Development Corporation provides funding such as their Start Company Program. The Starter Company Program is a key part of Ontario’s comprehensive Youth Jobs Strategy that was announced in the 2013 budget.
The Starter Company Program provides mentoring, training and capital for youth to start, grow or buy a small business. For the purposes of this Program, youth are defined as those between 18 and 29 years of age.
Starter Company provides:
training and business skills development to help youth prepare to run their own business;
advice and mentor opportunities from local business leaders to help get the business up and running;
experience running a business that will better position youth to obtain more traditional financing, such as a bank loan, if required; and
Where applicable/eligible, a micro-grant to kick-off a new business or expand an existing business.
To learn more about the Starter Company Program or other funding opportunities provided by the SSM EDC;
Sault Ste. Marie Economic Development Cooperation
99 Foster Drive-Level Three
Sault Ste. Marie, ON Canada P6A 5X6
Phone: (705) 759-5432
Fax: (705) 759-2185
OTHER Business Financing and Grants Available
There a number of other funding programs including for research, hiring of employees and to assist women, persons with disabilities and low-income entrepreneurs. Call the Economic Development Corporation of Wawa for more information into the many programs available @ 705-856-4419.
For more funding programs please refer to our Wawa EDC Small Business Start-Up Guide by clicking the link below: