Eligible applicants are innovative Small and Medium-sized Enterprises (SMEs) located in Southern Ontario’s rural and urban communities who are planning to undertake projects for:
- Late stage commercialization;
- New product or service development;
- New applications or markets; or
- Development or implementation of new processes or technologies.
Eligible Organizations will:
- Employ 50 to 500 employees, or identify that there is a strong likelihood they will reach 50 employees within the term of the loan
- Be unable to obtain adequate and reasonable financing from other lending sources
- Operate in Southern Ontario
- Demonstrate job creation/retention for Southern Ontario residents
- Be suitable for public funding
- Establish a reasonable expectation of economic viability
- Demonstrate the ability to repay funds
- Have secured the necessary participation of other financial support – inclusive of possible additional funding, private investment and/or financial or equity partnerships by which monies are being provided
- Provide evidence of their ability or experience to operate the business
- Demonstrate that their project encompasses one of the following:
- Late stage commercialization;
- New product or service development;
- New applications or markets; or
- Development or implementation of new processes or technologies
SMEs wishing to apply for a loan from SOFII will be required to first complete a questionnaire providing a general overview of the project. These preliminary questionnaires will be available from your Regional Office or their website. See SOFII