Eastern Ontario Development Fund — Business project loans

For established businesses in eastern Ontario planning a major expansion, the Eastern Ontario Development Fund — Business Project Loans can help bridge the gap between ambition and execution. This program is designed for companies that are ready to scale through significant investments, whether that means expanding production, adopting new technologies, building workforce skills, or breaking into new markets. It focuses on projects that go beyond day-to-day operations and deliver lasting economic benefits for both the business and the surrounding region.

Delivered by Ontario’s Ministry of Economic Development, Job Creation and Trade, the fund supports growth-focused projects across communities such as Ottawa, Peterborough, Lanark, Renfrew, and other parts of eastern Ontario. Eligible businesses can access interest-free loan financing that may reach into the millions, with total support often covering a portion of eligible project costs. A key advantage is that part of the loan may be forgiven when businesses meet agreed-upon investment and job creation targets, reducing the long-term cost of financing growth. The program is particularly well-suited for companies with a solid operating history that are prepared to make substantial capital investments and commit to creating new, sustainable jobs.

Applications are typically accepted on an ongoing basis, and projects are assessed on their potential regional impact as well as business outcomes. For companies considering a transformative investment in eastern Ontario, exploring the full details of this fund can help determine whether it fits your expansion plans.