Step #9: Financing Your Business

Funding Opportunities

Prior to opening a business, you should evaluate what resources are needed to start and operate your business, what resources you currently have, and what resources are needed. There is no guarantee that funding will be available to help you start your business. Ensure that researching financing options is a priority before starting your business.

Your business may qualify for one or more of the government funding assistance programs below. Learn more by visiting the individual resources listed.

Financing Options

• BDC Business Financing – Business Development Bank of Canada (BDC) has many business financing programs for businesses and entrepreneurs including Women in Tech and Women Entrepreneurs
• Farm Credit Canada Financing – focused on supporting agriculture, agribusiness, and food and beverage businesses
• Canada Small Business Financing Program – most start-ups and existing for-profit small businesses in Canada with gross revenues of $10 million or less are eligible to apply for loans under this program. Such businesses can be corporations, sole proprietors, partnerships, or cooperatives
• Community Futures Program – various loan programs for urban and rural businesses
• LendingLoop – Canada’s most affordable online business loan – built for small business owners
• Fair Finance Fund – for food entrepreneurs
• Futurpreneur – various programs for entrepreneurs including mentorship and financing up to $75,000
• Rise Asset Development – low-interest small business loans when a traditional loan is not an option
• Access Community Capital Fund – helping people overcome financial barriers to achieve a better life through small loans, education, and mentoring
• Alterna Savings Micro-Financing – micro-lending initiatives
• Swoop Funding – loans, financing, and grants for small businesses

Government Grants & Financing

• Federal Business Grants and Financing – grants, loans, private and public sector financing, and leveraging personal assets
• Available funding opportunities from the Ontario Government – what funding is currently available from the Government of Ontario, if you’re eligible and what you need to apply
• Ontario Centre of Innovation – digitalization SME grant
• Starter Company Plus – for start-up businesses less than two (2) years of age
• Summer Company – for enterprising youth ages 15-29 returning to school
• Black Entrepreneurship Program – loan funds and more to help black Canadian business owners and entrepreneurs grow their businesses
• Canada Council for the Arts – championing Canadian artists through grants, services, and prizes
• Ontario Arts Council – provides grants to Ontario-based individual artists and arts professionals, ad hoc groups/collectives, and organizations. Grants support a range of arts activities and disciplines
• Yves Landry Foundation – grants to advance technological education and skills training to resolve the skilled labour and technical professional shortages facing the Canadian industry
• SOCAN Foundation Relief Fund – provides grants for Canadian music creators and publishers working to promote appreciation for Canadian music in today’s society.
• Grants and Subsidies for Agriculture – Ministry of Agriculture, Food and Rural Affairs
• Export Development Corporation (EDC) – provides Canadian exporters with financing, insurance, and bonding services, as well as foreign market expertise
• Ontario Trillium Foundation – offers a range of grants to support non-profit organizations

Grant Search Platforms

Search grants, incentives, and tax credits across all industries and regions.

• Mentor Works
• The Funding Portal
• City of Hamilton Funding Finder

Angel Investors & Venture Capital

Angel investing goes beyond providing funds to start-up businesses. Unlike venture capitalists, angels are involved in the start-up businesses that they invest in to ensure higher returns.

Angel groups in Ontario:

• Angel One Investor Network  (Oakville)
• Capital Angel Network  (Ottawa – Gatineau)
• Georgian Angel Network  (Collingwood)
• Maple Leaf Angels  (Toronto)
• Northern Ontario Angels  (Thunder Bay)
• Spark Angel Network  (Durham and Northumberland)
• Southwestern Ontario Angel Group  (London)
• York Angel Investors  (Vaughan)

Funding for Indigenous Entrepreneurs

• Waubetek Business Development Corporation – delivers business financing and economic support services to Aboriginal entrepreneurs and First Nation communities.
• Nishnawbe Aski Development Fund – offers a variety of services to support Aboriginal business and economic development, including financing, business support, community planning, workshops, and bookkeeping training.
• Indian Agricultural Program of Ontario – offers small business financing to support First Nations entrepreneurs and businesses. Funding is offered for equipment, business start-up and expansion, and commercial real estate financing.
• Provincial Funding for Indigenous Entrepreneurs

Training, Employment & Innovation

• Training & Employment (Hamilton Economic Development) – Comprehensive list of training, employment, and human resource programs available by various levels of government, not-for-profits, and various other agencies. Subsidies, grants, tax credits, and counseling may be available to fit your company’s training and employment needs
• Innovation Programs (Hamilton Economic Development) – Comprehensive list of R&D and Innovation programs offered by various levels of government, not-for-profits, and other delivery agencies. Tax credits, grants, and cost-sharing may be available for your company’s research and development, innovation, and export needs