Investing in Business Growth and Productivity (IBGP) provides up to 25% of your large-scale project up to $10,000,000 in Government 0%-interest loan if your are expanding your established business. The funding is administered by FedDev Ontario.
Objective of Investing in Business Growth and Productivity (IBGP)
- Get funding up to $10,000,000 for expanding your business in Southern Ontario
- 0% interest loan
- 5 years payback
- 12 months grace period
- no collateral
- Must be a for-profit business located in Southern Ontario
- Minimum 3 years in business
- Must present a sustainable business model
- Must have a track record of profitability
- Must meet project budget criteria, minimum $2,000,000
- Equipment Purchase
- Building Construction, Upgrades & Modification
- Software and Hardware Purchase
- Installation Costs
- External Consulting
- One-time Labour Cost
- Business Planning to support your Statement of Intent;
- Writing Statement of Intent to Participate in Investing in Business Growth and Productivity (IBGP) Program;
- Assisting in Writing the Application;
- Assisting in Report / Claim Writing.
Examples of Projects Funded Investing in Business Growth and Productivity (IBGP) Program
1. Dajcor Aluminum Ltd. will receive an investment of up to $2.48 million from FedDev Ontario to increase production capacity at its Chatham facility. This repayable contribution, through FedDev Ontario’s Investing in Business Growth and Productivity (IBGP) initiative, will help Dajcor Aluminum adopt innovative technologies and enhance its facilities. With the upgrades, the company will be able to manufacture more complex and high-quality aluminum components such as transit door assemblies, ventilation systems and LED light enclosures. Dajcor Aluminum will also be able to diversify and expand into new global markets. This investment will positively impact the metal and chemical supply chains as Dajcor Aluminum purchases most of its supplies from Ontario vendors (Source).
2. Dishon Limited will receive a FedDev Ontario investment of up to $3 million to expand production at the Vaughan facility and create up to 60 new full-time equivalent jobs – nearly doubling the company’s workforce. This repayable contribution, through the Investing in Business Growth and Productivity (IBGP) initiative, will allow Dishon Limited to invest in state-of-the-art machinery to increase competitiveness, diversify its customer base and pursue growth opportunities in both current and new global markets. Increased production from this project will positively impact its supply chain relationships with over 75 Canadian companies, primarily based in Ontario’s aerospace cluster (Source).