FAQs - Home | NOHFC

Q: Can I access funding from other federal and provincial sources to finance the remainder of my project?

Yes. However, the combined federal and provincial government funding may not exceed 50% of eligible project costs.

Q: What is the application process for NOHFC’s Locate program?

Before applying, you must schedule a pre-application consultation by calling NOHFC at 1-800-461-8329. A member of our team will be assigned to help you with this process. After the consultation, you'll need to submit an initial application. This will help determine if your project meets the program guidelines. If it does, you'll be notified and asked to submit a detailed business proposal.

Q: If accomodations are not eligible, are tourism businesses potentially eligible?

Many tourism businesses offering accommodation may qualify for the program. This includes businesses that are destinations for local, regional, and international visitors who stay for longer periods (like remote outfitters or family vacation resorts). However, businesses that mainly provide overnight stays for travelers (like hotels and motels) are not eligible.

Q: Can I re-submit my application if I am not successful in a funding round?

Yes. You can reapply in one future round to have your decision reconsidered. Contact a Northern Development Advisor to get help with re-applying.

Q: Are projects that develop land for re-sale or lease eligible under the Invest North program?

No, commercial and industrial land or building development is not eligible under the Invest North program. This includes things like: Building infrastructure to lease or sell Developing commercial or industrial land Projects that only cover site servicing or site development costs

Q: Are professional service businesses eligible for funding under this program?

Yes, professional service businesses , as defined by NOHFC, are eligible for funding under this program, where the new business is starting operations in a small community with no existing full-time service provider or no reasonable access to those services is available within an adjacent urban centre. Your proposal must demonstrate how the additional service offering will improve quality of life.

Q: Are tourism businesses potentially eligible given that the Invest North - Launch program guidelines reference accommodation services as ineligible?

Many tourism businesses that offer accommodation may qualify for the program. This includes businesses that serve as destinations for visitors who stay for longer periods (like remote outfitters or family vacation resorts). However, businesses that mainly provide overnight stays for travelers (such as hotels and motels) do not qualify.

Q: How long will I have to retain the assets acquired with NOHFC’s funding support to ensure I do not have to repay any of my funding to NOHFC?

If you want to sell or move assets funded by NOHFC outside of Northern Ontario, you'll need to get NOHFC consent first. This rule applies for up to three years, and the details will be in your funding agreement.

Q: Do I have to work at my business on a full-time basis to receive NOHFC assistance?

Business owners must work at their business on a full-time basis.

Are tourism businesses potentially eligible given that the Invest North – Launch program guidelines reference accommodation services as ineligible?

Mike Orazietti2024-11-23T14:27:09-05:00September 10th, 2024|

How long will I have to retain the assets acquired with NOHFC’s funding support to ensure I do not have to repay any of my funding to NOHFC?

Mike Orazietti2024-09-10T11:37:24-04:00September 10th, 2024|

Do I have to work at my business on a full-time basis to receive NOHFC assistance?

Mike Orazietti2024-09-09T19:57:59-04:00September 9th, 2024|