FAQs - Home | NOHFC

Q: Can we hire an intern before we receive a decision on our application?

If you hire an intern before getting funding approval and your application is denied, NOHFC is not responsible for any costs related to the intern. If your application is approved after hiring, NOHFC will only cover the intern if you can prove that the hiring process was fair and transparent, the intern meets the program guidelines, and all other program requirements are met. Exceptions might be made for apprenticeship internships.

Q: What type of insurance is my organization required to maintain?

If you receive funding, you must show that you have the right insurance to run your business and employ the intern. This includes at least $2 million in commercial general liability insurance. You’ll need to provide an insurance certificate that names the Northern Ontario Heritage Fund Corporation and its staff as additional insureds. The certificate should also include a cross-liability clause, contractual liability coverage, and a 30-day notice period for cancellations or changes.

Q: What happens during the request for reconsideration process?

When requesting reconsideration, you need to provide more information or documents that address the issues mentioned in your decline letter. You might need to work with the assigned service provider and submit an updated project proposal. The revised proposal will be evaluated by a committee, and you’ll receive a written decision once it’s reviewed by the Board of Directors.

Q: My project was deemed ineligible or was declined. What can I do?

If your project is declined or deemed ineligible, NOHFC will send you a written explanation. For questions or concerns, contact your local Regional Economic Development Branch (REDB). You can request reconsideration if you provide new, relevant information that addresses the reasons for the decline. To do this, email the contact from your decline letter with your NOHFC file number, a detailed explanation, and any supporting documents.

Q: May I repay my loan early?

Unless your funding contract says otherwise, you can make extra payments at any time without a penalty. Check your contract for details on repayment terms. If you have questions, contact your Project Officer.

Q: How do I get an amortization schedule for my loan?

Contact the Project Officer assigned to your project.

Q: How do I repay my NOHFC loan?

Your funding contract will specify when and how much you need to repay. You'll need to complete and return a signed Pre-Authorized Payment Form (PAP) to NOHFC. NOHFC will then withdraw the scheduled payments from the bank account you provide on the form.

Q: Will I be required to submit any reports about my project?

Yes, the funding contract will list all reporting requirements. If you have questions about the reports, ask your Project Officer.

Q: What if I have changes to my project?

For conditional contributions and loans, you must inform your Project Officer about any proposed project changes. You’ll need to fill out a change request form from your funding agreement. NOHFC will review and decide on changes case by case. If needed, NOHFC will inform you if the contract requires an amendment.