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.
No.
Yes. You can reapply in one future round to have your decision reconsidered. Contact a Northern Development Advisor to get help with re-applying.
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
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.
Business owners must work at their business on a full-time basis.
No, beverage alcohol manufacturing companies are not considered eligible under NOHFC’s INVEST North – Launch, Grow or Locate programs. However, Ontario’s Ministry of Agriculture, Food and Rural Affairs has a number of resources available on their website in support of beverage manufacturing in Ontario.
In most cases, the decision to hire a lawyer rests with you. However, where NOHFC funding is provided by way of a secured loan or a secured loan and conditional contribution, you will need to hire a lawyer to represent you on the transaction. Your lawyer will need to provide a legal opinion to NOHFC and conduct certain other legal work required to complete the transaction.