Overview

As part of our commitment through the 2025 Ontario Budget the Protect Ontario Financing Program is designed to provide critical support for businesses that are facing significant tariff-related disruptions as a result of s.232 tariffs on steel, aluminum and autos. This fund will provide immediate relief for Ontario businesses that are facing s.232 tariff-related working capital challenges, such as:

  • payroll
  • lease payments
  • utility payments

Eligibility

The fund supports for-profit businesses (legal entity or limited partnership) registered to carry out business in Ontario.

To be eligible, organizations need to meet all of the following criteria:

  • operate within the province of Ontario
  • operate within (either direct exporter or supporting the supply-chain) the following sectors that are subject to s.232 tariffs: steel, aluminum, autos
  • have at least $2 million in annual revenue
  • employ at least 10 full-time employees in Ontario
  • have minimum 3 years of operations and financial statements
  • facing material working capital challenges due to the imposition of s.232 U.S. tariffs (for example, your organization will have difficulty meeting short term financial obligations such as payroll)
  • have explored and exhausted or faced significant barriers in accessing federally offered financial support options to access working capital

The following organizations and scenarios are examples of ineligible applications for funding support through the program:

  • not-for-profit organizations, associations, or charities
  • start-ups (companies in early stages of development that do not have a track record of sales or operations)
  • non-working capital costs (for example, purchase of property, or new equipment)
  • refinancing of existing business lending facilities
  • acquisitions or buyouts
  • relocating to other jurisdictions (including within Ontario)

Types of support available

Funding

Funding will be provided through a term loan to support working capital costs (for example payroll, leases, utilities).

Term loan parameters:

  • minimum $250,000.00
  • repayable up to 72 months (6 years)
  • no penalty for prepayment
  • annual repayment frequency
  • applicant to demonstrate ability to meet repayment requirements and provide security satisfactory to the province

At the discretion of the province, loan parameters may include:

  • interest-bearing loan up to market prime-rate
  • potential for loan repayments to be principal-free for up to 12 months

Restrictions

Businesses are permitted to combine (or “stack”) Protect Ontario Financing Program funding with other provincial business support programs in cases where funding was previously approved and there is an existing active project.

Stacking will not be allowed for businesses seeking funding for new projects from other provincial business support programs. Businesses are allowed to combine (or “stack”) funding with federal funding support programs.

How to apply

If you are interested in assessing your potential eligibility for the program, please complete a short questionnaire.

If you meet the preliminary eligibility requirements and screen through the eligibility assessment tool, we will contact you to discuss the application process and the next steps required to qualify.

Eligible Ontario-based businesses will undergo rigorous assessment and due diligence by a third-party to ensure applications are processed in a timely manner.

Questions

For more information, please contact us at pofp@ontario.ca.