Looking for Business Funding in Ontario? Here's What You Need to Know
- Lisa Shaw
- 43 minutes ago
- 3 min read
Starting a business in Ontario is an exciting step—but let’s be honest, it can be expensive too. Whether you’re launching your first startup, opening a café, or taking a side hustle full-time, getting the right funding can make all the difference.
The good news? There are tons of grants, loans, and support programs out there to help new business owners like you start strong and grow with confidence. In this blog, we’ll walk you through some of the most helpful funding options available in Ontario and how to get started.
1. Canada Small Business Financing Program (CSBFP)
If you're looking to finance equipment, renovations, or big business purchases, this is a great place to start.
What it is: A government-backed loan program
Who it’s for: New and existing small businesses
How much: Up to $1 million through participating banks and credit unions
Even though it’s not a grant, the CSBFP can make borrowing easier because the government shares the risk with your lender.
2. Starter Company Plus
This one’s a favourite for many new Ontario entrepreneurs—and for good reason.
What it is: A grant + business training and mentorship
Who it’s for: Anyone 18+ starting, expanding, or buying a small business
How much: Up to $5,000 in grant money
You’ll get business coaching, planning support, and a chance to pitch for funding. It’s run through local Small Business Enterprise Centres (SBECs), so check your area to see what’s available.
3. Futurpreneur Canada
If you’re a young entrepreneur with a solid idea, this program is made for you.
What it is: A loan program with mentorship
Who it’s for: Entrepreneurs aged 18–39
How much: Up to $60,000 in funding
Futurpreneur teams up with BDC (Business Development Bank of Canada) to offer startup financing—and they’ll match you with a mentor to guide you through your first two years.
4. Northern Ontario Heritage Fund Corporation (NOHFC)
Living or planning to run a business in Northern Ontario? You’ve got access to some special funding opportunities.
What it is: A mix of grants and loans to support economic growth in the north
Who it’s for: Businesses based in Northern Ontario
Programs include: Entrepreneurship, expansion, innovation, and more
They offer funding to cover up to 75% of project costs for eligible businesses.
5. Business Development Bank of Canada (BDC)
BDC isn’t just about loans—they offer real business advice, too.
What it is: Financing + advisory services
Who it’s for: Startups and growing businesses
Good for: Buying equipment, increasing cash flow, marketing, hiring, and more
BDC is a go-to resource for business owners who are ready to scale—or just want help navigating the early stages.
6. Indigenous Business Funding
If you’re an Indigenous entrepreneur, there are several programs that offer culturally relevant support and funding.
What it is: A variety of grants and loans
Who it’s for: First Nations, Inuit, and Métis entrepreneurs and communities
Where to look: Indigenous Services Canada, NACCA, and local organizations
From business planning to startup capital, these programs are designed to help Indigenous-owned businesses succeed.
Tips to Boost Your Chances of Getting Funding
Have a solid business plan – Most programs want to see your vision clearly mapped out.
Know your numbers – Be ready with a basic budget or financial forecast.
Start local – Reach out to your local business centre or economic development office for help.
Apply early – Deadlines sneak up fast, and funding is often limited.
Wrapping Up
There’s a lot of support out there for new business owners in Ontario—you just need to know where to look. Whether you’re applying for a grant, loan, or mentorship program, the first step is getting informed and reaching out.
Starting a business is a big move, but you don’t have to go it alone. Take advantage of the tools, funding, and people ready to help you succeed.
