The Eastern Ontario Network of CFDCs administers the Eastern Ontario portion of a regional fund called SOFII (the Southern Ontario Fund for Investment in Innovation).
SOFII supports high-growth and innovative Small and Medium-sized Enterprises (SMEs) in rural and urban communities by offering loans of usually $150,000 to $500,000 to support all aspects of growth challenges. The loans are intended to help finance:
- Late stage commercialization
- New product or service development
- New applications or markets
- Development or implementation of new processes or technologies
The Southern Ontario Fund for Investment in Innovation (SOFII) loan fund acts as a catalyst for increased investment in and support for innovation and will be one element in the emerging climate of support for these high-growth companies in Southern Ontario.
For more information on the SOFII program, contact PELA CFDC today or CLICK HERE.