How SOFII Works

Eligible applicants are innovative Small and Medium-sized Enterprises (SMEs) located in Southern Ontario’s rural and urban communities who are engaged in projects for:

  • Late stage commercialization;
  • New product or service development;
  • New applications or markets; or
  • Development or implementation of new processes or technologies.

Is Your Venture Eligible?

Eligible Organizations will:

  • Employ 50 to 500 employees, or identify that there is a strong likelihood they will reach 50 employees within a three year period
  • Be unable to obtain adequate and reasonable financing from other lending sources
  • Operate in Southern Ontario
  • Demonstrate job creation/retention for Southern Ontario residents
  • Be suitable for public funding
  • Establish a reasonable expectation of economic viability
  • Demonstrate the ability to repay funds
  • Have secured matching funding through private investment, financial or equity partnerships or working capital.
  • Provide evidence of their ability or experience to operate the business
  • Demonstrate that their project encompasses one of the following:
    • Late stage commercialization;
    • New product or service development;
    • New applications or markets; or
    • Development or implementation of new processes or technologies

SMEs wishing to apply for a loan from SOFII will be required to provide a general overview of the project to determine Program eligibility Forms are available from your Regional Office or their website. See Contact Us

Review and Approvals Process

Once Eligibility is established the planned Review and Approvals Process will be comprised of these stages:

  1. A completed Questionnaire and supporting documentation will be assessed by the appropriate regional office.
  2. Within 15 business days of submission, the applicant will be advised whether to proceed to the Loan Application.
  3. The applicant submits full Loan Application and required documentation.
  4. SOFII staff check for application completeness and begin due diligence analysis. Further information may be requested.
  5. The Application is reviewed and the Applicant is advised of a decision. Decisions are communicated to the Applicant, including formal written notification.

Preliminary Questionnaires will be available from your Regional Office or their website see contact us here.

For further assistance, please contact us here.

Additional information