With the Ontario government grants loans program, if you qualify, you will be required to enter into some type of contract with them. Most often with the grants there is not a payback required, however with the loans there most likely will be. The Ontario government grants loans programs are in place to help small businesses financially in several different ways. With the loans, you will also enter into a contract. If your company runs into financial difficulty and you are having problems paying back the loan, most likely you will be able to make alternative arrangements with the loans department for the government. However the criteria for payback and circumstances will depend on the individual contract you signed.
Become a member of CanadaStartups and get access to the Funding Database with over 1,500 funding programs, access to over $612,676,848 in available funding as well as access to the Investor PitchDeck, the Investor PitchDeck and the step by step startup guide for your business. Join CanadaStartups today and take advantage of these amazing business opportunities.
You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.