What happens if my business can’t afford to pay back the Ontario government grants loans money I received?

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.

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