Protect Ontario Financing Program
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Eligibility & Details
What this program funds and who can apply
Program Description
Term loans starting at $250,000 for Ontario businesses in the steel, aluminum, copper, and automotive sectors facing working-capital shortfalls due to U.S. Section 232 tariffs. Interest up to prime rate, repayable over up to 72 months with potential 12-month grace period. Part of the $5B Protecting Ontario Account.
Eligibility Requirements
- For-profit business registered in Ontario
- Operating in sectors subject to U.S. s.232 tariffs: steel, aluminum, copper, automotive
- Minimum $2,000,000 annual revenue
- Minimum 10 FTE employees in Ontario
- Minimum 3 years of operations with financial statements
- Facing material working capital challenges due to U.S. tariffs
- Must have first explored/exhausted federal financial support options
- The applicant business must have at least 3 years of operations with audited financial statements
Quick Assessment
Funding Details
- Amount
- Minimum $250,000 (no stated maximum; part of $1B envelope)
- Type
- Loan
- Level
- Provincial
- Financing share
- Up to 100% of eligible costs
- Deadline
- Ongoing (launched August 2025)
Program Scorecard
Competition, effort, and approval at a glance
Everything you need to secure Protect Ontario Financing Program
Not a marketing summary. The actual checklist, intel, and stack strategy reviewers look for.
- 5-document checklist with what each reviewer is actually checking
- 5-step application timeline with prep hours per step
- Insider tip from program officers on what separates winners
- 2-program stacking strategy to combine with compatible funding
- Success profile + evaluation criteria — exactly what lenders look for
How to qualify
Insider tips, common pitfalls, and what successful applicants look like
Insider TipYou must demonstrate you've explored federal support options first — this is explicitly a 'last resort after federal' program. The 12-month principal-free grace period is available but not automatic. Interest rate is at the province's discretion up to prime — negotiate. This targets steel, aluminum, copper, and auto sectors specifically — general manufacturers affected by tariffs are NOT eligible unless they are in the supply chain for these sectors.
Success Profile
Ontario steel mills, aluminum fabricators, copper processors, and Tier 1-3 automotive suppliers with $2M+ revenue experiencing working capital strain from U.S. tariffs.
Evaluation Criteria
Assessed on demonstrated tariff impact, financial viability, recovery plan, and confirmation that federal options were explored.
Application Playbook
Step-by-step process, required documents, and expenses
Application Steps
Required Documents 5
Eligible Expenses 2
- Working capital for operations affected by tariffs
- Cash flow bridging during tariff-impacted periods
Ineligible Expenses 4
- Capital equipment purchases
- Refinancing existing debt
- Business acquisitions
- Relocations
Deadline Notes
No stated close date. Applications accepted on an ongoing basis. Must demonstrate material working capital impact from U.S. tariffs. Must have explored federal financial support options first.
Open Application Portal →Ineligible Organizations
- Non-profits
- Charities
- Startups
- Businesses outside steel/aluminum/copper/auto sectors
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Funding Stack Strategy
Compatible programs, clawback risk, and combined funding potential
Compatible Programs
Clawback Risk
Not-applicable RiskStandard loan — repayment required per terms.
How Protect Ontario Financing Program Compares
Side-by-side with similar programs
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|---|---|---|---|---|
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Frequently Asked Questions
Quick answers to the questions founders most often ask about Protect Ontario Financing Program