This program supports high-growth, innovative Small and Medium-sized Enterprises (SMEs) in rural and urban communities by offering loans of $150,000 to $500,000 (up to $1 million on exception) to support all aspects of growth challenges facing them. SOFII provides interest-bearing business loans to support innovation and growth in small and medium sized enterprises (SMEs) across the region.
The Southern Ontario Fund for Investment in Innovation (SOFII) loan fund acts as a catalyst for increased investment in and support for innovation and is one element in the emerging climate of support for high-growth companies in Southern Ontario. Launched by the Government of Canada in July 2012, SOFII is supported through FedDev Ontario and is delivered by Community Futures Eastern Ontario. SOFII is a $30 million fund, available to eligible organizations across Eastern Ontario.
- Late stage commercialization
- New product or service development
- New applications or markets
- Development or implementation of new processes or technologies
- $1 million loan amounts
- Interest Bearing term loans
- No Fees
- Repayable anytime without penalties