Forest Sector Investment and Innovation Program (FSIIP) – Business Projects
$3,000,000
Grant, Loan
Description:
The Forest Sector Investment and Innovation Program (FSIIP) – Business Projects program provides funding for strategic investments in the forest sector to for-profit manufacturers and processors of wood and forest biomass across Ontario.
Strategic investments must improve productivity and innovation, enhance competitiveness, support new market access, provide benefits to Ontario’s broader forest sector and strengthen regional economies.
Comments on Funding:
Applicants may apply for either a loan or a grant, not both.
Funding is up to 30% of eligible costs in the form of a performance-based loan, of which, up to 50% may be forgivable (if job, investment, and payroll targets met). During the repayment period, after the project completion date, interest will be charged at Ontario’s cost of borrowing plus 3%.
Grants of up to 15% of eligible costs may be considered in exceptional situations at the discretion of the province.
Stacking with other provincial funding programs is not allowed. Stacking with other government support (for example, federal or municipal) is allowed to a maximum of 50% of eligible project costs.
Rolling deadline
Eligibility:
Applicants must be for-profit manufacturers and processors of wood and forest biomass across Ontario, including:
1. saw mills,
2. pulp and paper mills,
3. secondary wood manufacturers,
4. bio-economy projects (utilizing forestry-based inputs).
Harvesting and hauling companies/projects are not eligible for funding.
Application Steps:
Applicants must:
1. submit a Stage I application. To apply, they must login to Transfer Payment Ontario and complete the Stage I Eligibility Checklist and Application Form.
2. submit a fully completed Stage II Business Plan and all required supplemental documents by the Stage II deadline, if they successfully passed Stage I.
There is a 2-stage application and evaluation process, as following:
– Stage I: project overview to determine whether project meets eligibility criteria and assessment of how well the project aligns with the objectives of the program;
– Stage II: competitive, rounds-based project evaluation process, including financial and technical due diligence and project risk assessment.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
