Who was eligible to apply for a Grow Bonds loan and what kind of criteria was used to determine eligibility?
Eligible loan applicants were assessed on the quality of the business plans provided with the loan applications. The eligibility criteria included, but was not limited to, businesses that were located in Northern Ontario and controlled by residents of Northern Ontario. Eligible projects had to result in an increase in permanent, full-time employment within the core activities of the business supported by Grow Bonds loan funds. Businesses would also be expected to repay their loans within five years.
