Infrastructure Ontario's Loan Program Expansion
Infrastructure Ontario's Loan Program helps organizations that would otherwise experience difficulty securing traditional sources of financing have access to the capital market financing they need to build, update or renew their infrastructure.
Together with its clients, Infrastructure Ontario has helped finance hundreds of infrastructure projects through the program - from the construction of roads, bridges and facilities to the acquisition of assets, such as land, vehicles or equipment.
Not-for-profit organizations that own or operate community hubs where both community health and social services are located together are now eligible for the loan program.
- Community health organizations include Community Health Centres, Aboriginal Health Access Centres, Community Mental Health & Addictions Centres, Boards of Health/public health units and Supportive Housing.
- Social service organizations include community agencies that are funded by the Ministry of Children and Youth Services or the Ministry of Community and Social Services, and newcomer settlement agencies.
Focusing on community health and social services hubs reinforces the government's commitment to leverage the expertise of community partners to strength the health system. By facilitating the development of community hubs, Infrastructure Ontario's Loan Program will support more efficient use of infrastructure and improve access to services.
Not-for-profit sports and recreational organizations providing sports and recreational facilities to communities throughout Ontario are also now eligible. These include sports organizations that promote amateur sports, training, fitness, wellness and sporting competitions and events.
Access to the loan program means these organizations will be better able to meet their infrastructure needs while continuing to offer quality primary health care and wellness programs.
The decision to expand the program to these new sectors comes after extensive discussions with stakeholders and ministries, and supports Building Together, Ontario's Long-Term Infrastructure Plan's commitment to expand the eligibility of organizations that can borrow under the program.
The further extension of the Infrastructure Ontario Loan Program to the not-for-profit sector was a recommendation raised by the sector through the Partnership Project, a year-long consultation with the not-for-profit sector to improve its partnership with the Government of Ontario. This expansion addresses a desire among not-for-profits for greater collaboration within the sector and for greater access to financing through the Government of Ontario.