Ontario Expanding Infrastructure Loan Program
McGuinty Government Supports Not-for-Profit Organizations
Ontario is expanding the eligibility of Infrastructure Ontario's Loan Program to include additional not-for-profit sectors that provide infrastructure for families and people in local communities.
Eligibility for the program is being expanded to not-for-profit organizations that own or operate community hubs where both community health and social services are offered, as well as not-for-profit sports and recreation organizations that provide facilities to serve the needs of Ontarians.
By expanding the program, Ontario is helping not-for-profits to:
- Acquire debt financing to help meet their infrastructure needs
- Increase their access to infrastructure financing
- Improve health care and social services in communities
Working to strengthen not-for-profit infrastructure is part of Building Together, Ontario's long-term infrastructure plan to repair, rebuild and renew infrastructure in communities throughout Ontario.
- Expanding the loan program builds on the Partnership Project Report, Ontario's not-for-profit sector strategy.
- The loan program was previously expanded to key social and affordable housing providers in 2008.
- Details about the loan program and the online application will be posted on Infrastructure Ontario's website as they become available.
- To date, Ontario has committed to financing over $4.5 billion in infrastructure loans, helping clients improve the quality of life in communities across Ontario.
- The not-for-profit (NFP) sector supports over one million jobs and contributes close to $50 billion to the province's economy.
“Access to the loan program allows these organizations to borrow for new infrastructure or repair and refurbish existing facilities, while continuing to provide important services that benefit communities across Ontario.”
“Our province's not-for-profit organizations touch the lives of all Ontarians. We heard it loud and clear from the sector -- this initiative will help them continue to provide the crucial services that help make our people healthier and our communities strong and full of vitality.”
“This is an important step in providing needed and necessary infrastructure that supports people who are the most vulnerable in our communities.”
“Not-for-profit sports and recreational organizations play an important role in our communities in promoting amateur sports, training, fitness, and overall wellness programs and events. These organizations will now be able to access alternative financing to further enhance, improve, build and maintain sport and recreational facilities.”
“Broadening the scope of the infrastructure loan program is a welcome innovation that will provide much-needed support to the vital not-for-profit sector in Ontario.”
“Healthy lifestyle choices and the ability to engage in active living are important elements in a strong and vibrant community. Access to the Infrastructure Ontario Loan Program means that the National Capital Region Y will continue providing our community with a high level of service in safe and modern facilities. We are thrilled with this opportunity.”