Ontario’s $1-billion loan program aimed at shielding key industries from U.S. tariffs is being welcomed by large manufacturers, but small businesses say that for now, they have been left out.
Launched last week by Finance Minister Peter Bethlenfalvy and Economic Development Minister Vic Fedeli, the Protect Ontario Financing Program offers loans of up to $40 million for companies in the steel, aluminum, and automotive sectors that have been hit by U.S. Section 232 tariffs.
But the eligibility rules, which include a minimum of $2 million in annual revenue and at least 10 employees, have rendered the program out of reach for most small businesses.