Ontario Launches Protect Ontario Financing Program to Aid Tariff-Impacted Businesses!
By Ashutosh Arora
The Ontario government has announced the Protect Ontario Financing Program (POFP), a new initiative designed to support businesses facing financial strain due to U.S. Section 232 tariffs on steel, aluminum, and autos. The program provides targeted assistance to help companies stabilize operations and preserve jobs during a challenging trade environment.
The POFP will offer term loans starting at $250,000, repayable over six years, with the option of interest-only payments for up to 12 months. These loans are intended to help companies cover essential working capital expenses such as payroll, lease obligations, and utility costs—areas often most affected by sudden tariff-related disruptions.
To qualify, applicants must be Ontario-based for-profit businesses with at least $2 million in annual revenue, a minimum of 10 full-time employees, and at least three years of operating history. Companies must also demonstrate that their financial challenges are directly tied to tariffs and show that they have already considered available federal support programs.
All applications will be subject to third-party assessment and due diligence to ensure funds are directed toward companies that can benefit most. The program is designed to complement, and in some cases be combined with, other provincial or federal support measures.
By introducing this initiative, Ontario aims to provide businesses in the steel, aluminum, and auto supply chains with the resources they need to weather trade-related headwinds, safeguard jobs, and maintain competitiveness. Companies interested in learning more or applying can contact the program office at pofp@ontario.ca.
