Protect Ontario Financing Program: Ontario Unveils $1 Billion in Funding for Tariff Support

Ontario’s manufacturing sector is up against the stronghold of U.S. tariffs, and the provincial government has packed a powerful $1 billion counterstrike to support Canadian businesses, people, and products. 

Launched on August 13, 2025, the brand new Protect Ontario Financing Program represents the first phase of the $5 billion Protecting Ontario Account and offers sizable loans to eligible sector-specific businesses burdened by U.S. Section 232 tariffs. 

The Protect Ontario Financing Program supports key manufacturing sectors in steel, aluminum, and automotive, which are vital to the province’s industrial backbone. This blog aims to provide a clear breakdown of program objectives, eligibility, and how to apply. 

“The Protect Ontario Financing Program will help keep workers on the job in sectors that are being hit hard by tariffs while building a more resilient and self-reliant Ontario economy for the long term.” 
– Peter Bethlenfalvy, Minister of Finance 

 

Funding Snapshot: Protect Ontario Financing Program 

The Protect Ontario Financing Program is allocating up to $1 billion in government loans to help Ontario businesses in the steel, aluminum, and auto sectors weather the financial strain of U.S. Section 232 tariffs.  

Eligible Ontario businesses can access term loans starting at $250,000 and up to $40 million per client, with repayment terms of up to six years and, in some cases, interest-only payments in the first year. The funding is designed to cover working capital expenses such as payroll, leases, and utilities, giving businesses the stability needed to maintain operations and protect Ontario jobs while navigating tariff-related challenges. 

Program Objectives 

• Provide liquidity support for Ontario-based businesses hit by Section 232 tariffs. 
• Keep workers employed, operations running, and supply chains stable. 

Funding Amount 

Protect Ontario Financing Program funding amount criteria details include: 

• Minimum of $250,000 in loans 
• Repayable up to 72 months (6 years) 
• No penalty for prepayment 
• Annual repayment frequency 
• Applicant to demonstrate ability to meet repayment requirements and provide security satisfactory to the province 

At the discretion of the province, loan parameters may also include: 

• Interest-bearing loan up to market prime rate 
• Potential for loan repayments to be principal-free for up to 12 months 

Eligible Applicants 

• Incorporated, for‑profit businesses or limited partnerships registered in Ontario 
• At least $2 million in annual revenue 
• Minimum of 10 full‑time employees in Ontario 
• Three years of operations, backed by financial statements  
• Must face tariff-related working capital challenges 
• Must have explored federal support options (such as the EDC Tariff Impact Program, BDC Pivot to Grow loan, and Large Enterprise Tariff Loan Facility) 

Eligible Projects 

• Working capital needs such as payroll, leases, utilities 
• Not eligible: Equipment purchases, acquisitions, refinancing, or relocation 

Timeline 

• Businesses that pass screening are contacted within about five business days, with applications processed by a third‑party financial agent for speed and diligence. 

Ryan’s Canadian Government Funding team specializes in helping businesses navigate complex programs like the Protect Ontario Financing Program. From assessing your eligibility to preparing the required financial documentation, our experts streamline the process so you can focus on keeping operations running. Contact us to get started. 

What the Protect Ontario Financing Program Means for Ontario’s Core Sectors 

Ontario’s steel, aluminum, and auto industries are pillars of regional economies. These are not fringe sectors, they support thousands of jobs, families, and downstream businesses. The Protect Ontario Financing Program is designed to be sector-focused on tariff support to keep payrolls running, factories open, and supply chains intact amid tariff shocks. 

Tariff Subsidies for Steel Manufacturers 

Ontario is Canada’s steel-making powerhouse, with three major producers and a supply chain supporting over 16,500 workers. With U.S. tariffs squeezing margins and threatening layoffs, this funding acts as shield and a lifeline to preserve production and protect jobs. 

Tariff Subsidies for Aluminum Manufacturers 

Aluminum firms are deeply tied into North American supply chains. Tariffs disrupted both export channels and cost averages. This program’s loans target those working capital pinch points so operations can stay steady and markets dependable. 

Tariff Subsidies for Auto Manufacturers 

Ontario’s auto sector is tightly integrated with U.S. manufacturing. Section 232 tariffs have made parts and vehicle costs spike. The program offers auto businesses breathing room to cover leases, payroll, and utilities, thus keeping assembly lines moving and safeguarding jobs. 

“The tariffs levied by the U.S. government have left Ontario’s steel, aluminum, and auto sectors exposed to unprecedented challenges. Through the Protect Ontario Financing Program, our government will provide $1 billion in critical relief to protect workers and businesses at the front lines of our economy, ensuring that critical supply chains are equipped to weather the uncertainty of today, while building resilience to seize the opportunities of tomorrow.” 
– Vic Fedeli, Minister of Economic Development, Job Creation and Trade 

A Look at Tariff Funding Beyond Protect Ontario 

The Protect Ontario Financing Program fits into a broader funding ecosystem. If your Canadian business also needs help with smaller operations, expansion, or shorter-term relief, there are alternative government funding programs available:  

• For small-business support in Ontario, check out the Ontario Small Business Support Grant. 
• If you’re navigating tariff impacts more broadly, our LETL Financial Relief for Canadian Enterprises blog breaks it down. 
• Planning growth outside of tariff support? Explore the Ontario Together Trade Fund. 

Reach out to our Ryan Canada Government Funding team today. We’ll help you navigate the Protect Ontario Financing Program and other tariff support programs that fit your business. Let’s get your application started and ensure your operations stay resilient.