• Municipal Corporations

    Since 2006, IO has helped make a difference in communities across Ontario by providing affordable loans to Municipal Corporations for infrastructure renewal and development. Municipal corporations can include the following types of municipally-owned organizations: local distribution companies, gas utilities, long-term care homes, local housing corporations, utility telecoms, transit corporations or social housing corporations. 

    Eligibility 

    Municipal Corporations in Ontario that meet any of the following criteria may apply for an IO Loan for capital investments:

    • Subsection 203 (1) of the Municipal Act, 2001 or subsection 148 (1) of the City of Toronto Act, 2006, all the shares of which are held by one or more one or more municipalities;
    • Section 142 of the Electricity Act, 1998, all the shares of which are held by one or more municipal corporations
    • Part III of the Social Housing Reform Act, 2000 as local housing corporations  

    For more information on eligibility requirements, please see the program guidelines.

    Eligible Projects

    IO loans can be used for any capital investments, including:

    • New construction projects
    • Facility expansion, renovation and retrofits
    • Distribution lines, meters, transformers and equipment upgrades
    • Various power generation (hydro, solar, etc.) and distribution projects 
    • Vehicles and rolling stock

    Rates and Terms  

    IO’s lending rates provide equitable access to affordable financing for all clients. Please contact your Relationship Manager for today’s rate information. Municipal Corporations may select repayment terms of 5 to 30 years, to match the life of the capital asset.

    For More Information  

    Contact your regional account manager, please click here.