Since 2006, Infrastructure Ontario (IO) has partnered with hospices across Ontario to help provide access to affordable financing for capital investments, providing communities with end-of-life care for people with life threatening and terminal illnesses.
With a convenient online application, no additional fees and flexible terms, our loans provide affordable access to the capital markets for those who are otherwise unable.
IO’s knowledgeable staff is here to work with you to develop the best financing solution to help you achieve your goals.
Eligibility
Hospices in Ontario that meet the following criteria may apply for an IO loan for capital expenditures:
- A corporation approved under section 2 of the Charitable Institutions Act for persons requiring long term care;
- A licensee under the Nursing Homes Act or successor legislation to which Part III of the Corporations Act applies
For more information on eligibility requirements, please see the program guidelines.
Eligible Projects
IO loans can be used for any capital investments, including:
- Facility expansion, renovation and retrofits
- Facility or land acquisition
- New construction projects
- Energy efficiency projects (windows, doors, lighting, etc.)
- Water, hydro, HVAC and communications system
- Accessibility improvements
- Vehicles and maintenance equipment
Rates and Terms
IO’s lending rates provide equitable access to affordable financing for all clients. Lending rates are based on the credit strength of each sector. To view today’s lending rates, click here.
Clients may select repayment terms of 5 to 10 years; but in any event, the repayment period must not exceed the expected life of the capital asset. The loan interest rate varies with the term of the loan.
How to Apply
Register for a username and password by contacting Infrastructure Ontario at 1-800-230-0937.
The following documents will need to be provided to Infrastructure Ontario to obtain a username and password:
- Articles of Incorporation/Letters Patent
- Funding/Service Agreement with MOHLTC (if none, evidence of commitment for MOHLTC for funding)
- Most recent audited financial statement
A user name and password will be e-mailed after Infrastructure Ontario has verified the registration information.
All applicable forms and templates are available within the Webloans application.