Since 2006, Infrastructure Ontario (IO) has helped make a difference in communities across Ontario by providing affordable loans to municipal corporations. Municipal corporations can include: local distribution companies, gas utilities, municipal long-term care homes, local housing corporations, utility telecoms, transit corporations or social housing corporations.
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
Municipal corporations in Ontario that meet the following criteria may apply for an IO loan for capital expenditures:
- Section 2 of Ontario Regulation 168/03 (Municipal Business Corporations) made under the Municipal Act, 2001, all of the shares of which are held directly or indirectly by one or more municipalities;
- Section 142 of the Electricity Act, 1998, all the shares of which are held by one or more municipal corporations, or
- 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:
- Facility expansion, renovation and retrofits
- Energy conservation retrofits
- Overhead wiring and underground cabling, gas lines, pipe work
- Any development or asset classified as a capital expenditure
- Switchgear and pole structures
- Smart Meter installation
- Alternative energy generation facilities
- Transportation infrastructure
- 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 40 years; but in any event, the repayment period must not exceed the expected life of the capital asset.
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
- Ontario Energy Board license
- Documentation showing the corporation is wholly owned by a municipality
- Most recent audited financial statement
A user name and password will be e-mailed after Infrastructure Ontario has verified the registration information.