Since 2006, Infrastructure Ontario (IO) has enabled Ontario’s non-profit long-term care homes to access affordable financing for capital investments that provide communities with equitable access to quality long-term care accommodation.
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
Long-term care homes 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 but not limited to:
- Accessibility improvements
- Vehicles and maintenance equipment
- Bed redevelopment projects
- Construction or renovation of facilities
- Energy efficiency projects (windows, doors, lighting, etc.)
- Water, hydro, HVAC and communications systems
- Assets and equipment (recreation, rehab and maintenance vehicles)
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 25 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
• Funding/Service Agreement with MOHLTC (if none, evidence of commitment for MOHLTC for funding)
• Nursing Home License (if applicable)
• Most recent audited financial statement
A user name and password will be e-mailed after Infrastructure Ontario has verified the registration information.
Please note: long-term care providers financing B or C bed redevelopment projects must submit the completed LTC Loan Feasibility form prior to receiving their user name and password for the online application system.