About Northern Ontario Grow Bonds

Grow Bonds are provincially guaranteed bonds with competitive interest rates for residents of Northern Ontario. The proceeds will be used to fund loans to small- and medium-sized businesses only in the North.

Announced in the 2004 Ontario Budget, the Northern Ontario Grow Bonds pilot project is aimed at new and expanding businesses in Northern communities.

By investing in Grow Bonds, Northern Ontarians will be investing in their economic future and helping to increase business development in the North. Grow Bonds are designed to attract and retain new investment and jobs in Northern Ontario.

Northern Ontario means the Territorial District of Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury, Thunder Bay or Timiskaming.

The advantages of buying Grow Bonds are:

• guaranteed 100 per cent by the Ontario Government;
• proceeds stay in the North for new and expanding businesses;
• rates are competitive with GICs and similar term investments;
• available in amounts from as low as $100 to $500,000; and
• eligible for self-directed RESPs and RRSPs.

For general information on Northern Ontario Grow Bonds and the Business Loan Program please call 1-866-668-5437.

2005 ISBN #: 0-7794-77635-2

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Northern Ontario Grow Bonds Corporation

The Northern Ontario Grow Bonds Corporation Act, 2004 (the “Act”) established Grow Bonds Corporation. It received Royal Assent on December 16, 2004.

The objectives of the Grow Bonds Corporation are:

1. To foster business development in Northern Ontario.
2. To provide debt financing to be used by eligible businesses and eligible entities for such purposes as may be prescribed by the regulations.
3. To engage in such other activities as the Lieutenant Governor in Council may specify for the economic benefit of Northern Ontario, the Act, c. 31, Sched. 39, s. 3.

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