Ontario Introduces $1 Billion Loan Program to Support Businesses Impacted by US Tariffs

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Ontario Introduces $1 Billion Loan Program to Support Businesses Impacted by US Tariffs

Ontario Finance Minister Peter Bethlenfalvy in a file photo. The Canadian Press/Andrew Lahodynskyj

Ontario is rolling out a $1 billion loan program to provide emergency funding to businesses that have been hard-hit by U.S. tariffs.

Finance Minister Peter Bethlenfalvy unveiled the $1 billion Protect Ontario Financing Program at a press conference held in Queen’s Park this week, emphasizing that the fund will support struggling industries, including the province’s steel, aluminum, and automotive sectors.

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