Hammond receives funding for expansionIt appears they received more funding than they originally went for, I belive they went.
for $1.5 million and got up to $3.4 million, hopefully we will see a nice pop tomorrow !!!
Hammond Manufacturing Company Ltd. will receive support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) as it expands production at its Guelph facilities.
With an investment of up to $3,461,500 in repayable support from FedDev Ontario, Hammond Manufacturing will upgrade the process it uses to make metallic and non-metallic enclosures that are used to protect electrical control panels from dust, oil and water. The company will invest in automated equipment to help it expand production and become more efficient. The project also includes energy-saving upgrades and water-recycling investments.
Also it appears the loan has a favourable interest rate.
You can read more about the term of the loan here. Part of the load could even be forgiveable.
[url=https://https://www.ontario.ca/page/southwestern-ontario-development-fund-business-stream-program-guide][/url]