Downtown Ontario Restaurant Equipment Loan Program
The City of Ontario is dedicated to fostering economic growth and supporting small businesses in the heart of Downtown Ontario. The Restaurant Equipment Loan Program offers forgivable loans of up to $10,000 to help independent restaurants, wineries, craft breweries, eateries, and distilleries thrive by filling vacant commercial spaces with sustainable businesses.
Purpose, Goal, and Objective of Program
This program is designed to:
- Promote the growth of Downtown Ontario.
- Support small, independent businesses.
- Revitalize vacant commercial spaces with sustainable and thriving establishments.
Qualified Equipment
Eligible equipment includes:
- Beer keg shelves, cookers, crowler machines, and deep fryers.
- Freezers, grills, ovens, and reach-in coolers.
- Refrigerators, sinks, steam tables, and food display cases.
How it Works
- Loan Forgiveness: The loan balance is reduced by 20% each year the business remains operational at the qualifying location. After five (5) years, the loan is fully forgiven and marked as paid in full.
- Early Exit: If the business leaves before the five-year term, the remaining loan balance must be repaid to the City.
Eligibility Criteria
- Located within Downtown Ontario’s designated program area.
- Possess a valid business license and necessary permits for equipment installation.
- Operate as a restaurant, brewery, or distillery under qualifying definitions.
- Maintain a 5-year lease agreement or longer.
- Business size under 10,000 square feet.
Application Process
- Complete the application, including:
- A 5+ year lease agreement.
- Equipment description and installation plan.
- Proof of purchase (receipts).
- City staff reviews eligibility.
- Business enters into a loan agreement.
- Funds are disbursed upon approval.