OCAF has three aims: (1) to increase cultural tourism by providing investments to assist Ontario organizations to develop, promote and present one- off or first time events, or a significant expansion of existing activity, which are designed to attract new tourists and visitors to cultural events; (2) increase the earned revenue capability of the applicant organization; and (3) support events that foster economic growth and contribute to job creation. It achieves this by providing up front working capital directed towards the applicant’s marketing and promotional costs, with the investment taking the form of a partially repayable loan. Eligible recipients of the fund include Ontario-based, not-for-profit and/or charitable professional arts, heritage or cultural organization, or an Ontario municipality / municipal agency, or First Nation, Band Council, Metis, Inuit community that is undertaking a major project in the arts or heritage sector.