Here is a new Gov’t of Canada COVID-19 support plan – hopefully it will benefit some of you. If you need assistance working your way through the material, please give me a call.
The Government of Canada has introduced a number of measures to support businesses, organizations, workers and communities through the COVID-19 global challenge, as part of Canada’s COVID-19 Economic Response Plan.
To offer additional support to businesses, the organizations that support them and the communities in which they operate, the Government of Canada announced over $1.7 billion in additional funding for targeted measures. This includes the new national $962-million Regional Relief and Recovery Fund, which provides $675 million in financing support to small- and medium-sized enterprises (SMEs) that are unable to access existing COVID-19 measures, and $287 million to support rural businesses with access to capital through Community Futures Development Corporations.
As a CFDC we are pleased to participate in this important Government of Canada initiative in introducing the local stream of the Regional Relief and Recovery Fund (RRRF), which provides repayable loans to help small- and medium-sized enterprises (SMEs) with fixed operating costs, where business revenues have been affected by the COVID-19 pandemic.
IF YOU ARE: a business operating in Lanark County or North Leeds, with business impacts challenged by the COVID-19 pandemic, you may be eligible for local RRRF support through interest free loans up to $40,000.
You can learn more at www.valleycfdc.com. In order to provide targeted assistance to the communities we serve, Valley Heartland CFDC will focus on providing RRRF assistance to sole proprietors, “main street” businesses, such as retail shops, restaurants, corner stores, social enterprises as well as businesses of strategic importance to the community.
CONTACT US TODAY and review our Program + Application Guidelines to learn if your business is a fit for the local component of the Regional Relief and Recovery Fund.
PLEASE NOTE: Incorporated SMEs may also be eligible to receive RRRF support direct from FedDev Ontario, for amounts up to $500,000. However, cannot receive funds from both a CFDC and FedDev Ontario. We encourage you to visit the FedDev Ontario website for more information on eligibility criteria for direct funding.
Though working remotely, our team remains here to help you. Please contract us via email or phone below or visit our website at https://www.valleycfdc.com/rrrf
Phone: 613 283 7002.