The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic. The Fund, valued at more than $962 million nationally, is delivered by Canada’s six regional development agencies.
In southern Ontario, $252.4 million is available as follows:
Funding available through your local CFDC
In order to provide targeted assistance to the small towns and communities they serve, CFDCs will focus on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities.
Applications can be submitted for:
Funding available through FedDev Ontario
FedDev Ontario is delivering $213 million in funding support to SMEs impacted by COVID-19 that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures.
*Should you be interested in a loan of $40,000 or more and meet the following eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.
Eligible applicants must:
For the RRRF funding provided directly by FedDev Ontario, priority may be given to SMEs that fall within the manufacturing, technology, tourism and other sectors key to the region, that are major employers in small communities, or that support the government’s commitment to underrepresented groups.
Please note: Applicants will not receive RRRF assistance from both their local CFDC and FedDev Ontario. Review the program guidelines to see which stream is right for you and contact us if you have any questions before applying.
Small Business and Social Enterprise clients can apply for financial assistance from the CFDC for up to $250,000
Need funds to start or expand your business or Social Enterprise? Looking to purchase equipment or inventory?
We’ve got the flexible financing options that will work for you.
A customized financing solution, including flexible payment terms and no prepayment penalties are features we build into every loan.
Community Futures is very involved in offering SME's (Small & Medium Sized Enterprises) and Social Enterprises information, advice and resources when starting, expanding or maintaining their business. This can involve assisting with the completion of a business plan, budgeting, marketing and in-depth accounting and processes.
For more information or to book an appointment please call our office and speak withCarolyn at (613) 332-5564 extension 203
In addition to one-on-one assistance, Community Futures offers seminars, frequently in partnership with other organizations such as Chambers of Commerce, the Small Business Centre and financial institutions, to provide information and training on such topics as e-business, marketing, board governance, leadership skills and customer service.
In creating our community economic development strategy, the questions are:
Keeping these two questions in mind, CFDC has addressed the principles that: