New Funding for Regional Relief and Recovery Fund
June 2, 2021
By Bob Peters
Cornwall Ontario – Relief funding to support businesses which may not be eligible for other programs is still available through Cornwall & The Counties CFDC.
Over the past year, Cornwall & The Counties CFDC has injected over $2M in Relief funding to over 65 businesses, , helping them keep their employees, cover costs and play a role in the nation’s economic recovery.
Locally funding is available of up $60,000, with a forgivable portion of up to 1/3 if the loan is repaid by Dec. 31, 2022.
Conditions apply, including:
- Applies only to businesses in operation as of March 2020
- Businesses must show they were not in financial difficulty prior to COVID
- Businesses that got CEBA or were previous recipients of RRRF are NOT eligible
- If businesses received other supports (CEWS, CERS, ON Small Business Grant, ON Tourism Grant) they CAN still apply
- Applications must be completed before June 30, 2021
Businesses in Cornwall, SDG and Akwesasne can contact the Cornwall & The Counties Community Futures Development Corporation for more information on funding.
“Time is of the essence as funding is limited. All applications must be submitted by June 30th,” says Doreen Ashton Wagner with the Cornwall & The Counties Community Futures Development Corporation. “We want to help as many businesses as possible. Please contact us today!”
Ms. Wagner can be contacted directly at 613-932-4333 or by email to email@example.com.
- In southern Ontario, FedDev Ontario has allocated a total of $436.4 million through the RRRF.
- In addition to the hundreds of businesses receiving support directly, key FedDev Ontario investments made to-date through the RRRF include:
- $50 million to help main street businesses and SMEs reignite their recovery and embrace a digital future.
- $4.5 million to help Francophone businesses, not-for-profits and social enterprises in official languages minority communities (OLMCs).
- $4 million to support women-led businesses in southern Ontario.
- Recognizing the significant impact that COVID-19 has had on tourism in the region, FedDev Ontario has invested nearly $68 million in RRRF funding to support the recovery and growth of this important industry.
- Delivered by Canada’s regional development agencies (RDAs), the Fund addresses gaps left by other federal relief measures and complements those already provided by other levels of government.
- This funding for FedDev Ontario is part of an additional $600 million in RRRF funding announced today for RDAs across the country. Community Futures Development Corporations (CFDCs) will provide $30 million of FedDev Ontario’s additional funding to businesses in rural communities across southern Ontario.