$39.4 million in funding available through CFDCs to help local small businesses weather the COVID-19 pandemic.
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 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.