Regional Relief and Recovery Fund RRRF

PLEASE NOTE FUNDS FOR THIS PROGRAM THROUGH NOTTAWASAGA FUTURES HAVE BEEN DISBURSED.  

$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:

  • $213 million for SMEs facing financial pressure; and
  • $39.4 million to provide rural businesses with access to capital and technical support, delivered by southern Ontario’s Community Futures Development Corporations.

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:

  • Be a Canadian or provincially incorporated business, co-operative or an Indigenous-owned business located in southern Ontario with 1 to 499 full-time equivalent employees;
  • Be facing funding pressures with fixed operating costs as a result of COVID-19;
  • Have been a viable business before the COVID-19 pandemic and plan to continue to operate their business or resume operations.
  • Have already applied to other Government of Canada emergency credit relief measures for which they are eligible, as outlined in the program guidelines.

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.

For more information, please visit the FedDev Ontario website and consult the Applicant Toolkit.

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.

   

 
FED
Canada
OTF