The Regional Relief and Recovery Fund (RRRF) provides liquidity support to businesses and not-for-profit organizations affected by the economic impacts of COVID-19, that are unable to access other federal relief measures, or require additional support. The Fund, valued at more than $2 billion nationally, is delivered by Canada’s regional development agencies. In southern Ontario, $436.4 million is being delivered by FedDev Ontario and the Community Futures Development Corporations (CFDCs).
Funding available through your local CFDC
Covid19 Support provided to date:
RRRF loans and business support: 25 businesses supported with $894,889, working with Grand River Employment and Training we provided $100,000 to assist 12 businesses adapt sales channels and operations during this crisis.
With the support of the Government of Ontario we committed $2,035,000 to an additional 42 businesses.
In order to provide targeted assistance to the small towns and communities they serve, CFDCs are helping a range of businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $50,000. Not-for-profit (NFP) organizations that provide support services to SMEs as well as those engaging in commercial activities will be eligible for liquidity support.
Eligible CFDC applicants must also meet the following criteria:
Applications can be submitted for:
Funding available through FedDev Ontario
Should you be interested in a loan of $60,000 or more and meet the eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.
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.
Loans are available to assist with: starting a new business, expanding an existing business, acquisition of an existing business, purchasing equipment, and working capital for inventory and day to day expenses.