The Government of Canada has announced a new national $962 million Regional Relief and Recovery Fund (RRRF), which provides $675 million in financing support to small- and medium-sized enterprises (SMEs) that are unable to access existing COVID-19 measures and $287 million to support rural business’ and communities with access to capital through Community Futures Development Corporations (CFDCs).
FedDev Ontario will deliver $213 million in RRRF funding throughout southern Ontario. Southern Ontario CFDCs will deliver $39.4 million in funding to support rural businesses in the communities they serve.
Through the new RRRF, there is available:
Through the new Regional Relief and Recovery Fund, Canada’s six RDAs are delivering:
- $675 million in support to SMEs that are unable to access other federal COVID-19 relief measures; and
- $287 million for the national network of Community Futures Development Corporations (CFDCs) to provide funding and other support to small businesses in rural communities;
- in southern Ontario, FedDev Ontario will invest $213 million by providing interest-free repayable contributions (loans) to help support business’ fixed operating costs, where revenues have been affected by the COVID-19 pandemic. The RRRF seeks to support southern Ontario SMEs to address gaps in or supplement other federal relief measures, as well as complement those provided by other levels of government. In particular, the RRRF seeks to provide support to southern Ontario SMEs that do not qualify for, or have been rejected from, current Government of Canada COVID-19 relief measures, or are experiencing ongoing funding needs despite having accessed other funding measures.
For assistance: 1-866-593-5055.
Qualify and apply here:
https://www.feddevontario.gc.ca/eic/site/723.nsf/eng/home
