In a response to help small and medium-sized businesses impacted by COVD-19 who have been unable to access federal relief programs, FedDev Ontario and Community Futures Ontario has announced the New Regional Relief & Recovery Fund.
To specifically help the communities in Elgin county, the Elgin Business Resource Centre will be providing qualifying businesses with loans up to $40,000.
Specified businesses include businesses such as retail shops, restaurants and other businesses of strategic importance to the community.
Other criteria include:
- being established prior to March 1, 2020
- impacted adversely by the COVID-19 pandemic
- viability and not experiencing other financial difficulties prior to March 1, 2020
- have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.
Please see the Elgin Business Resource Centre (https://www.elginbusinessresourcecentre.com/regional-relief-and-recovery-fund/) or FedDev Ontario (https://www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_02581.html?OpenDocument) for more information.