In southern Ontario, $436.4 million is being delivered as follows:
To date, Kawartha Lakes Community Futures Development Corporation has administered more than $880,000 in RRRF funding to 24 local businesses for fixed operating expenses and has maintained 131 jobs.
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 from $10,000 up to $40,000. 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.
The loans offered will be conditionally non-repayable: 25 percent of the loan (not to exceed $10,000) can be forgiven provided the recipient has paid 75 percent of the original loan amount prior to December 31, 2022.
Some not-for-profit (NFP) organizations are also eligible for RRRF support for community-based projects such as providing technical or support services to local businesses.
SMEs and eligible NFP organizations in need of technical and professional assistance to adapt to the current COVID-19 environment may be eligible to receive support from the CFDC to access these services at no cost, through third-party service providers.
Examples of support services include:
- adapting workflows and processes (e.g., digital needs assessment);
- advice for diversifying their markets and sales channels;
- adapting and adopting a virtual sales platform; and
- adapting to new safe workplace regulations related to COVID-19.
Should you be interested in a loan of $40,000 or more and meet the eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.
If you are a NFP that does not have a revenue stream, you should check your eligibility for a non-repayable loan by contacting FedDev Ontario directly.
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.