On May 26, 2020 the London Economic Development Corporation (LEDC) and officials from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) hosted a webinar about the new Regional Relief and Recovery Fund (RRRF).
The RRRF was launched on May 13th, 2020 and provides interest-free loans to SMEs that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures. These loans are intended 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, including FedDev Ontario.
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 business support, delivered by southern Ontario’s Community Futures Development Corporations.
In this webinar, FedDev Ontario walks you through the application guidelines and eligibility criteria for the RRRF, and responds to key questions about the program.
Thanks to FedDev Ontario and Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario) and MP for London West, for joining us for this discussion on RRRF.
For COVID resources, please visit: london-business-covid19.com and get in touch with us.
