Government of Canada Provides Additional Relief Funding to Elgin Business Resource Centre
Effective February 22, 2021
Regional Relief and Recovery Fund (RRRF) support available through EBRC has been fully committed. Eligible organizations are encouraged to contact us to discuss other funding and relief options available.
Contact General Manager Kevin Jackson at [email protected] or call 519-633-7597 x 337
The Elgin Business Resource Centre (EBRC) is a community-based non-profit economic development organization funded by the federal government to deliver the Community Futures Program in Elgin County. We are committed to assisting businesses in our communities.
FedDev Ontario introduced the Regional Relief and Recovery Fund (RRRF) program in May 2020 to provide financial assistance to small and medium-sized businesses impacted by the COVID-19 pandemic and who are unable to access the Government of Canada’s existing relief measures. In Elgin County alone, this program put nearly $1M into the hands of local businesses. FedDev Ontario recognizes the continued needs of rural businesses and has provided additional program funds to assist more local entrepreneurs.
About the RRRF:
- 0% interest loan with no payments required until December 31, 2022
- 25% (not to exceed $10,000) of loan can be forgiven provided the business has paid 75% of the original loan amount prior to December 31, 2022
- If the business is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with low interest rate, effective January 1, 2023
Eligible Applicants Must:
- be established prior to March 1, 2020
- be impacted adversely due to the COVID-19 pandemic
- be viable and not experiencing financial pressures prior to March 1, 2020
- have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses in excess of support already received