Small businesses are at the heart of our economy and are vital to our communities.
The COVID-19 pandemic has resulted in uncertainty and anxiety for businesses and their employees. We are here to help.
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.
The Regional Relief and Recovery Fund (RRRF) is a new program offered through FedDev Ontario and Community Futures Ontario 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. We are here to help our “main street” businesses such as retail shops, restaurants and corner stores.
Effective immediately the Elgin Business Resource Centre is accepting applications for RRRF interest-free business loans up to $40,000.
About the RRRF:
- 0% interest loan with no payments 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
TO FIND OUT MORE AND TO APPLY
Contact Kevin Jackson, General Manager, Elgin Business Resource Centre
Email: [email protected]
Call: 519-633-7597 ext 337
NOTE: FedDev Ontario is also offering funding through the RRRF program. Eligible businesses can make ONE application to the RRRF, either through the Community Futures Program (Elgin Business Resource Centre for Elgin County) OR through FedDev Ontario, NOT BOTH.
For information and to apply to the FedDev Ontario RRRF, please visit FedDev Ontario website.