Amount:
$40,000
Type of Program:
Loan
Description:
Through the Local Stream of RRF, 1000 Islands Community Development Corporation will provide loans of up to $40,000 in the small towns and communities they serve, focusing on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities.
Comments on Funding:
Funding will take the form of loans of up to $40,000 to help address working capital needs.
Loan terms and conditions:
When It Ends:
Closed
Deadline:
Rolling Deadline
Eligibility:
Applicant must:
CFDCs may give priority to “main street” businesses and small/micro enterprises, including, for example, retail shops, restaurants, corner stores etc. and businesses of strategic importance to the community. Businesses may also be eligible to receive RRRF funds from FedDev Ontario, but may not receive RRRF assistance from both a CFDC and FedDev Ontario.
Applications Steps:
Applications can be submitted online. The application process will be publicly available until all funding is allocated.
For additional information, applicants should contact a Business Loans Officer, Mr. Bob Myers, by e-mail (bob.myers@ticdc.ca) or by phone (345-6216 ext. 103).
Documentation Needed:
Applicants must submit:
- 1submit the online application form;
- 2demonstrate through an attestation that they have not or will not apply or accept other equivalent Government of Canada support.
Other Things to Note:
RRRF funding is available through two streams:
- 1direct support through FedDev Ontario for SMEs facing financial pressure due to COVID-19, for amounts up to $500,000.
- 2support through CFDCs for rural main street businesses and small/micro enterprises in communities serviced by CFDCs. RRRF funding through CFDCs will be limited to contributions of $40,000 or less. Eligible SMEs can apply directly to these CFDCs for financial support to relieve the economic challenges posed by COVID-19.
This funding is for the 2020-21 fiscal year.
This Fund is closed.
