• This program is currently closed.



Type of Program:



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:

  • zero percent interest until December 31, 2022;
  • NO principal payments required until December 31, 2022;
  • principal repayments can be made voluntarily at any time;
  • 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is repaid by December 31, 2022;
  • if any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a term loan at up to 5% annual interest. Effective January 1, 2023.
  • the full balance must be repaid no later than December 31, 2025.

When It Ends:



Rolling Deadline


Applicant must:

  • be SMEs in the 1000 Islands Region interested in a loan of up to $40,000 that are either ineligible or rejected from other government relief measures, or that have operating expenses in excess of the support received.
  • have been established prior to March 1, 2020;
  • have been impacted adversely by the COVID-19 pandemic;
  • be viable and not experiencing other financial difficulties prior to March 1, 2020;
  • have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.

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:

  1. 1
    submit the online application form;
  2. 2
    demonstrate 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:

  1. 1
    direct support through FedDev Ontario for SMEs facing financial pressure due to COVID-19, for amounts up to $500,000.
  2. 2
    support 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.

About the author 


Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.


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