Type of Program:
The Regional Relief and Recovery Fund (RRRF) will support vulnerable businesses and eligible not-for-profit organizations that are impacted by the economic disruption associated with the COVID-19 pandemic across the regions of Canada. Applicants are eligible to receive up to 100% of total eligible bridge support costs, covering up to a twelve (12) month period.
Comments on Funding:
Applicants are eligible to receive up to 100% of total eligible bridge support costs, covering up to a twelve (12) month period.
The RRRF will provide unconditionally repayable and conditionally repayable contributions to eligible small and medium-sized enterprises, of normally up to a maximum of $500,000 for a period of up to twelve months (12). Support to eligible not-for-profit organizations and First Nation band-owned businesses whose articles of incorporation do not permit dividends to be paid or distributed to shareholders will be non-repayable.
When It Ends:
Applicants must demonstrate that the amount requested from FedNor is incremental and does not duplicate other supports, if they have received financial support from BOTH the Canada Emergency Wage Subsidy (CEWS) AND any other Government of Canada COVID-19 business credit support program.
Applicants must complete the application for financial assistance package requirements in full, including the above required documentation as per Part II of this Application Guide.
The FedNor Application for Financial Assistance Form is the primary tool used to submit applications to FedNor.
Applicants will automatically receive an acknowledgement notification, including a project reference number.
Applicants must submit a complete and detailed application. Application for financial assistance package consists of the following documents:
Other Things to Note:
A continuous intake of applications will be accepted from the launch of the program on October 2, 2020. Once the funds are allocated, applications will no longer be accepted.
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.