By Cecilia Nasmith
The Northumberland Community Futures Development Corporation has announced its participation in Regional Relief and Recovery Fund in support of businesses unable to access the Federal government's existing relief measures and rural businesses hoping for enhanced access to capital.
Announced May 13 by the Honourable Melanie Joly, Minister of Economic Development and Official Languages, this $962-million fund will see $252.4-million made available in southern Ontario distributed through FedDev Ontario agencies such as CFDCs.
These agencies are making available $39.4-million in interest-free loans to help support the fixed operating costs of small and medium-sized businesses whose revenues have been affected by the COVID-19 pandemic.
In Northumberland, loans of up to $40,000 to assist such main-street businesses as retail shops, restaurants, corner stores and businesses of strategic importance to the community.
“We are very pleased to now be offering the Regional Relief and Recovery Fund to support the Northumberland business community, in partnership with FedDev Ontario and the Government of Canada,” Northumberland CFDC executive director Wendy Curtis said in the announcement.
“We expect high demand and encourage local businesses to consider applying soon.”
More information on eligibility and the application process, visit the Northumberland CFDC website. You may also wish to apply to FedDev Ontario through their website.
