CORNWALL, Ontario – Businesses in Cornwall & The Counties CFDC catchment area may be eligible to benefit from additional funding through the Government of Canada’s Regional Relief and
Recovery Fund November 23, 2020 Akwesasne, City of Cornwall, and the United Counties of SD&G Today, the Cornwall & The Counties CFDC announced that businesses in Akwesasne, Cornwall and Stormont, Dundas and Glengarry may be eligible to benefit from additional relief funding through the Government of Canada’s Regional Relief and Recovery Fund.
This additional funding has been made available because of a $440,000 investment by the Government of Canada in Cornwall & The Counties CFDC through the Regional Relief and Recovery Fund. This funding is a top-up to the $1,095,412.67 investment by the Government of Canada in May 2020, for a total funding allocation of $1,535,412.67.
Canada’s COVID-19 Economic Response Plan has helped to protect millions of jobs, provide emergency support to families and keep businesses afloat as they deal with the impact of COVID-19. A central part of this is the Regional Relief and Recovery Fund (RRRF), which helps support those who may not be eligible for other programs. Since the Fund was launched in May, over 1,000 businesses have been assisted through the RRRF by the region’s Community Futures Development Corporations (CFDCs), helping them keep their employees, cover costs and play a role in our economic recovery.
Since the launch of the RRRF, CFDCs have provided critical support for southern Ontario’s rural businesses, maintaining 3,500 jobs in the region.
Support for workers and businesses across southern Ontario With the second wave upon us, businesses across southern Ontario need more support – now. That’s why the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, announced on October 2, an additional $184 million for FedDev Ontario to help more businesses across southern Ontario through the RRRF.
$30 million in additional CFDC funding Community Futures Development Corporations (CFDCs) will deliver $30 million of FedDev Ontario’s additional funding to businesses in rural communities across southern Ontario.
CFDCs are providing financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID19 pandemic.
Regional Relief and Recovery Fund Top-Up Announcement News Release Template for CFDCs Funding available through Cornwall & The Counties CFDC Cornwall & The Counties CFDC has an additional $440,000 available in RRRF funding to distribute to eligible local businesses. To provide targeted assistance to the small towns and communities we serve, Cornwall & The Counties CFDCis focusing on assisting a range ofbusinesses in our region with loans up to $40,000.
Please visit our website for more information on eligibility and the application process. Should you be interested in a loan of $40,000 or more and meet the eligibility criteria outlined on FedDev Ontario’s website, you may wish to apply to FedDev Ontario.
