INTEREST FREE BUSINESS LOANS
BORROW $40,000 AND PAY BACK ONLY $30,000
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 contend with the impact of a devastating pandemic. A central component of this plan is the Regional Relief and Recovery Fund (RRRF) which assists those who may not be eligible for other programs or who may require additional relief.
Since RRRF was launched, thousands of businesses have been supported, helping them to retain employees, cover operational costs and play a critical role in our economic recovery. Community Futures Development Corporations have provided crucial financial and counselling support for southern Ontario’s rural businesses, helping to maintain 3,500 jobs across the region. Locally, 1000 Islands Community Development Corporation and Grenville Community Futures Development Corporation have combined to assist 58 businesses that maintained 379 jobs.
Support continues to be offered in the form of interest-free loans in amounts up to $40,000 to address fixed operating costs of businesses that have been negatively impacted by COVID-19. Loans are not repayable until December 31, 2025 and up to $10,000 may be forgivable with early repayment.
Businesses already receiving funds from other government programs are eligible to apply with some conditions.
Funding applications are available at www.ticdc.ca (613-345-6216) andINTEREST FREE BUSINESS LOANS
BORROW $40,000 AND PAY BACK ONLY $30,000
https://www.canada.ca/en/department-finance/economic-response-plan.html
Please apply early as funds are limited.
