The Honourable Mélanie Joly, Minister of Economic Development and Official Languages released details of the Regional Relief and Recovery Fund (RRRF) to support small businesses impacted by COVID-19. The funding will be allocated as follows:
Of the $252.4 million allocated to FedDev Ontario, $213 million have been allocated to provide interest-free loans for businesses in Southern Ontario that do not qualify for or have been declined for other COVID-19 business supports.
Priority will be given to SMEs in the manufacturing, technology and tourism sectors that are major employers in small communities or that support the government’s commitment to underrepresented groups.
The additional $39.4 million will be allocated to provide rural businesses with access to capital and other business support.
For information on supports made available across the Federal, Provincial and Municipal Governments please consult CPCA link to the federal and provincial governments here.