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RRRF Now Accepting Applications up to $60,000

RRRF3 - 2

The Regional Relief and Recovery Fund (RRRF) provides liquidity support to businesses and not-for-profit organizations affected by the economic impacts of COVID-19, that are unable to access other federal relief measures, or require additional support. The Fund, valued at more than $2 billion nationally, is delivered by Canada’s regional development agencies. In southern Ontario, $436.4 million is being delivered by FedDev Ontario and the Community Futures Development Corporations (CFDCs).

Funding available through your local CFDC

In order to provide targeted assistance to the small towns and communities they serve, CFDCs are helping a range of businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $60,000. Not-for-profit (NFP) organizations that provide support services to SMEs as well as those engaging in commercial activities will be eligible for liquidity support.

The loans offered will be conditionally non-repayable, as outlined below:

For loans issued totaling $40,000 or less: 25 percent of the loan (not to exceed $10,000) can be forgiven provided the recipient has paid 75 percent of the original loan amount prior to December 31, 2022.

For loans issued totaling more than $40,000 and up to $60,000: If the outstanding balance is paid back in full by December 31, 2022, up to 25 percent of contributions up to $40,000 can be forgiven (to a maximum of $10,000), and up to 50 percent of contributions from $40,000 to $60,000 can be forgiven (to a maximum of $10,000).

Balances not paid back in full by the deadline are fully repayable and must be repaid no later than December 31, 2025.

Eligible CFDC applicants must also meet the following criteria:

  • Established prior to March 15, 2020;
  • Impacted adversely by the COVID-19 pandemic;
  • Viable and not experiencing other financial difficulties prior to March 15, 2020;
  • Have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.

Applications can be submitted for:

  • Loans of up to $60,000 to provide liquidity support for fixed operating costs to maintain regular operations where revenues or cash flows have been affected by the COVID-19 pandemic.

Next steps:

  • Follow the application process by going to www.rccfdc.org/financing and requesting a RRRF Application
  • Contact us, your local CFDC, by telephone (613-431-3951) or email (info@rccfdc.org).
  • Complete the application.

Funding available through FedDev Ontario

Should you be interested in a loan of $60,000 or more and meet the eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.

For more information, please visit the FedDev Ontario website and consult the Applicant Toolkit.

 

Please note: Applicants will not receive RRRF assistance from both their local CFDC and FedDev Ontario. Review the program guidelines to see which stream is right for you and contact us if you have any questions before applying.

Now Accepting Applications for RRRF Top Ups

Now available to existing RRRF recipients!

On February 5, 2021, the Government of Canada announced a $500 million top up to the Regional Relief and Recovery Fund (RRRF) to ensure the program continues to preserve jobs and businesses across the country, and to replicate loan limit increases (up to $60,000) in the Canada Emergency Business Account program.

For more information contact your RRRF CFDC contact:

Mike Thompson: mike.thompson@rccfdc.org
George Gilfillan: george.gilfillan@rccfdc.orgNOW AVAILABLE.

Northumberland and Renfrew Community Futures organizations collaborate to provide a Funding Application Video Tutorial to assist Local Businesses

News Release

For Immediate Release

 

January 15, 2021

Northumberland and Renfrew County Community Futures Development Corporations (CFDCs) have recognized a need to provide business owners with a much needed video tutorial to assist them in pursuing current and future funding applications.

In response to new challenges that businesses are facing, Canada’s Covid-19 Economic Response Plan has helped protect millions of jobs, provide emergency support to families and sustain businesses as they deal with the impacts of the pandemic. Much of this support has come in the form of new programs, loans, funds and other business assistance tools.

With the amplified delivery of many of these programs, both CFDCs have seen an increase in requests for support and advice in completing the associated applications succinctly, concisely and in a compelling manner. Writing funding applications and pulling together the supporting documentation can at times seem daunting, time consuming and even confusing to applicants who in many cases are seeking funding support for the first time.

With this new online tutorial, business applicants will have access to an overview of how to fully complete their funding submissions in an easy-to-use video. The goal of the tutorial is to de-mystify the process and coach applicants on how to strengthen their proposal for consideration by the funder.

The Funding Application Writing Fundamentals Tutorial can be accessed below and is available in both English and French.

English Tutorial: https://www.youtube.com/watch?v=qYqm6Dcg-yY

French Tutorial: https://www.youtube.com/watch?v=h8vsS1z494s

Quotes

“With many programs under our management and others for which we are providing advisory services, we’ve seen acute increase in business clients requesting help in completing the various funding applications. We recognize, particularly for first time applicants, the process can seem bewildering particularly in these unprecedented times where there has been an array of new programs developed in response to a changing situation.  Northumberland CFDC is pleased to partner on the “how to” project as led by Renfrew County CFDC.  The development is supported by the FedDev Ontario- RE3 (Rebuild, Reopen, Revive) program though the materials and learning can be applied across any program in helping clients to crystallize and strengthen their proposal to be as competitive as possible.  We will be inviting multiple organizations to share the video link with their various clientele as a solid ongoing tool for business to use.” – Wendy Curtis, Executive Director, Northumberland CFDC

We understand the challenges that small business face, with such an extensive array of funding opportunities it is only natural to feel overwhelmed, especially in a time of crisis.  It was as a result of such factors that birthed the “how to” project as a resource to alleviate added stress when submitting a funding application. We are confident this video can be used as a go to guide in preparing a more competitive proposal.” – Diane McKinnon, Executive Director, Renfrew County CFDC

 

Quick Facts

  • Northumberland Community Futures Development Corporation (CFDC) provides financing and strategy support for entrepreneurs. Delivering an array of entrepreneurial development and finance programs funded by FedDev Ontario, Northumberland CFDC also manages an investment portfolio that drives business start-up and expansion.
  • Northumberland CFDC (for Eastern Ontario) and WindsorEssex Economic Development Corporation (for southwestern Ontario), in collaboration with regional partners, delivered the REBUILD REOPEN REVIVE initiative to support women-led small- and medium-sized enterprises in rural and urban communities across southern Ontario. Both organizations received $2 million to provide non-repayable contributions of up to $5,000 to help eligible women-led businesses. Over 700 women-led businesses were supported through this initiative.
  • Renfrew Community Futures Development Corporation (RCCFDC) provides support to enterprise, community-based development and employment in Renfrew County. Funded by FedDev Ontario, RCCFDC provides a host of business services to assist entrepreneurs and may provide financing to small businesses who were unsuccessful in obtaining traditional financing.
  • 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.

 

Contacts

Erika Seggie

Northumberland CFDC

1.866.670.1191

905.372.8315

erika.seggie@northumberlandcfdc.ca

 

Kelley Lemenchick

Renfrew County CFDC

613.431.3951

Kelley.lemenchick@rccfdc.org

Government of Canada Provides Additional Relief Funding to Renfrew County Community Futures Development Corporation

Businesses in Renfrew County may be eligible to benefit from additional funding through the Government of Canada’s Regional Relief and Recovery Fund

November 23, 2020                                                                                           Renfrew

Today, the Renfrew County Community Futures Development Corporation announced that businesses in Renfrew County 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 $1,500,000 investment by the Government of Canada in Renfrew County Community Futures Development Corporation through the Regional Relief and Recovery Fund. This funding is a top-up to the $994,888.67 investment by the Government of Canada in May 2020, for a total funding allocation of $2,494,888.67.

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.

For example, as a result of COVID-19, Whippoorwill Cottages, a family owned and managed resort on Calabogie Lake, was faced to create an environment to social distance and practice an ongoing sanitation program in cabins, common areas and with all shared recreational equipment. To ensure social distancing, the resort dedicated seating areas and recreational equipment for each cabin. With the support of the RRRF through Renfrew County Community Futures, Whippoorwill Cottages hired additional summer help to maintain a rigid sanitation program with sanitation products and supplies provided at each cabin, at the recreational equipment centre and throughout the common areas. The resort was able to offer a safe and well managed experience to many visitors during the summer.

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 COVID-19 pandemic.

Funding available through Renfrew County Community Futures Development Corporation

Renfrew County Community Futures Development Corporation has an additional $1,500,000 available in RRRF funding to distribute to eligible local businesses. In order to provide targeted assistance to the small towns and communities we serve, Renfrew County Community Futures Development Corporation is focusing on assisting a range of businesses 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.

Quotes

“Small- and medium-sized businesses have been hit hard by COVID-19, and the Regional Relief and Recovery Fund is here to help them, protecting over 43,000 jobs across Southern Ontario. With the second wave upon us, we’ve heard clearly from businesses and workers that more support is needed. That’s why we’re enhancing and expanding the RRRF to help even more Ontarians. Our message to them is clear: we’ve been here for you with significant measures, we’re here for you now and we’ll get through this, together. We’re working with you to support good, local jobs and help our economy come back strong.”

 —The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario

“The businesses, workers and organizations in Southern Ontario’s rural communities are a significant part of our region’s economic strength. We know they have faced challenges as a result of the pandemic and we are providing support to keep them vital. The resilience of the communities and the local support that our CFDCs are continuing to deliver will mean a strong recovery.”

– Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario)

“The Renfrew County Community Futures Development Corporation has been working steady to assist small and medium sized businesses since the pandemic crisis started in mid-March. This recent funding announcement is a welcome addition to the assistance we have been able to provide up to now.”
– Ray Bonnenberg, Chair, Renfrew County Community Futures Development Corporation

“COVID-19 created much confusion and anxiety in the spring of 2020.  We did not know when our business would open or how we could run it safely when it did open.  We reached out to the Renfrew County Community Futures Development Corporation and they were able to put some of our fears to rest.  There were one on one conversations to help us determine how to proceed, and much needed suggestions that we have implemented.  We really look forward to continuing our business relationship with RCCFDC in the years to come.”

Valerie Popkie, The White Pines Cottage Resort

Quick Facts

 

  • CFDCs deliver a wide variety of programs and services to support community economic development and small business growth. They employ local staff and are each governed by a volunteer board of directors, made up of local residents representing the community.
  • Through RRRF, Renfrew County Community Futures Development Corporation provided $994,888.67 in liquidity support to help 36 local businesses impacted by the pandemic to cover fixed operating costs and maintain 159.5 jobs.
  • Local businesses and organizations that have applied for but were unable to access existing federal COVID-19 relief programs are encouraged to contact Renfrew County Community Futures Development Corporation for more information.
  • Principal repayments can be made at any time and 25% (not to exceed $10,000) of the loan can be forgiven provided the recipient has paid 75% of the original loan amount prior to December 31. 2022.
  • If the recipient is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with interest rates up to 5%, effective January 1, 2023. The full balance must be repaid by no later than December 31, 2025.

 

Associated Links

 

Contacts

RCCFDC Media Relations Contact
Diane McKinnon
email:  diane.mckinnon@rccfdc.org

 

RRRF REOPEN – NOW ACCEPTING APPLICATIONS

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The Regional Relief & Recovery Fund has REOPENED!

To Apply:

  • Go to www.rccfdc.org/financing
  • Scroll down to the fillable form; enter your contact information and click “send”.
  • An application will be automatically sent to your email address. If you don’t receive the application within five minutes (don’t forget to check your junk mail), contact info@rccfdc.org
  • Email your completed application to submissions@rccfdc.org

The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.

Funding available through RCCFDC:

In order to provide targeted assistance to the small towns and communities they serve, RCCFDC will focus on assisting sole proprietorship “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $40,000.

Details of the RRRF Loan:

  • Maximum assistance will be $40,000
  • 0% interest and no principal payments until December 31, 2022
  • Principal repayments can be voluntarily made at any time
  • 5% (not to exceed $10,000) of the loan can be forgiven provided the recipient has paid 75% of the original loan amount prior to December 31, 2022
  • If the recipient is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with interest rates of 5%, effective January 1, 2023. The full balance must be repaid no later than December 31, 2025.
  • Grants and non-repayable contributions are prohibited

Eligible RCCFDC applicants must also meet the following criteria:

  • Established prior to March 1, 2020;
  • Impacted adversely by the COVID-19 pandemic;
  • Viable and not experiencing other financial difficulties prior to March 1, 2020;
  • Have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.

Apply Now for RE3

re3

Northumberland CFDC and WindsorEssex Economic Development are working collaboratively within our regional entrepreneurial ecosystems to advance women-led SMEs across Southern Ontario, effectively positioning for rapid and positive post-pandemic economic recovery.  It’s time to restart your business and the new RE3 initiative is here to support you.

Canadian women entrepreneurs are key to our economic success as a country, and they make invaluable contributions to our communities. However, women still face unique and systemic barriers to starting and growing a business, and they remain underrepresented in our economy.

The COVID-19 pandemic has disproportionately impacted women entrepreneurs. It has severely affected sectors such as retail, hospitality and food services—sectors where women entrepreneurs are most present.

For these reasons, RE3 is focused on supporting and strengthening the position of Women-led SMEs in our economic recovery, reformation and revitalization.

With the support of FedDev Ontario, RE3 provides non-repayable performance-based contributions of up to $5,000 to assist Southern Ontario-based Women-led small and medium-sized enterprises (SMEs) to REBUILD, REOPEN and REVIVE their businesses.

On a competitive basis, RE3 offers a one-time, performance-based, and non-repayable funding of up to $5,000 for:

  • Acquisition of required/mandated Personal Protection Equipment (PPE)
  • Workspace reconfiguration to accommodate physical distancing
  • Hardware/software upgrades to enhance online capacity, client servicing, and accessibility.

Does RE3 align with your plan for business resilience and renewal? Then we encourage you to apply now! Click on the links below for more information or to apply.

For more information: https://financingandstrategy.com/re3/

To apply: https://app.reviewr.com/womenledsmes/site/SO_Women_Led_SMEs_Program 

 

FedDev Ontario supports women-led businesses to rebuild, reopen and revive in southern Ontario

RE3 Twitter EN

News release

Government of Canada invests $4 million to support over 700 women-led businesses across southern Ontario

July 17 2020 – Cobourg, Ontario

Women-led businesses often face unique challenges, which have been amplified by the impacts of COVID-19 on our economy. As the economy reopens, these businesses need support to adapt their operations and position themselves for a successful recovery.

Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, visited Venture13 in Cobourg, home of the Northumberland Community Futures Development Corporation (CFDC). There, she announced a $4-million FedDev Ontario investment in support of women entrepreneurs across southern Ontario, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario.

With this investment through the Regional Relief and Recovery Fund (RRRF), the Northumberland CFDC and WindsorEssex Economic Development Corporation, in collaboration with regional partners, will deliver the Rebuild Reopen Revive Initiative to support women-led small- and medium-sized enterprises in rural and urban communities across southern Ontario. Both organizations will receive $2 million to provide non-repayable contributions of up to $5,000 to help eligible women-led businesses with key re-opening expenditures, including:

  • Acquisition of reusable personal protective equipment (PPE);
  • Reconfiguration of workspaces to accommodate social distancing impacts; and
  • Enhancing online capacity to improve accessibility and client service.

Over 700 women-led businesses will be supported through this initiative. Interested SMEs can visit Northumberland CFDC (eastern Ontario) or WindsorEssex Economic Development Corporation (southwestern Ontario) for more details or to apply.

While at Venture13, Minister Ng saw firsthand the entrepreneurship and innovation taking place at this thriving community hub, made possible with a $1.43 million FedDev Ontario investment in the Northumberland CFDC through the Women Entrepreneurship Strategy (WES) Ecosystem Fund in 2019. With this support, the Northumberland CFDC is working to improve access to capital for underrepresented women-led businesses through the development of an automated financial lending platform with an algorithm that removes gender bias. As part of a holistic approach, successful applicants are enrolled automatically into a concurrent program offering advisory and support services, networking, and access to office space through Venture13. The CFDC is supporting the growth of 30 women-led businesses through this initiative.

Support for women-led businesses in Peterborough

Minister Ng was later joined by the Honourable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development, at the Imprinted Apparel Store in Peterborough, where the ministers highlighted an additional $380,000 in support through the Women Entrepreneurship Fund (WEF) to local women-led businesses. Funding recipients include:

  • Imprinted Apparel Store – $100,000 for this producer of custom apparel and promotional products to expand e-commerce opportunities and purchase equipment to improve operations.
  • Unlock Math Inc. – $100,000 for this online digital math course provider to implement an online platform.
  • Walton Wood Farm Corp. – $100,000 for this maker of sustainable bath and body products to upgrade the company’s planning systems and launch a new natural pet care product line.
  • Mallory Charmaine Graham (o/a Tribal Trade Co.) – $80,000 for this retailer that offers products and gifts from all nations of Turtle Island to develop and implement a digital marketing plan, undertake professional development, and hire advisory services.

Quotes

“Women entrepreneurs face unique and systemic challenges amidst the COVID-19 crisis. Our government is committed to building on the work we’ve done to break down these longstanding barriers to success as we restart and rebuild our economy. The investments made today through FedDev Ontario will support women-led businesses with critical costs as they work to re-open their businesses.”
– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade

“With reduced revenues and financial hardships of COVID-19, women-led businesses need support more than ever, as they face new challenges and expenses associated with reopening their businesses and preparing for recovery. The investments of over $4 million today will help to relieve some of the pressure as women-led businesses reopen and position themselves for a successful and stable future. We are here to support women entrepreneurs and to help these businesses come back stronger than ever.”
– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for Federal Economic Development Agency for Southern Ontario

“The Government of Canada is demonstrating its commitment to women-led SMEs today through significant investments delivered by FedDev Ontario. We value the incredible contributions women entrepreneurs make to our society and economy, and we are proud to support them as they work to strengthen their businesses and re-build our economy during this unprecedented time.”
– The Honourable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development

“We are very pleased to be working with multiple ecosystem partners across Eastern Ontario to make sure women-led businesses are fully empowered in rebuilding, reopening and reviving. These pivotal initiatives, supported by FedDev Ontario and the Government of Canada, are perfectly timed to remove barriers and add value.”
– Wendy Curtis, Executive Director, Northumberland Community Futures Development Corporation

“The WindsorEssex Economic Development Corporation recognizes the challenges that women-led businesses are facing amidst the COVID-19 crisis. We are excited about the opportunity to work with our community partners to deliver the Rebuild Reopen Revive Initiative across southwestern Ontario and help women-led SMEs at this critical time.”
– Stephen MacKenzie, President and CEO, WindsorEssex Economic Development Corporation

Quick facts

  • Northumberland Community Futures Development Corporation (CFDC) provides financing and strategy support for entrepreneurs. Delivering an array of entrepreneurial development and finance programs funded by FedDev Ontario, Northumberland CFDC also manages an investment portfolio that drives business start-up and expansion.
  • The WindsorEssex Economic Development Corporation is a not-for-profit organization with a focus to develop and execute strategies to retain, expand, attract and help new businesses start up in the Windsor-Essex region.
  • Venture13 brings together early-stage entrepreneurs with innovation partners to connect, empower and accelerate new ventures. In 2017, the Town of Cobourg, in partnership with Northumberland CFDC and with the support of FedDev Ontario, transformed a municipal building into Venture13, a thriving hub of opportunity for entrepreneurship and innovation.
  • The national $962-million Regional Relief and Recovery Fund (RRRF), is delivered through Canada’s regional development agencies (RDAs) and supports SMEs across Canada that have been unable to access existing relief measures. In southern Ontario, FedDev Ontario is delivering $213 million to provide financial relief and help businesses recover.
  • Since November 2015, FedDev Ontario has invested over $182 million in 181 projects in support of women entrepreneurship.
  • Through the Women Entrepreneurship Fund, the Government of Canada has invested a total of $30 million to more than 300 women-owned and led businesses across Canada to grow and reach new markets. In addition, the Government of Canada allocated $85 million to the WES Ecosystem Fund to strengthen capacity within the entrepreneurship ecosystem and close gaps in service for women entrepreneurs. Over 50 projects were funded through this initiative.

Associated links

Contacts

Ryan Nearing
Press Secretary, Office of the Minister of Small Business, Export Promotion and International Trade
ryan.nearing@international.gc.ca
343-551-0244

Alexander Cohen
Press Secretary, Office of the Minister of Economic Development and Official Languages
alexander.cohen@canada.ca

Media Relations
Federal Economic Development Agency for Southern Ontario
fdo.mediarel-relmedias.fdo@canada.ca

Announcement: RRRF Funding Fully Subscribed

We are currently fully subscribed for RRRF Funding.

We are currently fully subscribed for RRRF Funding, which, in just 6 short weeks, placed $1 Million on the street, investing in the remobilization of small and medium-sized businesses across Renfrew County.

If you would like to be notified of future RRRF Funding or alternative funding, please send your email address to:
INFO@RCCFDC.ORG

Even though funding through the RCCFDC Stream is now fully allocated, applications are still being accepted under the FedDev Stream. Find out more at http://www.feddevontario.gc.ca/RRRF

Get in touch with
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We would love to hear from you!