Through funding provided by FedDev Ontario, 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 Enterprise Brant

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

  • Eligible applicants must 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.

Applications can be submitted for:

  • Loans of up to $40,000 to help address working capital needs.

Next steps:

  • Contact Enterprise Brant by telephone or email.
  • Complete the application through the link below

 

Loan Terms:

  • Loan amounts from $2,500 To $40,000
  • Fixed interest rate of 0% to December 31st, 2022
  • No payments required until December 31st, 2022
  • Fixed interest rate of 5% from January 1st, 2023 to December 31st, 2025
  • Repayable anytime in part or in full without penalty
  • Must be repaid by December 31st, 2025
  • 25% can be forgiven provided the full loan is repaid by December 31st, 2022

Eligible applicants must:

  • Be a Canadian or provincially incorporated business, co-operative or an Indigenous-owned business, sole proprietor, or partnership located in southern Ontario with 1 to 499 full-time equivalent employees;
  • Be facing funding pressures with fixed operating costs as a result of COVID-19;
  • Have been a viable business before the COVID-19 pandemic and plan to continue to operate their business or resume operations.
  • Have already applied to other Government of Canada emergency credit relief measures for which they are eligible, as outlined in the program guidelines.

Please note: Applicants will not receive RRRF assistance from both Enterprise Brant 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.

 811 total views