Many thanks to Community Futures and its partnership with government to provide the latest in bridge loans and loan assistance. The Regional Relief and Recovery Fund is going to be offered to as many businesses and non-profits as possible throughout our region.
“This is a fund for non-profits and all the other businesses that may have fallen through the cracks and not qualified for the federal government’s wage subsidy or Canada Emergency Business Account,” says Michele Hill, chair of the board of directors for Community Futures North Okanagan, which will be administering the fund for Western Economic Diversification Canada. CFNO is now accepting applications.
The federal fund provides loans of up to $40,000 to non-profits and small and medium-sized businesses located in non-metropolitan areas that were negatively impacted by COVID-19, and have costs that have not been covered by other COVID-19 supports. Expenses incurred during this period that are eligible include lease payments, rent, salaries and benefits, property taxes, utilities, bank charges and interest, office supplies, vehicle supplies and more.