Regional Relief and Recovery Fund: COVID-19
Get financial planning advice to deal with the impacts of COVID-19
Small business owners with pressing financial needs can call 1-866-989-1080 (toll-free) seven days a week, from 8 a.m. to 8 p.m. (ET).
Read the news release for more details.
The COVID-19 pandemic has already had significant impacts on businesses, workers and communities across the country.
The Government of Canada recognizes this and will be there to support you during and after the crisis. That's why we have created the Regional Relief and Recovery Fund (RRRF).
Nearly $1B in support to affected businesses and communities
The Fund will help to:
- mitigate the financial pressure experienced by businesses and organizations to allow them to continue their operations, including paying their employees;
- support projects by businesses, organizations and communities to prepare now for a successful recovery.
This initiative is implemented by the six regional development agencies, which are familiar with their regions' economic realities and are often the first point of contact for people at the local level.
This initiative includes two components:
- $675 million to support regional economies, businesses, organizations and communities in regions all across Canada;
- $287 million to support the national network of Community Futures Development Corporations, which will specifically target small businesses and rural communities across the country.
Apply to the RRRF through your Regional Development Agency (RDA):
- Atlantic Canada Opportunities Agency (ACOA)
- Canada Economic Development for Quebec Regions (CEDQ)
- Federal Economic Development Agency for Southern Ontario (FedDev)
- Federal Economic Development Initiative in Northern Ontario (FedNor)
- Western Economic Diversification Canada (WD)
- Canadian Northern Economic Development Agency (CanNor)
Other measures to help you
RDAs have also adjusted certain criteria for their regular programs in response to the exceptional circumstances that businesses are facing.
- For example, since April 1, businesses have been able to defer their payments for current contribution agreements with their regional development agency for three months.
CanNor's Northern Business Relief Fund (NBRF) provides short-term support for ongoing operational costs to small- and medium-sized territorial businesses impacted by economic disruptions due to COVID-19. Learn how to apply.
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