CORNWALL, Ontario – The Cornwall and Counties Community Futures Development Corporation (CFDC) is reaching out to local businesses who are in need of relief funding due to the COVID-19 pandemic.
The Regional Relief and Recovery Fund, a FedDev Ontario program administered by the CFDC are for businesses who require additional support beyond what is available.
Businesses without separated business bank accounts are eligible to apply for zero per cent loans of up to $40,000 with 25 per cent of the loan potentially forgivable.
The CFDC states that it is focusing on supporting main street businesses in Cornwall, SD&G, and Akwesasne who are facing issues related to inventory, purchasing of Personal Protective Equipment (PPE) and working capital.
In June, Lesley Thompson, Executive Director of the Cornwall and Counties CFDC explained that between the Regional Relief and Recovery Fund and their own Emergency Loan program, they were seeing an unprecedented demand for support in the area from the business community.
“The unprecedented demand that we are witnessing is further evidence that our community needs more support,” said Thompson at the time. “At the current rate, we will process as many loans as we do in an entire year in just about two weeks, to this end the entire CFDC Team and Board are all really stepping up to the plate. Unfortunately, our funds are limited; we will continue to encourage the use of the Cornwall & The Counties CFDC’s to deliver much needed injection of cash to hold small businesses over through these incredibly challenging times.”
For more information and to apply, please visit the CFDC website.