Local businesses who could not access existing federal COVID-19 relief have another option

New funding will focus on assisting "main street businesses"

Another shot at cash for Simcoe County businesses that were unable to access existing federal COVID-19 relief measures. They can now apply for funding under a new initiative from Ottawa called the Regional Relief and Recovery Fund (RRRF).

Through the County of Simcoe’s Phase II COVID-19 Business Impact Survey, 56 per cent of respondents indicated that Financial Grants/Cash Flow/ Emergency Funds are what they need the most, at this uncertain time, from government.

“The COVID-19 pandemic has been difficult and challenging for our businesses, residents and communities. At the County level we are investigating options to support our local businesses and their employees and we’re pleased that our local businesses impacted by the pandemic have another funding stream available to them to help alleviate pressures and financial burdens. Government at all levels are here to support our businesses and communities to ensure the best economic, health and social recovery possible.” said George Cornell, County of Simcoe Warden.

Among the millions of dollars released by the feds, Simcoe County will get a share of $252 million set aside for southern Ontario. The RRRF will support Simcoe County small and medium sized businesses that do not qualify for or have not been able to receive funding from current relief measures announced by the Liberal government.

Funding will be administered by local Community Futures Development Corporations with a focus on assisting “main street” businesses, such as restaurants, retail shops, corner stores, and businesses of strategic importance to communities, with interest-free loans of up to $40,000. Support is available to businesses operated by sole-proprietors, corporations and partnerships.

The County of Simcoe’s Economic Development website has more information on eligibility and the office nearest you.

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