Regional Relief and Recovery Fund – Community Futures Stream
The Regional Relief and Recovery Fund
This $962-million Government of Canada fund is to support small and medium size businesses that have been negatively impacted by the COVID-19 pandemic. These businesses can now apply for loans of up to $40,000 through RRRF.
As the financing terms of RRRF and Canada Emergency Business Account (CEBA) are similar, rural businesses can choose which program to apply for funding. Applicants can only apply to ONE of these federal programs.
How the RRRF is being administered in Western Canada
Western Economic Diversification Canada (WD) is collaborating with Community Futures Pan West to deliver the Fund in Western Canada.
Community Futures offices are supporting rural businesses requesting $40,000 or less. These businesses should apply through their local Community Futures office if they are eligible.
If you are a rural business requesting more than $40,000 you should apply through Western Economic Diversification Canada.
How to apply through the Community Futures Stream
Community Futures has 90 offices supporting rural businesses in British Columbia, Alberta, Saskatchewan and Manitoba. Applicants from rural communities are asked to apply through the website of their local CF organization, or their provincial Community Futures website.
- Find and contact your local CF office in British Columbia
- Find and contact your local CF office in Alberta
- Find and contact your local CF office in Saskatchewan
- Find and contact your local CF office in Manitoba
- Small and Medium-Sized Enterprises (SMEs) located in non-metropolitan regions (all areas served by Community Futures organizations) in Western Canada.
- SMEs must attest they have not received duplicative supports through other federal or provincial government COVID-19 support programming such as the Canada Emergency Business Account.
- The small business must have been viable and not experiencing any liquidity or other financial difficulties as of March 1, 2020.
- The small business must have experienced a material adverse effect on business operations on or after March 1, 2020 as a result of the COVID-19 pandemic.
- Business established before March 1, 2020.
- Be a sole proprietorship, partnership, corporation, social enterprise, or other similar organization.
- Lease payments for existing equipment and machinery;
- Salaries and benefits (will only be considered for support if the business has not recieved support under the Canada Emergency Wage Subsidy (CEWS);
- Property taxes;
- Bank charges and interest payments;
- Office supplies;
- Vehicle operating expenses;
- Professional fees;
- Monthly insurance payments;
- Rent (applicants are expected to pursue with their landlord access to the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses); and
- Other fixed operating costs applicable to the applicant.
- No interest accrual or principal payments through December 31, 2022
- If 75% of loan is repaid by December 31, 2022, the remainder of the loan is forgiven
- Blended principal and interest payments beginning January 1, 2023 and loans must be repaid by December 31, 2025
- No prepayment penalties
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