Do you know there is Covid 19 funding dollars available through your local Community Futures office??
Did you find the CEBA funding application frustrating?
Regional Relief Recovery Fund 2 (RRRF2)
Includes a local representative to help you through the application process!!
Even if you applied and were denied or accepted for CEBA you can also apply for RRRF2
interest free loans of up to $40,000 (with condition for partial forgiveness)
The loan will be based on fixed operating costs, up to $40,000.
0% interest and no principal payments until January 1, 2023.
No payments required until January 1, 2023 but applicant can opt to make payments anytime between January 1, 2021 and December 31, 2022.
Up to 25% (maximum $10,000) forgiveness is available, provided that 75% (up to $30,000) is paid back by December 31, 2022.
If 75% of the loan is not repaid by December 31, 2022, the balance owing will be converted to a 3-year loan at 5% interest with a fixed repayment schedule, beginning January 1, 2023.
The full balance of the loan must be repaid by no later than December 31, 2025.
If you are interested in knowing more, please contact joanne.hughes@ofa.on.ca or 226-230-2359 to register for one of the two FREE virtual information sessions:
Wednesday, February 3rd from 12:30pm-1:30pm
OR