SADC de la région de Coaticook
*****Important! Read carefully******
REGIONAL RELIEF AND RECOVERY
FUND (RRRF - CFP)
(loan and technical assistance)
This program ends on July 15, 2020. However, we will accept applications duly completed until July 13.
As a complement to Canada's COVID-19 Economic Response Plan,
the Government of Canada has established a Regional Relief and Recovery Fund (RRRF), an initiative with a $211 million envelope for Quebec.
Its purpose is to provide emergency financial assistance to businesses that are not eligible for or have been refused assistance under other federal programs, to ensure that they can remain operational.
The Coaticook SADC is receiving funding requests under the second component of the program, for businesses headquartered within the Coaticook MRC.
****Important!!! If you have benefitted from one of the following programs, you are not eligible for the RRRF program:
- Canadian Emergency Business Account ($40,000 maximum, 25% non-reimbursable under certain conditions)
- Emergency Support Fund for Cultural, Heritage and Sport Organizations
- Relief measures for Indigenous businesses
- NRC IRAP Innovation Assistance Program
- Regional Relief and Recovery Fund by Canada Economic Development profile 1.
However, eligibility for technical assistance is not connected to having obtained other financial assistance from the federal government. All businesses in the Coaticook MRC can apply.
Please note that we ONLY serve businesses headquartered within the Coaticook MRC (consult the map as needed).
To find your community’s SADC or CAE, consult the SADC and CAE network website.
The authorized beneficiaries are companies, cooperatives and non-profit organizations (NPOs)
- Retail stores and local services
- Social economy enterprises
- Agro and fishing industry (picking and harvesting)
- Tourism for projects amounting to $40k or less
- Companies with a turnover of less than $250k (all sectors)
- Self-employed persons
- Start-ups other than in manufacturing and value-added services
- Companies that are already clients of a SADC or a CAE
- Loan to meet working capital requirements: $5,000 to $40,000
- The need for assistance must relate only to immediate (ad hoc) financial pressure on liquidity (working capital for SMEs or cash requirement for NPOs) and must be a consequence of COVID-19
- The need for assistance must be for a maximum of 6 months (period from April 1 to December 31, 2020)
- The aid may not be used for needs associated with preparations for the recovery (e.g., fixed assets and equipment)
- Part of the loan (25%) is non-reimbursable if the loan is repaid in full before December 31, 2022
- Capital moratorium and interest leave up to December 31, 2022.
*****Carefully read the instructions below to complete your funding request
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Send us the technical assistance request form at email@example.com..
*****Each document below must be attached to the request
- Last year’s and most recent interim financial statements
- Copy of specimen cheque, bearing the word “void”, for direct deposit
- Bank statements for the last two months
If you have any questions about the Regional Relief and Recovery Fund:
Marina Ouédraogo, Monitoring Agent
Wahib Bendhiab, Business Advisor and Financial Analyst
The projects carried out under this program must be connected to the COVID-19 pandemic.
Local economic development projects related to the COVID-19 crisis
- Activities to raise awareness of or stimulate interest in specific problems or issues
- Outreach, community consultation or networking activities intended to bring together different stakeholders to collaborate on specific problems or issues
- Activities to design local initiatives or strategic projects for the development of communities covered by SADCs and CAEs
- Activities leading to the coordination of local economic development strategies to implement a realistic action plan, in collaboration with other stakeholders from communities covered by SADCs and CAEs
- Consulting and support from specific organizations
Whether an applicant has already benefitted from other federal aid is not considered in determining eligibility.
To apply, please fill out the request form.
This form only asks for general information about the business, a summary of how it has been impacted by the crisis, and the amount of assistance requested (sections 1,3,4,5,6).
Send us the technical assistance request form at firstname.lastname@example.org.