Regional Relief and Recovery Fund (RRRF)
What is it?
A $962M relief fund to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access existing support measures.
How does it work?
Eligible applicants are to apply for the fund through their Regional Development Agency (RDA). There are six RDAs across Canada. Depending on your RDA, eligibility requirements may differ. For more information on Canada’s six RDAs, click here.
Who is eligible?
Eligibility requirements differ depending on your RDA. Businesses in southern Ontario should apply through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
Applicants in southern Ontario can be split into two groups: small and medium-sized enterprises (SMEs) and rural businesses:
For SMEs, eligible applicants must:
- Be a Canadian or provincially incorporated business, co-operative or an Indigenous-owned business located in southern Ontario with 1 to 499 full-time equivalent employees;
- Be facing funding pressures with fixed operating costs as a result of COVID-19;
- Have been a viable business before the COVID-19 pandemic and plan to continue to operate their business or resume operations;
- Have already applied to other Government of Canada emergency credit relief measures for which they are eligible, as outlined in the program guidelines.
For rural businesses, eligible applicants must apply through Ontario’s Community Futures Development Corporations and must meet the following criteria:
- Established prior to March 1, 2020;
- Impacted adversely by the COVID-19 pandemic;
- Viable and not experiencing other financial difficulties prior to March 1, 2020; and
- Have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.
For more information regarding next steps and how to apply, visit: http://www.feddevontario.gc.ca/eic/site/723.nsf/eng/h_02581.html?OpenDocument