Interest-Free Federal Operational Loan – RRRF

The Regional Relief and Recovery Fund (RRRF) is an interest-free loan for businesses and organizations impacted by the pandemic. The main goal of this program is to support operational funding needs and cash flow of businesses.

Eligibility Criteria:

  • An incorporated business, co-operative, partnership or an Indigenous-owned business with 1 to 499 full-time employees;
  • Located in Ontario;
  • Facing funding pressures with fixed operating costs, as a result of the pandemic;
  • Have applied to other Government of Canada relief measures for which they are eligible, as outlined in the program guidelines;
  • Were operational prior to March 15, 2020;
  • Are financially viable;
  • Plan to continue to operate or resume operations; and
  • Have an active business chequing/operating account.

Eligibility Cost:

Liquidity support for fixed operating costs to maintain regular operations where business revenues or cash flows have been affected by the COVID-19 pandemic. Such as:

  • Capital lease payments for existing equipment and machinery;
  • Salaries and benefits*(only if not eligible or supported by other available federal COVID-19 relief measures);
  • Property taxes;
  • Utilities;
  • Bank charges and interest payments;
  • Professional fees;
  • Monthly insurance payments;
  • Rent;
  • Personal protective equipment / safety measures;
  • Cleaning expenses; and
  • One-time stabilization expenditures (including sanitary, distancing measures and/or one-off adaptation costs related to operating in the context of COVID-19).

Amount:

  • Funding of $60,000 or less: Conditionally repayable contribution (interest-free loan)
  • Funding up to $1,000,000: Unconditionally repayable contribution (interest-free loan)

Do you qualify for RRRF or other government funding programs and would like to submit your application ASAP?

Fill out Eligibility Check form at http://www.fgwinc.ca/eligibility to get help.