Regional Relief and Recovery Fund for Northern and Southern Ontario

UPDATE: The Regional Relief and Recovery Fund (RRRF) has been extended and expanded in southern Ontario.

Key new features for RRRF liquidity support:

  • RRRF funding may support operating costs incurred during the first year of the pandemic, up to a maximum of $1 million.
  • Not-for-profit organizations that provide support services to businesses are now eligible to apply for the RRRF for non-repayable loans.

Not all Canadian businesses have been able to meet the eligibility criteria to receive funding through the various federal and provincial COVID-19 support programs, which is why the Regional Relief and Recovery Fund (RRRF) was introduced by FedNor & FedDev Ontario to provide repayable interest-free loans that help support the fixed operating costs of these businesses. Find out if your business is eligible to receive these interest-free loans.

FedNor RRRF Northern Ontario Program Breakdown

  • Amount:
    • Funding Option 1: Up to $40K conditional repayable 0% loan;
    • Funding Option 2: Up to $250K unconditionally repayable 0% loan;
    • Funding option 3: Grant of up to $250K for not-for-profits
  • Projects: Help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.
  • Timeline: Ongoing intake. Can claim costs retroactively to March 15, 2020 over a six month period.
  • Eligibility: SMEs (1-499 employees) or Not-for profits located in Northern Ontario can apply.

FedDev Ontario RRRF Southern Ontario Program Breakdown

  • Amount:
    • Funding Option 1: Up to $40K conditional repayable 0% loan;
    • Funding Option 2: Up to $1M unconditionally repayable 0% loan
  • Projects: Help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.
  • Timeline: Ongoing intake. The timeframe to consider costs is March 15, 2020, to March 31, 2021.
  • Eligibility: SME (1-499 employees), co-operative or an Indigenous business located in Southern Ontario and is facing funding pressures with fixed operating costs.

Top Regional Relief and Recovery Fund and COVID-19 Resources

Regional Relief & Recovery Fund (RRRF) – COVID-19 Interest-Free Loans for SMEs: Our blog going over the Regional Relief & Recovery Fund (RRRF) providing interest-free loans to support Ontario SMEs ineligible for other COVID-19 funding programs.

COVID-19 Support Programs: The Canadian government’s responsive actions evolve each day, and Mentor Works is watching closely for business funding stimulus in response to COVID-19.

Canadian Government Funding for Small Business

Revised: October 28, 2020