Loans available for area businesses
Additional funding is available for small businesses in Haliburton County affected by the coronavirus pandemic.
On May 15, Haliburton County Development Corporation released information about the Regional Relief and Recovery Fund, which assists “main street businesses” in the county through loans. The funding is provided through the Government of Canada, part of more than $962 million available nationally, for those unable to access other relief measures and to provide more access to capital for businesses in rural areas.
proprietors, social enterprises and small- and medium-sized businesses
have been particularly impacted by the COVID-19 pandemic here in
Haliburton County,” said Patti Tallman, executive director of HCDC.
“This investment in the Regional Relief and Recovery Fund will
capitalize on our unique position and expertise to help support our
rural businesses and entrepreneurs during these challenging times. As
part of the Haliburton Highlands we look forward to delivering this
critical program to our local community and working in conjunction with
our many strategic partners to provide the necessary services to assist
businesses in their recovery efforts.”
Access to loans through the fund was made available in southern Ontario through FedDev Ontario and Community Futures Corporations, of which HCDC is one.
Interest-free loans are available to support operating costs of small and medium enterprises that have been affected by the COVID-19 pandemic. HCDC said in a press release that it would be focusing on helping “main street” businesses with loans of up to $40,000 and gave examples of “retail shops, restaurants, corner stores, and businesses of strategic importance to our communities.”
For information on the application process and eligibility, go to www.haliburtoncdc.ca.
“Through RRRF we are pleased to be able to provide additional critical support to those small businesses adversely affected by COVID-19. Through our partnership with the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) we are able to provide much needed capital to those businesses who are unable to access current government subsidies,” Peter Smith, board chair of HCDC, said.