Businesses across Western Canada unable to access existing relief measures can shortly apply for funding under Western Economic Diversification Canada’s Regional Relief and Recovery Fund (RRRF).
This fund, totaling nearly $1 billion, is designed to help Canadian businesses mitigate the financial pressures brought on by COVID-19 and allow normal operations to continue. It’s also designed to help support projects by businesses, organizations and communities to prepare now for a successful recovery.
To ensure that small businesses have access to the capital they need to see them through the current challenges resulting from COVID-19, Western Economic Diversification Canada (WD) will provide eligible businesses with interest free repayable funding of up to $1,000,000 under the Regional Relief and Recovery Fund (RRRF)
Businesses must meet the following mandatory criteria:
- Have fewer than 500 full-time employees (FTEs)
- Are located in Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba)
- Are not located in an area serviced by a Community Futures (CF) office
- Are not eligible for the Community Futures Emergency Loan program
- Have applied and were declined for funding from the Canada Emergency Business Account (CEBA) or were not eligible for CEBA funding
- Were operational as of March 1, 2020
- Have suffered financially because of the COVID-19 pandemic
- Intend to continue operations in Western Canada
How to Apply
Click the links below for details on how to apply based on the desired funding level:
If your business is based in Metro Vancouver or Victoria, your application will be processed by Western Economic Diversification Canada through their website. If you are located anywhere else in the province, your application will be processed by Community Futures BC.