A $1.5 billion Government of Canada fund to help Canadian businesses mitigate the financial pressures brought on by COVID-19.
Latest Update - July 1st, 2021: This program is now closed to new applications.
What is the Regional Relief and Recovery Fund (RRRF)?
The Regional Relief and Recovery Fund (RRRF), totalling over $1.5 billion, is designed to help Canadian businesses mitigate the financial pressures brought on by COVID-19 and allow normal operations to continue. It provides funding to Canadian SMEs who do not qualify for the Canada Emergency Business Account (CEBA).
Eligible businesses can receive interest-free, repayable funding of up to $1,000,000. There are four categories of eligibility: rural businesses up to $40,000; woman-owned or woman-led businesses up to $40,000; all other small- and medium-sized businesses up to $60,000; funding over $40,000.
How to Apply
In B.C., the RRRF is available through Western Economic Diversification Canada
The RRRF will continue to accept and assess applications until June 30th, 2021, or until the funding runs out, whichever comes first. By the end of July, 2020, over $95m in relief and recovery funds had been distributed across Western Canada to more than 1,760 businesses.
How to apply for the expansion of up to $20,000.
Who is Eligible?
Generally the RRRF is open to businesses with fewer than 500 full-time employees, that are located in Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba), and have suffered financially because of the COVID-19 pandemic.
There are different eligibility criteria for different types of businesses and for funding of up to $40,000 and over $40,000:
- Rural businesses
- Women-owned or women-led businesses
- Other small- and medium-sized businesses
- Funding over $60,000
You can also use the RRRF Eligibility Assistant.
Are You a Women-Run Business?
If you are an eligible women-run business, the Government of Canada has made $8.3m in funding available through the RRRF to support the Women’s Enterprise Initiative (WEI) organizations across Western Canada.
Loans of up to $60,000 are available for sole proprietorships, partnerships, and corporations. Learn more and apply.
- 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
The RRRF will continue to accept and assess applications until June 30th, 2021, or until the funding runs out, whichever comes first.
- Regional Relief and Recovery Fund
- Funding up to $40,000, for rural businesses
- Funding up to $40,000, for women-owned or women-led businesses
- Funding up to $60,000, for all other small- and medium-sized businesses
- How to apply for the expansion of up to $20,000
- Funding over $40,000
- Find and contact your local CF office in British Columbia
- Community Futures Panwest (Further Application Details)
Frequently Asked Questions About RRRF
Is the RRRF loan considered taxable income?
The Canada Revenue Agency (CRA) requires that RRRF funding be recorded as revenue on a business’ corporate tax return. For more information, RRRF applicants may contact the CRA through their free liaison service.
What happens to the balance after the end of 2022?
The remaining balance will become a 3-year loan with monthly payments. Full balance must be paid no later than December 31st 2025. Learn more.
Can sole proprietors apply for the RRRF?
Businesses that are sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll may be eligible for one of these two streams:
- RRRF – Community Futures Stream for small rural businesses
- RRRF- WEI Stream for women-owned or women-led small businesses in both urban and rural areas