Venture Norfolk has launched a Regional Relief and Recovery Fund to help support the county’s economy during the COVID-19 pandemic.
Local businesses that are unable to access the federal relief measures can apply to the fund, which will provide interest-free loans up to $40,000. If the loan is repaid by Dec. 31, 2022, 25 per cent will be forgiven.
Venture Norfolk said in a news release the fund will focus on helping “main street” businesses, such as retail shops, restaurants, corner stores and “businesses of strategic importance to our communities.
“Small businesses are at the heart of our economy and many are vital to this community,” said the news release sent out by Venture Norfolk’s Kristine Carey. “The COVID-19 pandemic has resulted in uncertainty and anxiety for businesses and their employees.”
Businesses in need of loans in excess of $40,000, and which meet eligibility criteria outlined on FedDev Ontario’s website, can apply to FedDev Ontario.
More information on the fund is at: www.venturenorfolk.ca/regional-relief-and-recovery-fund/.