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Relief fund announced for local economy

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Venture Norfolk has launched a Regional Relief and Recovery Fund to help support the county’s economy during the COVID-19 pandemic.

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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.

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“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/.

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