|Strathmore – Local businesses and non-profits continue to be seriously impacted by the COVID-19 pandemic. In response, Community Futures Wild Rose will be offering additional $40,000 small business loans as part of the Government of Canada’s Regional Relief and Recovery Fund. The RRRF loan zero-interest until January 2023 and intended to help rural small and medium-sized businesses cover ongoing costs and help them resume normal business operations after COVID-19.
“Every day, we see small businesses continue to struggle with reduced revenues, increased costs, and uncertainty because of the COVID-19 pandemic,” said Chantale Hache, Executive Director of Community Futures Wild Rose. “This extension will ensure more rural SMEs have access to relief and recovery funding, and Community Futures can continue to assist as many local businesses as possible during these difficult times.”
Since May 2020, the Regional Relief and Recovery Fund through Community Futures Wild Rose has:
- Approved 42 applications
- Dispersed $1.309 million in loans
- Helped maintain 113 jobs
The additional funding is part of an initial $18.9 million allocated to the Community Futures Network of Alberta, through the Government of Canada’s COVID-19 Economic Response Plan, and is targeted towards supporting rural and remote SMEs in Alberta that do not qualify for other federal business support programs, such as the Canada Emergency Business Account (CEBA) or Business Credit Availability Program (BCAP).
For more information visit: www.wildrose.albertacf.com
Media contact: RRRF Inquiries :
Chantale Hache Christopher Steeves
Executive Director Business Analyst
403.934.8888 ext. 1 403.934.8888 ext. 2
About Community Futures in Alberta
Alberta’s 27 Community Futures organizations are independent, locally run and guided by volunteer boards. Each Community Futures office provides flexible and affordable small business loans, business coaching/training services and business development tools for people wanting to start, expand, franchise or sell a rural business. Community Futures is funded by the Government of Canada through Western Economic Diversification Canada and has been supporting rural entrepreneurs for over 30 years.