MUSKOKA, ON-The new Muskoka Futures’ Recovery Fund is ready to support local businesses.
Supported by the Federal Government under the Regional Relief and Recovery Fund (RRRF), this fund will provide support to smaller businesses that have not been able to apply for previous Government funding programs.
Muskoka Futures’ Executive Director David Brushey said that the organization has been supporting local businesses for the past 30 years.
“We have been fielding calls and supporting businesses as best we can since the beginning of this situation, including having implemented a number of changes to support our current loan clients early in this economic shutdown,” Brushey said. “We are pleased to have received this further funding from the Federal Government to be able to address recovery in Muskoka for the businesses that contribute to our community and who have struggled to fit into currently announced funding programs.”
With this new fund, only businesses who were not eligible to apply for support programs like the Canada Emergency Business Account and Wage Subsidy Program will be able to apply for a loan of up to $40,000 to support operating costs.
These loans will be established at a 0 percent interest, and no payments will be required until December 31st, 2022.
“While we have seen great examples of the resiliency and creativity of local businesses over the last few months, we also understand that many businesses have struggled and feel overwhelmed by the current situation,” Brushey added. “We understand how challenging this has been for them, and we have been working to make the application process for the Recovery Fund as seamless and efficient as possible.”
If you are interested in applying for the loan, visit the Muskoka Futures’ site here or send an email to [email protected].