The Regional Relief and Recovery Fund (RRRF) is not just for
businesses anymore. Non-profit organizations have also been affected by
COVID-19, and the RRRF can offer them relief.
The Prince Rupert and District Chamber of Commerce, a
leading non-profit organization in the community, is one such non-profit that
has taken advantage of the RRRF 2.0 intake. Community Futures staff had a
conversation with Chamber Executive Director Janet Song about the Chamber’s experience
with the application for the fund and how they plan to use it to continue
helping serve businesses in the community. Janet explained how non-profit organizations
can use the RRRF and the unique benefits it brings in comparison to other
funding options. Specifically, she speaks on the flexibility the program offers
new and non-profit organizations and the relative simplicity of the application
process. These benefits allow for the funding to promote stability of
operations despite the turbulence brought about by COVID-19. Hear everything
Janet had to say in the above video.
The RRRF offers businesses and
non-profit organizations loans of up to $40,000 towards COVID-19 related
expenses. No interest is accrued until December 31st, 2022 and 25%
(up to $10,000) of the loan amount is forgivable if paid by that date. For more
information on the program visit the application portal on our website or call
us at (250) 622-2332.
Paul Minhas achieved a lifelong dream in the fall of 2019 by
opening Sunset Lounge and Grill: a family-owned business and entertainment
venue with a unique fusion-style menu and a laid-back atmosphere. Growing up in
Prince Rupert, he knew the market well and was confident that Sunset could
offer an experience unlike other restaurants in town at the time, and it
quickly became a hit in the community.
The outbreak of COVID-19 had a significant effect on the
restaurant industry. Lockdown procedures vital to preserving community health
led to the closure of restaurants and revenue losses, and Sunset Lounge was no
exception. In June, Community Futures began distributing regional Relief and
Recovery Fund (RRRF) loans, providing funding to businesses that had been
impacted in the form of $40,000 loans with no interest payable until the end of
2022. Sunset Lounge took out such a loan in order to cover certain bills and to
provide security in case of extended lockdowns. By the end of the summer, however,
a wave of community support and takeout orders resulted in the restaurant
regaining a stronger position.
Paul has big plans for the future of his restaurant.
Following a philosophy of being more than a restaurant, many innovative ideas
are coming to make Sunset Lounge a place to socialize and have fun. Currently,
there are plans for a larger bar, renovations and expansion to the second floor
of the building, and the installation of game consoles to keep customers
entertained while they wait.
Community Futures is proud to partner with Sunset Lounge and Grill. Watch the full story in the video above.
Regional Relief and Recovery Fund (RRRF) loan applications have reopened. Visit the application portal on our website or contact us at (250) 622-2332 for more information.
Art needs community, communities need art. Sarah Ridgway of Rain Forest Fabrics has made it her mission to promote and boost the artform of fabric work in the community of Prince Rupert and the North Coast.
Community Futures is proud to partner with a business that bolsters both the retail and arts sector of its community.
