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.
