PRESS RELEASE
For immediate release
REGIONAL AID AND RECOVERY FUND (FARR)
6.3 M$ NOW AVAILABLE FOR SMES IN THE LANAUDIÈRE AND LAURENTIANS REGIONS
Saint-Alphonse-Rodriguez, the June 10, 2020 - The COVID-19 pandemic is affecting many companies. More than ever, entrepreneurs need support to get through this extremely difficult period and plan their recovery. SADC d'Achigan-Montcalm, d'Autray-Joliette, de Matawinie, d'Antoine-Labelle, des Laurentides and CAE Rive-Nord, receive 6.3 M$ Canada Economic Development for the Regions of Quebec (CED) under the Regional Recovery and Assistance Fund (RRAG). This financial contribution will make it possible to help businesses that have been unable, until now, to benefit from federal government support. Each CFDC and BDC will receive 1,059,701 $.
MORE THAN FINANCING
Assistance from CFDCs and BDCs can take the form of working capital of up to 40,000 $, or a non-repayable financial contribution for technical assistance needs such as specialized expertise in areas of current importance to our customers, such as adapting to health measures, developing a financial continuity plan to prepare for the future, or adopting e-commerce technologies.
CFDCs or BDCs can also carry out or collaborate on local economic development initiatives such as business training, local purchasing promotion, downtown revitalization operations and advertising campaigns.
Entrepreneurs on the Matawinie MRC territory are invited to apply now to SADC Matawinie. To check your eligibility for the FARR : www.matawinie.qc.ca.
QUOTE
"To deliver the Regional Recovery and Assistance Fund, Canada Economic Development for Quebec Regions can count on the collaboration of CFDCs and BDCs, whose local services, expertise and dynamism will help entrepreneurs meet the challenges of COVID-19. Let's roll up our sleeves and get our regions' economies moving again!
The Honourable Mélanie Joly, MNA for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
FACTS IN BRIEF
- The FARR has a total envelope of 211 M$ in Quebec and is implemented in collaboration with CED, of which 71.3 M$ is dedicated to the 67 CFDCs and BDCs.
- The 67 CFDCs (Community Futures Development Corporations) and BDCs (Business Development Centres) have been working for nearly 40 years on the economic development of their communities. Visit Réseau des SADC et CAE has 1,400 professionals and volunteers who support and finance over 10,000 entrepreneurs and local economic development projects every year. CFDCs and CBDCs provide entrepreneurs with personalized, sustained support and flexible financing products tailored to their needs.
- CED is a key federal partner in regional economic development in Quebec. Through the Community Futures ProgramCED financially supports the Réseau des SADC et CAE, the 57 SADCs located in designated rural regions and the 10 CAEs located in peri-urban areas.
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For further information, please contact
Marie-Pier Branchaud
Communications and Project Management Officer
(450) 883-0717 ext. 222