REGIONAL AID AND RECOVERY FUND (FARR)
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The Lanaudière SADCs made the difference and obtained 1.06 More M$ to help small businesses
St-Alphonse-Rodriguez, November 5, 2020 - In a virtual flash meeting with Élisabeth Brière, Parliamentary Secretary to the Minister of Economic Development and Official Languages, the Lanaudière CFDCs report on the first phase of the FARR-PDC program.
Set up by the Government of Canada in collaboration with the Réseau des SADC and CAE, the FARR-PDC helped small businesses in the regions affected by COVID-19 that were not eligible for other government programs. In Lanaudière, from 1er From June 1 to August 31, 3,143,413 $ were rapidly paid out to 143 companies and 11 collective projects.
New investments
With the current situation evolving rapidly, and in view of this effective delivery of the FARR by the CFDCs, Élisabeth Brière today announced additional Government of Canada investments of 1.06 M$ to the region's CFDCs. Specifically, the Matawinie, D'autray-Joliette and Achigan-Montcalm CFDCs will each be able to count on 352,039 $ from Canada Economic Development for Quebec Regions (CED). The additional financial support granted under FARR 2.0 will be of particular help to those companies most affected by the current crisis.
Our volunteer professionals and administrators worked with agility to quickly help entrepreneurs and our communities cope with the consequences of COVID-19," said Chantal Bruneau, president of SADC Matawinie. I'm very pleased with this additional support from the federal government, which will enable us to continue our efforts. This additional support is necessary, and I'd like to thank the Honourable Mélanie Joly and Ms. Brière for their attentiveness. I would also like to thank Canada Economic Development for Quebec Regions for the rapid implementation of this effective measure. We're all working together to keep entrepreneurs confident," added Ms. Bruneau.
"Thanks to the SADC de D'Autray-Joliette," says Guy Bénard, co-owner with Nancy Perreault of Bistro La Belle excuse in Joliette, "we've been able to update our website with three new features. The first is to make our paper menu available in digital format inside our restaurant, thus limiting the number of times we have to handle the menu ourselves. The second is to enable orders to be taken online, with a direct link to the restaurant's order center and accounting department. The overall effect is to reduce physical handling, which improves our sanitary efforts and reduces the risk of errors in the restaurant's orders and accounting."
"With this new investment, we're helping to equip small businesses to bounce back from the economic crisis and become even more competitive. Thanks to financial assistance from the Government of Canada, CFDCs and BDCs will be able to continue supporting entrepreneurs and merchants in their regions. This announcement is proof of our proactive approach to maintaining and creating good jobs. This is our commitment to the regions, to businesses, to organizations and to workers. We've been there since the beginning of the pandemic, and we'll be there to support you in the future.
The Honourable Mélanie Joly, MNA for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED
These regional investments follow on from the Honourable Mélanie Joly's announcement on October 2 of an additional 600 M$ for Canada as a whole, including 23.3 M$ for Quebec's CFDCs and BDCs.
FARR RESULTS FOR THE WHOLE OF QUEBEC from 1er June to August 31, 2020
- 71.3 M$ invested, including 65 M$ in loans and 6.3 M$ for technical assistance and local economic development projects;
- 2,106 companies received funding from the FARR;
- 1,346 technical assistance interventions were carried out, such as expert support in technology integration, marketing or financial projections, etc..;
- More than 180 economic development projects have resulted in local purchasing campaigns, websites promoting products and services offered to consumers in their region, and training and information events for entrepreneurs;
- 52 % of businesses financed were owned by women entrepreneurs;
- 91 % of the companies affected had received no other assistance from the various measures put in place by the federal government;
- The three main sectors of activity for the companies financed are local services, tourism and retail.