Community Futures stream in Northern Ontario.
FedNor is partnering with Northern Ontario’s 24 Community Futures Development Corporations (CFDCs) to deliver $25.5 million in RRRF support directly to small businesses and entrepreneurs in rural areas. This includes sole proprietorships or partnerships not covered under the Regional Economy stream. Each CFDC is managing its own application and selection process in accordance with the parameters set out in the RRRF and will determine ultimate funding recipients in accordance with its own policies and procedures.
Our local Community Futures Development Corporation is LAMBAC. They have advised me that the program is announced, but not launched fully. The criteria will be that business applicants will have to show proof that they have been turned down by a bank and other programs and are in good standing since March 1, 2020. The business will also have to prove that they are negatively affected by COVID-19.
The contact at LAMBAC for the program is Carolyn Campbell, Loans and Business Development Officer 705-282-3215 ext. 202 or email firstname.lastname@example.org