Trenval is offering businesses some support as they try to come out on the other side of COVID-19.
The federal government announced the Regional Relief and Recovery Fund in May. It was introduced to support small businesses in rural communities, negatively impacted by COVID-19.
Trenval Business Development Corporation received $994,888 at that time, and it was disbursed to support 32 local small businesses in the Quinte Region.
The Government of Canada recently announced an extension to this program, providing another $1.2 million to Trenval.
The Regional Relief and Recovery Fund provides interest-free repayable loans to help small and medium sized businesses with fixed operating costs, where business revenues have been affected by the pandemic.
If the loan is paid in full by December 31, 2022, 25% of the loan will be forgiven. Full details of the eligibility criteria can be found at Trenval’s website ( www.trenval.ca) .
Applications are now being received and will be addressed on a first come, first served basis.
