Welcome to the Venture Norfolk Regional Relief and Recovery Fund Application page. Here, you will find a link to our Regional Relief and Recovery Fund (RRRF), as well as answers to frequently asked questions.
Frequently Asked Questions
- What is this?
- Loans of up to $40,000 at zero percent interest. If the loans are repaid in full prior to December 31, 2022, 25% of the initial loan will be forgiven. Any remaining balance will be converted to a 3 year term loan at up to 5% annual interest rate. The full balance must be paid no later than December 31, 2025.
- Example 1: A loan of $40,000 is issued to a small business. $30,000 is repaid on or before December 31, 2022. The remaining $10,000 is forgiven.
- Example 2: A loan of $10,000 is issued to a small business. None of it has been repaid on or before December 31, 2022. The $10,000 is now a 3 year term loan.
- Example 3: A loan of $20,000 is issued to a small business. $10,000 is repaid on or before December 31, 2022. The remaining $10,000 is now a 3 year term loan
- Who is eligible?
- Small or medium size businesses that have been directly and negatively impacted by the COVID-19 pandemic.
- Established prior to March 1, 2020
- Have exhausted other sources of federal relief supports and have found themselves ineligible, rejected, or require funding in excess of what has been received.
- Priority is given to those businesses that are of strategic importance to Norfolk County
- While a business may be eligible to receive RRRF funding through both FedDev Ontario and Venture Norfolk, they can only avail themselves or one or the other
- How do I apply?
- Click here to download the application form. After that, return the form and supporting documents to email@example.com
- We will review your submission and confirm that all documents required have been submitted within 2 business days
- Only complete applications will be considered
- You will be notified if your application is missing any information or supporting documents