Picture5 - Regional Relief and Recovery Fund

The application period for the Regional Relief and Recovery Fund is now closed.

The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans, with the option for a forgivable portion) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.  

In southern Ontario, funding is available through two separate application streams, as follows:

  1. Apply directly to FedDev Ontario APPLICATIONS ARE NOW CLOSED
  2. Apply to your local CFDC (i.e. Orillia Area CDC) – APPLICATIONS ARE NOW CLOSED

Funding available through FedDev Ontario

FedDev Ontario is delivering $2 billion in funding support to SMEs impacted by COVID-19 that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures.

Should you be interested in a loan of $60,000 or more and meet the following eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.

Eligible applicants must:

  • Be a Canadian or provincially incorporated business, co-operative or an Indigenous-owned business located in southern Ontario with 1 to 499 full-time equivalent employees;
  • Be facing funding pressures with fixed operating costs as a result of COVID-19;
  • Have been a viable business before the COVID-19 pandemic and plan to continue to operate their business or resume operations
  • Have already applied to other Government of Canada emergency credit relief measures for which they are eligible, as outlined in the program guidelines

For the RRRF funding provided directly by FedDev Ontario, priority may be given to SMEs that fall within the manufacturing, technology, tourism and other sectors key to the region, that are major employers in small communities, or that support the government’s commitment to underrepresented groups.

For more information, please visit the FedDev Ontario website and consult the Applicant Toolkit.


PLEASE NOTE: Applicants will not receive RRRF assistance from both their local CFDC and FedDev Ontario. Review the program guidelines to see which stream is right for you and contact us if you have any questions before applying.

Funding available through the Orillia Area CDC


The Regional Relief and Recovery Fund (RRRF) will provide financial support directly to SMEs to address COVID-19 impacts on rural and remote communities, contributing to their short-term stability. This access to financing will support SMEs that do not qualify for, have been rejected from, or require funding for expenses in excess of the support already received from current Government of Canada COVID-19 relief measures.

Applications can be submitted for loans of up to $60,000, offering the following terms:

0% interest and no principal payments required until December 31, 2022;

Principal repayments can be made at any time;

For clients receiving $40,000 or less:

  • 25% (not to exceed $10,000) of the amount received  can be forgiven provided the Client has paid 75% of the original loan amount prior to December 31, 2022;

For loans issued totally between $40,001 and $60,000:

  • 25% (not to exceed $10,000) of the first $40,000 and 50% (not to exceed $10,000) of the second $20,000 can be forgiven provided the client has paid the full outstanding balance by December 31, 2022. *For clarity, the portion of forgiveness based on a rate of 25% and the portion of forgiveness based on a rate of 50% are combined into a single tranche of forgiveness, which is only available if all other amounts outstanding are repaid by December 31, 2022;

If unable to repay the loan by December 31, 2022, the balance will be converted to an additional three-year term loan with an interest rate of 5%, effective January 1, 2023 with no forgivable portion.


Eligible applicants must meet the following criteria:

• Be located in the CDC coverage area, which includes: the City of Orillia; the Townships of Oro-Medonte, Severn, and Ramara; and the Chippewas of Rama First Nation;
• Be established prior to March 1, 2020;
• Be impacted adversely due to the COVID-19 pandemic;
• Be viable and not experiencing financial pressures prior to March 1, 2020;
• Have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses in excess of support already received; and
• Have not or will not accept other Government of Canada equivalent support.
• Applications submitted after June 30, 2021 will not be eligible