New funding program

The Prescott-Russell Community Development Corporation (PRCDC) is very proud to offer a new funding program for the Prescott-Russell SMEs.

The Prescott-Russell Regional Relief and Recovery Fund (RRRF) is financial support for businesses that were unable to access the existing government’s support measures due to the COVID-19 pandemic.

Here are the funding parameters:

• Maximum loan of $40,000;
• 0% interest and no principal payments until January 2023;
• Principal repayments can be voluntarily made at any time;
• 25% (not exceed $10,000) of any loan can be forgiven provided the recipient had paid 75% of the original loan amount prior to December 31st, 2022;
• If the recipient is unable to repay the loan by December 31st, 2022, the loan will be converted to a three-year term loan with interest rates up to 5%, effective January 1st, 2023. The full balance must be repaid no later than December 31st, 2025

We invite you to visit their website to know more about the guidelines, admissibility criteria and for the application form.

Please don’t hesitate to contact them if you have any questions at info@sdcpr-prcdc.ca