ACOA launches new fund to help small businesses weather COVID-19
A total of $110 million is available for Atlantic businesses unable to access existing relief measures
Financial support is coming to Atlantic Canadian businesses struggling to weather the impact of the COVID-19 outbreak.
On Wednesday, the Atlantic Canada Opportunities Agency launched a Regional Relief and Recover Fund (RRRF.) Businesses and organizations that are unable to access other existing measures can apply for the fund through ACOA.
A news release from ACOA indicates that many small businesses are still "falling through the cracks" and are ineligible for other forms of relief or federal support, particularly in rural and remote communities.
The RRRF is designed specifically for small- and medium-sized businesses in sectors such as manufacturing, technology, tourism and others that are "key to the regions and local economies," according to the release.
A total of $110 million will be available for Atlantic Canadian businesses.
The funding is being delivered through the Regional Development Agencies.
In a news release, the federal government said those agencies are "best positioned to provide this additional support because they work closely with communities across the country every day and are familiar with diverse local realities."
Those interested in applying can fill out the application form online.