spot_img
Friday, August 8, 2025
spot_img

Valley Heartland responds to COVID with $1.7 million for small businesses

spot_img

Small businesses are vital as the backbone of our rural. To support businesses through the coronavirus crisis, Valley Heartland Community Futures Development Corporation (CFDC) acted quickly to help local businesses weather the pandemic’s stress and cash flow challenges and to keep funds circulating in the local economy when it was needed most.

On March 16, Valley Heartland reduced lending rates and launched a Resiliency Micro-Loan Program with funds from their Community Investment Fund. In two months, 28 businesses across Lanark County and North Leeds received emergency support funding through this program.

On May 13, the Honourable Mélanie Joly, Minister of Economic Development, and Official Languages announced that southern Ontario businesses could apply for the Regional Relief and Recovery Fund (RRRF). With $962 million nationally, $287 million was available to support rural businesses with access to capital through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) and Community Futures Development Corporations (CFDC).

As a CFDC, Valley Heartland provided financial contributions (interest-free loans) to help support fixed operating costs of business where revenues have been affected by the COVID-19 pandemic. Through this program, 27 local businesses received support.

In total, Valley Heartland has provided $1,704,888.00 in funds to businesses in Lanark County and North Leeds to respond to the COVID pandemic between March and June.

Article submitted

spot_img
spot_img

Hot this week

Smiths Falls Police address crash, bar incident and youth assault in series of responses

SUBMITTED No injuries after collision with hydro pole. Driver facing...

King Charles III Coronation Medal recognizes exceptional Canadians

LAURIE WEIR In a special ceremony hosted by Lanark—Frontenac—Kingston MP...

UCDSB to host holocaust survivor Andy Rèti as Tour for Humanity returns

SUBMITTED The Tour for Humanity mobile classroom will return to...

Smiths Falls History & Mystery: Farmer grocer solider reeve

Ambrose Halladay moved into the Keyhole House in Smiths...

Impaired charge laid after a collision on Roger Stevens Drive

SUBMITTED A Toronto resident has been charged following a single...
spot_img

Stolen boat motor recovered in Arden

SUBMITTED BY OPP EAST REGION Arrest Warrant To Be Issued...

Council divided over veto, integrity complaints, and strong mayor powers in Rideau Lakes

LAURIE WEIR CHANTRY — The controversy around the Chantry office...

Disturbance results in multiple charges

SUBMITTED BY LANARK COUNTY OPP CARLETON PLACE - The Lanark...

Butterflies take flight again in Perth for second annual memorial release

Community gathers Aug. 20 to honour loved ones through...

Canada Post clarifies that the red flag’s only use is for outgoing mail

LAURIE WEIR PORTLAND — Rural residents, did you know that...

Six charged in Smiths Falls police investigations including impaired driving and animal cruelty

SUBMITTED / SMITHS FALLS POLICE SERVICE Breach investigation results in...

HOMETOWN HAPPENINGS: Markets, music and family fun this weekend

Looking for something to do this weekend? We’ve got...

Related Articles

Popular Categories

spot_img