For Immediate Release
October 1, 2021
Venture Niagara Provides Additional Pandemic Relief Funds
to Niagara Businesses
Thorold ON - Small businesses are vital to the Niagara community. The COVID-19 pandemic has caused uncertainty for these businesses and their employees. To help navigate the challenges caused by the pandemic, Venture Niagara Community Futures Development Corporation has just completed the disbursement of another $755,000 in “CEBA-Like” loans in this latest round of pandemic related liquidity support. These funds have been provided to 19 businesses bringing the total amount of Regional Relief and Recovery Fund / “CEBA-like” loans provided by Venture Niagara to more than $4.3 million for 108 businesses across the Niagara region.
The RRRF/CEBA like loans can be as much as $60,000 to help cover operating costs and maintain jobs across the region. The funding provides businesses with support to find their way through the uncertainty of the pandemic while planning for the future.
Venture Niagara General Manager Frank Rupcic notes, “The ongoing process of marketing this program, reviewing applications, approving requests and disbursing funds has been a collaborative effort that included many community partners such as the economic development offices and the vibrant network of business support service providers across the region as well as Venture Niagara’s own volunteer Board of Directors and staff.”
- Venture Niagara has provided over $4.3 million to Niagara businesses to help navigate the challenges of the COVID-19 pandemic.
- Venture Niagara is one of the 21 Community Futures Development Corporations in the Western Ontario Community Futures Development Corporations Association (WOCFDCA) that have provided more than $43 million in pandemic relief to businesses in this part of southern Ontario.
- Funds are provided to Community Futures Development Corporations by the Government of Canada through the Federal Economic Development Agency for Southern Ontario – FedDev Ontario.
General Manager, Venture Niagara