Community Futures Development Corp. -Small Business Assistance
FEDERAL GOVERNMENT COMMITS $962 MILLION TO REGIONAL DEVELOPMENT AGENCIES, COMMUNITY FUTURES NETWORK
April 20, 2020
Many local businesses will benefit from new federal government aid of $675 million to boost all of Canada’s regional development agencies (RDAs) and $287 million for Community Futures Development Corporations. The money is specifically meant to support rural businesses and those which may not have existing relationships with financial institutions. The money will also help the local tourism sector, especially hospitality, retailers, and other small and independent businesses that may not fit into other government support programs.
Here in Simcoe North, we are fortunate to have two very dedicated and professional Community Development organizations. The business communities in the City of Orillia, Townships of Oro-Medonte, Ramara, Severn, and the Chippewas of Rama First Nation all benefit from the diverse range of services provided by the Community Development Corp (CDC) located in Orillia https://www.orilliacdc.com/. Also serving our riding is the Simcoe North Community Futures Development Corporation located in Midland. https://nscfdc.on.ca/
In making the announcement, the government was not able to provide further details on how the funding to RDAs and the Community Futures Network will be deployed. I will post further updates as further information is provided.