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Coping During COVID: CFNO Helps Businesses with Emergency Loan Funding

April 27, 2020/in News

Loans of up to $25,000 are available to North Okanagan businesses to help them endure the economic impacts of COVID-19

When Darren Bezanson had to shut down the seating inside his Armstrong restaurant due to COVID-19 social distancing requirements, he knew who to call. 

Worried about how he was going to pay his staff and suppliers, the owner and chef of Fairways Bistro and Catering contacted Scot McNair, Business Loans Advisor at Community Futures North Okanagan.

“I wanted to see if I could get extra funding and get my staff paid and bills up to date, and what the process of that was going to look like,” Bezanson says.

McNair was able to help Bezanson access funding through CFNO’s new Emergency Loans Relief Program, which assists businesses in getting through the COVID-19 economic slowdown with business loans of up to $25,000. 

With flexible terms and payment schedules, CFNO’s Emergency Loan Relief Program is different from the Canadian government’s emergency business loans program, says McNair. While the government program is interest-free, it has several requirements that some businesses can’t meet, including a minimum $20,000 payroll.

“The Community Futures program offers interest and payment-free loans for the first 90 days to help businesses get through the initial period and to a place where they can start back up again. The interest rate remains low for the remainder of the payback period. It’s a good fit for anyone who needs a bit of flexibility.” 

Having received support and services from CFNO since he opened his business six years ago, Bezanson says CFNO’s Emergency Loan Relief couldn’t have come at a better time. 

“There was no hesitation. The turnaround time to receive the funds took less than a week. Scot stepped right up and went to bat for us. The loan has allowed for us to continue to function and stay afloat,” says Bezanson.

While reopening his restaurant to public seating may take a while, Bezanson has been able to continue a takeout food and beverage service as well as a delivery service, thanks also to support from the Armstrong Spallumcheen Chamber of Commerce.

“Having business support and organizations such as Community Futures that have your back has been a huge load off,” he says.

CFNO is also helping small businesses navigate COVID-19 with support services such as virtual regional roundtables through #NOKTogether, as well as with one-to-one telephone or virtual meetings for business coaching and advice, and updated resources and information through its social media channels.

For more information or to inquire about Community Futures North Okanagan’s Emergency Loan Relief Fund, contact Scot McNair at ­­­­250-545-2215  Ext. 249 or fill out the form available at http://www.futuresbc.com/independent-business-loan-inquiry/.

This program is funded by the Government of Canada.

https://www.futuresbc.com/wp-2/wp-content/uploads/2020/04/Fairways-Bistro-Darren_copy_horizontal.jpg 667 1000 Kazia Mullin https://futuresbc.com/wp-2/wp-content/uploads/2021/08/Community-Futures-North-Okanagan-Logo.png Kazia Mullin2020-04-27 10:54:522020-04-27 10:54:52Coping During COVID: CFNO Helps Businesses with Emergency Loan Funding

Experts Help Businesses Navigate COVID-19 with New Regional Roundtables

April 14, 2020/in News

Amidst a rapidly changing business landscape, employers in the North Okanagan can gain greater insight on how to access new programs and continue operating during this difficult .

The #NOKTogether Regional Roundtables hosted by Community Futures North Okanagan will take place every Thursday morning, and feature presenters on specific topics to support business owners navigating COVID-19. Businesses from all North Okanagan communities are welcome to participate in these no-cost roundtable sessions.

Thursdays

Starting at 11am

https://zoom.us/j/788148493

The regional roundtables kick off April 16, and will focus on employment law with guest presenters Kelsey Wheelhouse, a litigation lawyer from Davidson Lawyers with extensive understanding of employment, labour and human rights law; and Selena Stearns, wage subsidy advisor, CFNO.

This topic will help employers better understand their obligations as they lay off and rehire employees in these unique times.

Each week, presenters will share expertise on a different and specific theme, and these will continue to be announced.

Presentations will be followed by a Questions & Answer period so please bring your questions.

Thursday, April 16

Topic: What You Need To Know As An Employer During the COVID-19 Pandemic

Presenters: Kelsey Wheelhouse, Davidson Lawyers, and Selena Stearns, CFNO

Thursday, April 23

Topic: What You Need To Know About Your Small Business Financials During The Pandemic Economic Slowdown

Presenters: TBD

#NOKTogether is a collaboration of business support organizations and local government with a goal of streamlining communication and resources to support local businesses and residents through the new website noktogether.com. The project is supported by Community Futures North Okanagan, City of Vernon, Lumby & District Chamber of Commerce, Splatsin Band, Greater Vernon Chamber of Commerce, City of Armstrong, Downtown Vernon Association, City of Enderby, Enderby & District Chamber of Commerce, Township of Spallumcheen, Village of Lumby, Okanagan Indian Band, the Regional District of the North Okanagan, Armstrong Spallumcheen Chamber of Commerce, District of Coldstream, Okanagan College, Beach Radio and Vernon Matters.

In addition to updates about virtual roundtables, webinars and training opportunities, the noktogether.com website provides streams of curated resources for employees and employers as well as additional health resources, news updates and a list of businesses still open in the region.  

https://www.futuresbc.com/wp-2/wp-content/uploads/2020/04/NOKTogether-Image-approved-3.png 788 940 Kazia Mullin https://futuresbc.com/wp-2/wp-content/uploads/2021/08/Community-Futures-North-Okanagan-Logo.png Kazia Mullin2020-04-14 12:45:242020-04-14 12:45:24Experts Help Businesses Navigate COVID-19 with New Regional Roundtables

New #NOKTogether group launches website

April 7, 2020/in News

Online resources help business community & residents navigate COVID-19

NORTH OKANAGAN, BC—With the launch of the new #NOKTogether partnership and website, North Okanagan businesses and residents have access to a single hub of relevant and timely information as well as important tools to help endure the COVID-19 crisis.

“This is an incredibly unique and challenging time for everyone. Our community’s business leaders wanted to support business owners and residents by bringing together the most relevant updates and tools in one place, and also help them stay connected,” says Leigha Horsfield, general manager, Community Futures North Okanagan.

#NOKTogether is a collaboration between several North Okanagan business organization partners and local government, including Community Futures North Okanagan, City of Vernon, Lumby & District Chamber of Commerce, Splatsin Band, Greater Vernon Chamber of Commerce, City of Armstrong, Downtown Vernon Association, City of Enderby, Enderby & District Chamber of Commerce, Township of Spallumcheen, Village of Lumby, Okanagan Indian Band, the Regional District of the North Okanagan, Armstrong Spallumcheen Chamber of Commerce, District of Coldstream, Okanagan College, Beach Radio and Vernon Matters.

The noktogether.com website has streams of curated resources for employees and employers as well as additional health resources, news updates and a list of businesses still open in the region.  

“Many of our members have found ways to continue serving customers by adapting their service to help ensure everyone’s safety, and it’s been inspiring to see how residents are reaching out to support those local businesses,” says Patti Noonan, general manager, Armstrong Spallumcheen Chamber of Commerce.

The website also hosts a curated list of virtual meetups—webinars, online training and virtual roundtables.

“It’s important that we look for ways to help businesses stay connected with the wider business community so we can engage with and support one another as we respond to COVID-19,” says Kevin Acton, chairperson, Regional District of the North Okanagan.

To learn more, visit noktogether.com

ABOUT #NOKTogether

#NOKTogether is a collaboration of business support organizations and local government with a goal of streamlining communication and resources to support local businesses and residents through the new website noktogether.com. The project is supported by Community Futures North Okanagan, City of Vernon, Lumby & District Chamber of Commerce, Splatsin Band, Greater Vernon Chamber of Commerce, City of Armstrong, Downtown Vernon Association, City of Enderby, Enderby & District Chamber of Commerce, Township of Spallumcheen, Village of Lumby, Okanagan Indian Band, the Regional District of the North Okanagan, Armstrong Spallumcheen Chamber of Commerce, District of Coldstream, Okanagan College, Beach Radio and Vernon Matters.

https://www.futuresbc.com/wp-2/wp-content/uploads/2020/04/NOKTogether-website.jpg 1536 2048 Kazia Mullin https://futuresbc.com/wp-2/wp-content/uploads/2021/08/Community-Futures-North-Okanagan-Logo.png Kazia Mullin2020-04-07 11:55:062020-04-07 11:55:06New #NOKTogether group launches website

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From our office in downtown Vernon, Community Futures North Okanagan offers employment, business and economic development services to help residents build their future and the community. We service Armstrong, Coldstream, Enderby, Grindrod, Lavington, Lumby, Mara, Okanagan Indian Band,  Spallumcheen, Splatsin and Vernon.

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