In order to assist rural small businesses with the challenges and uncertainties associated with COVID-19, Community Futures has curated a roster of business-related resources and supports, available below.
Virtual Office
Please Note: Due to the COVID-19 Health directives and advisories, Community Futures North Okanagan’s offices are currently closed. In order to help #FlattenTheCurve, CFNO staff are working to provide our small business supports, services, workshops and programs virtually. We are happy to assist you remotely during regular office hours via phone, email or Zoom. As the COVID-19 situation evolves, we will reassess and provide updates as they become available. Stay safe & healthy.
COVID-19 Business Supports from Community Futures (RRRF)
On April 17, 2020, the Government of Canada announced the Regional Relief and Recovery Funds (RRRF). With nearly $1 Billion committed to support affected businesses and communities, the RRRF will help to:
- Mitigate the financial pressure experienced by businesses and organizations to allow them to continue their operations, including paying their empoyees
- Support projects by businesses, organizations, and communities to prepare now for a successful recovery
If repaid before December 31, 2022:
- No interest or principal payments
- If 75% of loan is repaid, the remainder of the loan is forgiven (up to $10,000 based on loan amount of $40,000, and will be considered taxable income)
- No prepayment penalties
If repaid after January 1, 2023
- Beginning of blended principal and interest payments (fixed interest rate 5%)
- No prepayment penalties
More details on the RRRF small business supports and how to access them can be found here:
Community Futures Pan West RRRF Release
Community Futures RRRF Factsheet
Other COVID-19 Business-Related Supports & Resources
Federal Government resources:
Canada’s COVID-19 Economic Response Plan
General information on COVID-19
Regional Relief and Recovery Fund
Supports for businesses and industries
BC Provincial Government resources:
*COVID-19 & Returning to Safe Operations – WorkSafeBC
COVID-19: Financial Supports for Small Businesses in B.C.
General COVID-19 Provincial Support and Information
Other resources:
Thompson Okanagan Tourism Micro Loan Program
BC ECONOMIC DEVELOPMENT ASSOCIATION
Canadian Business Resilience Network
Canadian Federation of Independent Business
Canadian Mental Health Association
Greater Vancouver Board of Trade
Small Business and COVID-19 Safety- WorkSafeBC