Prince Edward Island: Summary of Programs (RRRF, EWC and UMSLI)
Regional Relief and Recovery Fund (RRRF)
Update on the RRRF
The demand for funds for the Regional Relief and Recovery Fund has exceeded the funds available and our application portals are now closed.
CBDCs were proud to administer the $43.3 million the government provided to rural small businesses in Atlantic Canada to help navigate the COVID-19 pandemic.
On the road to recovery, we know rural small businesses will continue to require support; we encourage you to learn more about the variety of small business loans, entrepreneurial training and business counselling services CBDCs have to offer here or contact your CBDC directly here.
Small Business Emergency Working Capital Loan Program
The Government of Prince Edward Island and Community Business Development Corporations (CBDCs) understand the difficulties the COVID-19 pandemic has caused businesses in our communities. As a result, the Government of Prince Edward Island has made funds available to the CBDC s to provide Small Business Emergency Working Capital to help provide relief for the impacts our communities are encountering as a result of this crisis.
Small business owners impacted by the COVID-19 pandemic can apply for working capital loans up to $100,000 through the Small Business Emergency Working Capital Program.
Click here for more information or to apply!
Urban Main Street Loan Initiative (UMSLI)/Initiative des prêts pour les entreprises urbaines de rue principale
CBDC Central PEI is a provider of the Atlantic Canada Opportunities Agency (ACOA) Regional Relief and Recovery Fund (RRRF) for “Main Street Businesses” called The Urban Main Street Loan Initiative. The business must be located in the Greater Charlottetown area (Charlottetown, Stratford and Cornwall).
This loan is to be used to finance the everyday operations of a business such as sales and marketing, product development, wages and other activities for businesses such as retail shops, restaurants, corner stores, etc., and businesses of strategic importance to the community.
Click here for more information or to apply!
Commercial Loans for Businesses and Entrepreneurs in Atlantic Canada
From small businesses to even larger ones, there are many times when a business may need a commercial loan. Perhaps you need to procure new machinery or equipment? Maybe it’s time to upgrade your facilities or buildings. Or perhaps a loan is the only way for you to improve or expand your business to tap new market opportunities. Banks and other traditional lending institutions can often be unavailable to you. At the Community Business Development Corporation (CBDC) we might be able to help! The most flexible commercial business loan we offer, the CBDC General Business Loan was made just for these situations.