Prince Edward Island: Summary of Programs (RRRF, EWC and UMSLI)
Regional Relief and Recovery Fund (RRRF)
The Government of Canada and Community Business Development Corporations (CBDCs) understand the difficulties the COVID-19 pandemic has caused the small business community throughout Atlantic Canada. As a result, the Government of Canada has made funds available to the CBDCs to provide support and assistance to Small and Medium-Sized Enterprises (SMEs) located in non-metropolitan regions (all areas served by CBDCs) in Atlantic Canada through the rural stream of the Regional Relief and Recovery Fund (RRRF). Please see below for more information on the Regional Relief and Recovery Fund and how to apply.
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.
Click here for more information or to apply!
Tourism Activation Grant
The purpose of the program is to provide tourism businesses with a non-repayable financial contribution (grant) toward eligible expenses to assist with capital and/ or maintenance costs associated with opening for the 2021 Season. This program is intended to support investments that will help tourism businesses adapt to a new normal and position them to capitalize on future economic recovery.