Prince Edward Island: Summary of Programs (RRRF, EWC and UMSLI)
Regional Relief and Recovery Fund (RRRF)
Update on the Regional Relief and Recovery Fund
Demand for the Regional Relief and Recovery Fund has exceeded the funds available and our application portals are now closed.
We know rural small businesses will need ongoing support on the road to recovery. 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 local CBDC directly here.
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.