The Elgin Business Resource Centre is once again helping to support local businesses with the second installment of the Regional Relief & Recovery Fund.
As they did in May of this year, the EBRC is offering loans to local small and medium sized businesses who do not qualify for or who have been declined current COVID-19 relief funding that has been put in place by the Government of Canada.
Kevin Jackson, General Manager of the EBRC says that the loan is structured to be interest free and payment free for two years with a forgivable portion. If the loan is not paid after the two years, it simply converts into a regular 3-year term loan at an interest rate no higher than 4%.
The EBRC has already supported 28 businesses throughout Elgin County with the first installment of the RRRF, and Jackson says that there are still many businesses and industries being affected by the COVID-19 pandemic.
Jackson adds that those who are interested can speak with one of their advisors.
Those wishing to apply or learn more about the loan, can contact Jackson through email at kjackson@elgincfdc.ca, by phone at 519-633-7597 ext. 337 or through the EBRC website.
