REGIONAL RELIEF AND RECOVERY FUND (RRRF)

FARR-PDC SADC

PRESS RELEASE
For immediate release

REGIONAL RELIEF AND RECOVERY FUND (RRRF)

$ 3.3 M NOW AVAILABLE FOR SMALL BUSINESSES OF OUTAOUAIS
AND MRC D’ARGENTEUIL

Outaouais, June 10, 2020 – The Covid-19 pandemic affects several companies. Entrepreneurs need more support than ever to get through this extremely difficult time and plan for recovery. The SADC Vallée-de-la-Gatineau, Pontiac, Papineau and CAE Rive-Nord for the Argenteuil MRC, receive $ 3.3 million from Canada Economic Development for Quebec Regions (CED) in the framework of the Regional Relief and Recovery Fund (RRRF). This financial contribution will help businesses that have not so far been unable to benefit from the support of the federal government.

Each SADC will therefore receive an amount of $ 1,059,691 and the CAE Rive-Nord will receive $ 211,938 for the MRC d’Argenteuil.

MORE THAN FINANCING
The assistance granted by the SADCs and CAEs can be in the form of working capital of up to $ 40,000 or even in the form of a non-repayable financial contribution for technical assistance needs such as expertise specialized in key areas currently with our clienteles such as adapting to health measures, developing a financial continuity plan to prepare for the future or even the adoption of technologies for online commerce.

The SADCs or CAEs may also carry out or collaborate on local economic development initiatives such as training for businesses, promotion of local purchasing, downtown revitalization operations and advertising campaigns.

QUOTEs:

“These investments are awaited in the community and the SADCs and CAEs will make sure to deliver this aid quickly over the next few weeks so that we can meet the urgent needs of our clienteles. The RRRF is a concrete solution and I sincerely thank the Honorable Mélanie Joly, as well as Messrs. William Amos and Stéphane Lauzon, for their listening and their contribution in implementing this measure. I also salute the dedication and creativity shown by the entrepreneurs of our region in coping with this crisis. The FARR is an additional support to allow businesses to remain operational. “

Daniel Chalifour, administrator at the SADC Vallée-de-la-Gatineau and representative on the board of directors of the Réseau des SADC et CAE.

“Canada Economic Development for Quebec Regions can count on the SADCs’ and CAEs’ collaboration in delivering the Regional Relief and Recovery Fund; with their local services, expertise and dynamism, they will be able to help entrepreneurs overcome COVID-19-related challenges. Together, we will get through this difficult period; let’s roll up our sleeves to kick-start our regions’ economies!”

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED.

“The SADCs and CAEs do exceptional local work, guiding entrepreneurs dynamically and with full knowledge of the needs and particularities of their communities. They are in the best position to accompany businesses affected directly by the economic impacts of COVID-19.”

Stéphane Lauzon, Member of Parliament for Argenteuil‒La Petite-Nation

“I am pleased to see this additional funding for our SADCs, as they are in the best position to meet the needs of our businesses in our rural communities, especially here in the riding of Pontiac. The tourism industry represents a large segment of our economy, particularly in the summer season. These new funds will help these businesses overcome COVID-19-related challenges.”

William Amos, Member of Parliament for Pontiac

QUICK FACTS

  • The FARR has a total envelope of $ 211 million in Quebec and is implemented in collaboration with CED, of which $ 71.3 million is dedicated to 67 SADCs and CAEs.
  •  The 67 SADC (Community Futures Development Corporations) and CAE (Community Business Development Corporations) have been working for almost 40 years in the economic development of their community. The SADC and CAE Network has 1,400 professionals and volunteers who support and finance more than 10,000 entrepreneurs and local economic development projects each year. The SADCs and CAEs offer entrepreneurs personalized and sustained support and flexible financing products adapted to their needs. www.sadc-cae.ca
  • CED is a key federal partner in regional economic development in Quebec. Through the Community Futures Program, CED financially supports the Réseau des SADC et CAE, the 57 SADCs, located in designated rural areas, and the 10 CAEs, located in peri-urban areas.

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Media Relations:
Marie-France Laflamme, Relations publiques
SADC │ Communications
819-986-1747 poste 208
[email protected]