Regional Relief and Recovery Fund (RRRF)

 

The COVID-19 pandemic is significantly affecting businesses, workers and communities across the country.

The Government of Canada is taking action to make sure everyone gets the support needed. It recognizes that some business owners and support organizations have not been able to access other federal emergency support measures. That is why it created the $962 million Regional Relief and Recovery Fund: to address gaps left by other support measures.

$110 million in support for affected Atlantic Canadian businesses and communities

The Atlantic Canada Opportunities Agency (ACOA) and the Atlantic Association of Community Business Development Corporations (CBDCs) are distributing the RRRF in Atlantic Canada.

The RRRF is complementary to existing federal programs

You must first apply for other federal support measures such as the Canada Emergency Business Account benefit, the Wage Subsidy benefit and the Commercial Rent assistance for small businesses, among others. Applicants are required to attest that they applied for other federal benefits and were approved, rejected or deemed ineligible.

Find details on these measures and others on the support for business page of the Government of Canada’s COVID-19 Economic Response Plan website.

  Just over $110 million will be allocated in Atlantic                  Canada:

  • $66.75 million through ACOA to support:
    • Small and medium-sized businesses that provide products and services to other businesses; and
    • Organizations that provide support services to businesses.
  • $43.3 million through the Atlantic Association of CBDCs to support main street businesses such as restaurants and retailers in small, rural and remote communities across the region.
    • Visit the CBDC website and click on your province for additional information on how to apply for the RRRF

\Who can apply to the RRRF?

Businesses and organizations that have either:

Businesses in sectors that are critical to the resilience and survival of Atlantic Canada’s economy, such as advanced manufacturing, ocean industries, clean growth technology, and tourism, may be given priority.

How to apply

ACOA

CBDCs

After you apply

ACOA will assess applications as soon as it receives them. We can quickly process applications that are in good order. Please reach out to ACOA to discuss your situation before you apply to ensure a seamless and speedy application process.

If you need additional information

If your business is located outside of Atlantic Canada, please contact the regional development agency in your region to see whether the RRRF might be able to help you.

Frequently asked questions

When can I apply for RRRF funding?

ACOA is now accepting applications for the RRRF online. We will continue to accept and assess applications until March 31, 2021, or until the funding runs out, whichever comes first.

I have not received federal emergency funds from other federal programs. Will I automatically get support through the RRRF?

ACOA and the CBDCs are making every effort to extend the RRRF to as many businesses as possible to ensure none are left behind. However, demand for funds may exceed what is available and some businesses may need to seek other options.

Please reach out to ACOA with any questions you have related to your specific needs. ACOA staff are well equipped to guide you through the various federal and provincial support measures available to you.

How will I receive ACOA funding under the RRRF?

Once you have accepted an offer of approved funds, ACOA may provide you with an advance of up to half of that amount. This will help ensure that you have access to the cash flow you need to keep operating and protect jobs. ACOA will provide the rest of the funding after you submit valid claims to ACOA.

Will I have to repay the RRRF support I get from ACOA?

RRRF contributions are repayable. If you receive RRRF support, you will benefit from a two-year “grace” period ending December 31, 2022. You will be required to start payments to ACOA on January 1, 2023 and to repay the amount in full by December 31, 2025.

What is the maximum amount I can get for my business through the RRRF?

Depending on the circumstances, if your business does not qualify for existing federal measures, you may be eligible for funding amounts comparable to federal benefits already announced. Please consult an ACOA official to discuss your particular situation and needs.

Are there any restrictions on how I can use RRRF funds?

You can only use the funds from the RRRF to pay for eligible costs as described in your contribution agreement. Eligible costs will be determined on a case-by-case basis, which you can discuss with your ACOA program officer.

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