The Superior East CFDC has been busy over the past year offering Covid-19 programs as well as regular loans within the Superior East Region. The Covid-19 programs include RRRF Loans, Post Covid Professional Services and Covid Safety Protocol Project programs. The RRRF Loans of up to $60,000 are still available to local businesses until June 30, 2021. The Post Covid Professional Services program has officially wrapped up as funds allocated have been spent. The Covid Safety Protocol Project program is scheduled to end June 15, 2021 or until the funds have been expended. This program offers up to $5,000 in a non-repayable contribution. All Covid-19 programs are on a first-come, first-serve basis until the funds run out.
Superior East CFDC is a non-profit organization funded through FedNor that provides small business loans and counseling as well as regional economic development services in the Superior East Region including Chapleau, Dubreuilville, Wawa, White River, and surrounding First Nations. A volunteer board of directors provides guidance to the corporation and consists of residents from the entire region. During the year of 2020, the Board approved $1,348,600 in regular loans, $660,000 in RRRF loans, and $215,385 in regional loans for a total of $2,223,985 in loans for the year. These loans served to create or maintain 124 jobs in the region.
The year-to-date statistics show that $26,062,195 in loans have been approved and disbursed since 1989 which have served to create or maintain 2,903 jobs. These funds have leveraged $23,484,118.
If you are interested in any of the programs, please call (705) 852-0863 or email Tracy Amos at [email protected]