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The Superior East Community Futures Development Corporation is a non-profit regional organization covering the Superior East region which includes the area from Pic Mobert First Nation to Chapleau. It offers small business loans and counselling as well as regional community development services. The Regional Relief and Recovery Community Development Fund still has a limited amount of funds available to non-profit organizations to assist them in recovering from the pandemic. The RRRCD Fund is available to First Nations, municipalities, economic development corporations or other non-profit community organizations. The program can provide up to $5,000 in non-repayable funding for initiatives that support economic and social goals. Some examples include seminars or workshops, marketing, special events, moving to online, workplace modifications, personal protective equipment, etc. All projects must be completed prior to March 31, 2022.
Another program available to local employers is the Northeastern Ontario Youth Internship Program. It is available to employers to assist with hiring a youth intern. The project must be related to innovation, digital economy or trade. The program can contribute up to 50% (to a maximum of $31,500) for the eligible costs of salary, employee benefit expenses, professional/business skills development and associated travel costs for a period of 12 months in a full-time position. For more information on either of these programs please contact Chantal Croft at (705)856-1105 or 1-800-387-5776, ext. 223 and leave a message or email [email protected].
During the 2021 year the corporation authorized $1,000,500 of local regular loans and $48,397 in regional loans. A total of $360,250 in RRRF loans was also approved. The grand total for the year amounts to $1,409,147. These loans have created or maintained 48 jobs in the region and leveraged $2,168,500 from other sources. Since inception in 1989 a total of $27,371,342 in loans have been approved and disbursed in the region. This has served to create or maintain a total of 2,951 in jobs at a cost per job of $9,275.
Superior East CFDC is funded through FedNor. For more information on programs and services available, please visit the website at www.superioreastcfdc.ca.
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