Community Futures Provides Funding To Local Businesses
Thanks to funding from the federal government, Community Futures of Lloydminster and Region was able to help 21 Vermilion businesses get through some of the financial difficulties the pandemic has caused. The Regional Relief and Recovery Funds were designated as tailored small business loans to help rural businesses that did not qualify for other federal business support programs.
Throughout the Community Futures Region, which supports the communities of Lloydminster, Vermilion, Marwayne, Dewberry, Onion Lake Cree Nation, Marshall, Kitscoty, Britannia, the County of Vermilion River, Lashburn, RM of Wilton, RM of Frenchman Butte and Paradise Valley, this aid created roughly 130 full time positions, over 75 part-time positions and 45 seasonal jobs in the past year.
Interested businesses could have been eligible for up to $40,000 in low interest, penalty free payment loans that were provided to help cover operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity. The business had to be adversely affected by the COVID-19 pandemic.
While this program is closed at the present time, Community Futures offers many other options to support local businesses and contribute to their success. Check out their website at: http://lloydminsterandregion.albertacf.com/