/Additional funding available for businesses

Additional funding available for businesses

Businesses needing financial support now have access to additional loan dollars through the Haliburton County Development Corporation, which announced on Nov. 23 $560,000 was available from the Government of Canada through the Regional Relief and Recovery Fund.

With the second installment of funding, more than $1.5 million has been made available locally.
The Regional Relief and Recovery Fund helps those who may not be eligible for other funding and since May, more than 1,000 businesses in the region have received assistance.

HCDC is offering loans to businesses of up to $40,000 at zero per cent interest.
“Through RRRF we are pleased to be able to provide additional critical support to those small businesses adversely affected by COVID-19,” said Peter Smith, HCDC board chair. “Through our partnership with the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) we are able to provide much needed capital to those businesses who are unable to access current government subsidies.”

Earlier this year, Haliburton Guitar Studio was able to access relief funding through HCDC, which provided working capital, allowing them to expand services and provide online offerings.
“They have also been able [to expand] their markets and have more clients now than before the pandemic,” information from HCDC reads.
The business offers private lessons, in-house recording, consultation and talent booking, video and music live-streaming services.

To date, HCDC has provided $948,000, supporting 31 businesses affected by the pandemic, covering operating costs and maintaining 72 jobs.
For specific details on the loans available, go to www.haliburtoncdc.ca or call 705-457-3555.