Community Business and Development Centre Inc.
Parry Sound Area Community Business & Development Centre
The Parry Sound Area Community Business & Development Centre is a federally supported not-for-profit Community Futures Development Corporation, governed by volunteers in partnership with FedNor. The services provided by the CB&DC exist to promote economic growth and community development of the Parry Sound region. The centre focuses on job creation by community strategic planning and providing funding and advisory services to area businesses. Industry Canada/FedNor and others provide various Tools for Business to assist both start-up and existing businesses. The CB & DC can offer these products as tools to entrepreneurs in the Parry Sound area.
CB&DC wants to make the West Parry Sound region a thriving economic hub for those living and visiting. This is accomplished by providing loans to assist both start-up & existing businesses. Since opening its doors in 1987 the CB&DC has approved over 539 loans, valuing over 47 million dollars. The CB&DC has created & assisted in maintaining 2292 jobs in the local area.
Contact the CB&DC today to see your business dreams become reality.
To the clients of the Parry Sound Area Community Business & Development Centre, on behalf of the staff and Board of Directors of the CB&DC, I want to thank you for all of the measures you have taken so far to ensure you meet the needs of the West Parry Sound Area, while observing public health recommendations and the needs of your business and your staff and their families. As small and medium sized businesses, you are providing many of the services that make up the fabric of our communities, and in these uncertain times I am extremely proud of the work you have done.
The staff of the CB&DC are dedicated to continuing to assist you in any way possible, and ensuring you receive relevant, true, impactful information. Though our office remains closed to the public, all staff are working regular business hours and are available digitally to meet as many of your needs as possible. I urge you to subscribe to our Facebook page, as well as CF Ontario’s Facebook page, for information relating to business programming and updates as they become available.
These are truly extraordinary times, and I know our local businesses may be struggling to how to approach the upcoming peak season, managing day-to-day operations with the uncertainty of how long these pandemic measures may last.
The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic. The Fund, valued at more than $962 million nationally, is delivered by Canada’s six regional development agencies.
In Northern Ontario, $49.5 million is available as follows:
- $24 million through FedNor for SMEs and not-for-profit organizations facing financial pressure; and
- $25.5 million to provide rural businesses with access to capital and technical support, delivered by Northern Ontario’s 24 Community Futures Development Corporations.
Funding available through your local CFDC
In order to provide targeted assistance to the small towns and communities they serve, CFDCs will focus on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $40,000.
- Eligible CFDC applicants must also meet the following criteria:
- established prior to March 1, 2020;
- impacted adversely by the COVID-19 pandemic;
- viable and not experiencing other financial difficulties prior to March 1, 2020;
- have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.
Applications can be submitted for:
- Loans of up to $40,000 to help address working capital needs.
- Follow the application process provided by your local CFDC. [CFDCs are encouraged to post an application guide and public facing program guidelines, and link to them here.]
- Contact your local CFDC by telephone or email.
- Complete the application.
Funding available through FedNor
FedNor is delivering $24 million in funding support to SMEs impacted by COVID-19 that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures.
Applicants must meet the following eligibility criteria:
- Businesses such as: incorporated companies, corporations or co-operatives, or Indigenous organizations such as Indigenous/First Nation/Métis Settlement owned businesses, that:
- Are located or operating in Northern Ontario;
- Do not qualify or have been rejected from, current Government of Canada COVID-19 relief supports or demonstrate the need for incremental support;
- Employ between 1 and 499 individuals on a full-time basis in Canada; and
- Are negatively impacted by the COVID-19 pandemic.
- Not-for profit organizations, such as Chambers of Commerce, Industry or Sector Associations, and Tourism organizations;
- Based in Northern Ontario and/or offer support to businesses located in Northern Ontario; and
- Carry out commercial activities, and that are positioned to support SMEs regarding COVID-19.
For more information, including how to apply, please visit the FedNor website.
Please note: Applicants will not receive RRRF assistance from both their local CFDC and FedNor for the same expenditures. Review the program guidelines to see which stream is right for you and contact us if you have any questions before applying.