Newly Released Financial Supports for Businesses in NL


Applications Now Open for Regional Relief and Recovery Fund (RRRF) through CBDC

Small business owners impacted as a result of the COVID-19 pandemic can apply for loans up to $40,000 through this program.

The Regional Relief and Recovery Fund provides funding to support businesses that do not qualify for the Canada Emergency Business Account (CEBA) the Canada Emergency Wage Subsidy (CEWS) or the Canada Emergency Commercial Rent Assistance (CECRA).

Applications Now Available for Canada Emergency Commercial Rent Assistance Program

This program aims to lower rent by 75 per cent for small businesses that have been affected by COVID-19.
The program, which will be administered by CMHC, is a collaboration between the Federal Government and provincial and territorial governments. The Provincial Government and the Federal Government will cost-share the program.

New Support Program for Tourism and Hospitality Industry

To assist eligible tourism and hospitality based operators impacted by the COVID-19 pandemic, the Provincial Government today announced a $25 million support program for the industry.

Minister Osborne Announces Measures to Ease Pressures on Local Businesses

To assist the business community in Newfoundland and Labrador during the COVID-19 global pandemic, the Provincial Government announced the deferral or waiver of a number of fees, as well as steps to reduce regulatory burden. The deferral of more than $6 million in fees will help ease some of the operational pressures facing businesses and free-up cash flow in these uncertain times.

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