In June, the government of Canada, in partnership with local SADCs and CAEs, established the Fond d’Aide et de Relance Régionale (FARR) to help ease the financial burdens of the COVID-19 Pandemic, on small and medium size businesses (SME) across the country. The member of Parliament for the Pontiac, Will Amos, held a press conference Wednesday to highlight Ginger Finan and the Gelam Riding Stable in Clarendon.
This investment of $965,854 in the Pontiac allowed 183 SMEs, in which 81 are owned by women, to benefit from a maximum of $40 000, $10 000 of which is non-refundable, to be used for building infrastructure, applying health and safety measures, adopting new technologies such as an online services, modifying business strategies or developing a financial plan.
For Ginger Finan, the FARR could not have came at a better time.
The funds borrowed by businesses as part of the FARR must be repaid to the SADC Pontiac within 2 years. The money with then be re-invested into another local business providing self-sustainable funding to Pontiac SMEs.
The full interview in French with Ginger Finan is available here.