An example of the impact of the FARR on Pontiac businesses

An example of the impact of the FARR on Pontiac businesses

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.