The Government of Canada, through Western Economic Diversification Canada, is providing loans of up to $40,000 for eligible rural businesses to help small businesses cope with financial hardship and recovery from economic disruption resulting from COVID-19.

Community Futures Central Island is pleased to provide access to this Regional Relief and Recovery Fund (RRRF) to entrepreneurs in the central island area (Ladysmith – Bowser). If your business isn’t eligible for the Canada Emergency Bank Account (CEBA) and is struggling to meet working capital needs due to COVID-19, then this may be a good option for you.

The RRRF is available for sole proprietorships, partnerships, corporations, cooperatives and non profit organizations.


  • Small and Medium-Sized Enterprises (SMEs) located in non-metropolitan regions (all areas served by Community Futures organizations) in Western Canada.
  • SMEs must attest they have not received duplicative supports through other federal or provincial government COVID-19 support programming such as the Canada Emergency Business Account.
  • The small business must have been viable and not experiencing any liquidity or other financial difficulties as of March 1, 2020.
  • The small business must have experienced a material adverse effect on business operations on or after March 1, 2020 as a result of the COVID-19 pandemic.
  • Business established before March 1, 2020.


  • Lease payments for existing equipment and machinery;
  • Salaries and benefits (will only be considered for support if the business has not received support under the Canada Emergency Wage Subsidy (CEWS);
  • Property taxes;
  • Utilities;
  • Bank charges and interest payments;
  • Office supplies;
  • Vehicle operating expenses;
  • Professional fees;
  • Monthly insurance payments;
  • Rent (applicants are expected to pursue with their landlord access to the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses); and
  • Other fixed operating costs applicable to the applicant.


  • Maximum assistance is $40,000;
  • 0% interest and no principal payments until December 31, 2022;
  • Principal repayments can be voluntarily made at any time;
  • 25% (not to exceed $10,000) can be forgiven, provided 75% of the original loan amount is paid prior to December 31, 2022;

If loan is not repaid by December 31, 2022, the loan will be converted to a three-year term loan with interest rates up to 5%, effective January 1, 2023. The full balance must be repaid no later than December 31, 2025;

Below you will find the link to the online application portal. Only applications completed in full will be considered. Please note that the software vaguely indicates that providing your business financials is not 100% mandatory. This is inaccurate. Applications which do not include financial statements will not be reviewed. Your application, once submitted through the portal, is then forwarded to our office and assigned to a team member. That team member will contact you if additional information is required.

RRRF – Community Futures Central Island


The Team at Community Futures