Regional Relief and Recovery Fund

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 southern Ontario, $252.4 million is available as follows:

  • $213 million for SMEs facing financial pressure; and
  • $39.4 million to provide rural businesses with access to capital and technical support, delivered by southern Ontario’s Community Futures Development Corporations.

Funding available through Trenval

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.
  • Please review the Trenval Program Guidelines for other eligible costs and local priorities

Applications can be submitted for:

  • Loans of up to $40,000 to help address working capital needs.

Next steps:

  1. Review the Trenval RRRF Guidelines for full program details.
  2. Complete the RRRF Application Form.  Save the document with your business name in the file name
    • You may sign it digitally or print, sign and scan.
  3. Gather the supporting information – see the required information in the application.
  4. Email all the documents to
  5. Review Frequently Asked Questions here

Note: In order for us to review your application, all required documents must be submitted.


The RRRF seeks to support southern Ontario SMEs to address gaps in or supplement other federal relief measures, as well as complement those provided by other levels of government.

In particular, the RRRF seeks to provide support to southern Ontario SMEs that:

  • Do not qualify for, or have been rejected from, current Government of Canada COVID-19 relief measures.

Scope and Objectives

The RRRF, delivered by Trenval Business Development Corporation (Trenval) (Trenval CFDC), will provide financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic


Eligible Applicants

  • A registered business located in the City of Belleville, City of Quinte West, Tyendinaga Township, Stirling-Rawdon, Deseronto or Tyendinaga MBQ;
  • Facing funding pressures with fixed operating costs, as a result of the COVID-19 pandemic;
  • Have applied to other Government of Canada COVID-19 emergency credit relief measures, for which they are eligible, including:
    • Canada Emergency Business Account (CEBA);
    • Business Credit Availability Program (BCAP);
      • BDC Co-Lending Program
      • EDC Loan Guarantee Program
    • BDC Working Capital Loans;
    • Other applicable targeted and sector-specific COVID-19 programs (e.g., funding for Indigenous entrepreneurs, Farm Credit Canada);
  • Planning to continue to operate its business or resume operations; and
  • A viable business before the COVID-19 pandemic.
  • Ineligible Applicants

    • Government organizations or bodies, or entities owned by a government organization or body;
    • Unions, charitable, religious or fraternal organizations or entities owned by such an organization;
    • Entities that are structured as a holding company; and
    • Entities owned by individuals holding federal or provincial political office.

    Eligible Activity

    SME funding support for fixed operating costs, where business revenues have been affected by the COVID-19 pandemic.
    Eligible Costs
    May include:

    • Capital lease payments for existing equipment and machinery;
    • Salaries and benefits
      • Will only be considered for support if the business is not eligible or declined support from the Canada Emergency Wage Subsidy or the NRC-IRAP- Innovation Assistance Program for pre-revenue businesses;
    • Property taxes;
    • Utilities;
    • Bank charges and interest payments;
    • Professional fees;
    • Monthly insurance payments;
    • Rent;
      • Applicants are expected to pursue with their landlord access to the Canadian Emergency Commercial Rent Assistance (CECRA) for small businesses (details on CECRA will be available mid-May); and
    • Other fixed operating costs applicable to the applicant.
    Ineligible Costs

    • Any costs deemed not reasonable and/or not directly related to a business’ fixed operational expenses
    • Monthly mortgage and loan payments;
    • New capital expenditures;
    • Refinancing of an existing debt;
    • Costs of amortization and goodwill; and
    • Acquisition of land and buildings.


    If there is significant demand for the funding available, priority may be given to SMEs within our catchment area that:

    • Have been in operation for 2 years or more;
    • “Main street” businesses such as retail shops, restaurants, coffee shops, florists, dry cleaners, auto repair and salons;
    • Have a personal credit history that can be measured to determine your personal financial health. The maximum eligible loan amount will be based on this measure. Find out more about your credit report and score basics;
    • Support the government’s commitment to inclusive growth (i.e., women, Indigenous peoples, youth, persons with disabilities, visible minorities, newcomers, LGBTQ2) and Official Language Minority Communities.

    Application process

    Applications for funding are accepted on an ongoing basis with no submission deadlines, until the Fund is fully committed.

    To Apply:

    1. Complete Trenval RRRF Application Form
    2. Submit all required documents

    One application for funding per applicant is permitted. Multiple and concurrent applications for the same applicant will not be considered.

    Electronic signatures will be accepted on all application documents and loan security documents.

    Application review

    Trenval will review applications as they are received.

    All applications will be screened initially for completeness. Incomplete applications will not be assessed and will be considered ineligible for funding.
    Applicants with incomplete applications are permitted to re-apply with completed applications including all required documentation.

    Complete applications are those that include all prescribed documentation containing all information needed for Trenval to complete the review. Information should be accurate, verifiable, relevant and consistent. Complete applications will undergo a due diligence process where they are assessed against a number of factors.

    Assessment criteria include, but are not limited to:

    • Impact of COVID-19 pandemic on business operations;
    • Availability of other financial supports (e.g., access to credit at a financial institution and other federal COVID-19 measures);
    • Viability of the applicant (i.e., ability to repay the contribution);
    • Economic benefits of RRRF support;
    • Priorities as outlined.


    An interest-free loan with condition for partial forgiveness of contribution amount.

    No payments required until December 31, 2022, but applicant can opt to make payments anytime between January 1, 2021 and December 31, 2022.

    Up to 25 percent forgiveness is available, provided 75 percent, or up to $30,000 is paid back by December 31, 2022.

    If 75 percent of the contribution amount is not repaid by December 31, 2022, the balance owing will be converted to an additional three-year interest bearing loan at 5% (fixed repayment schedule), beginning January 2023, with no forgivable portion.

    The full balance of the contribution amount must be repaid by no later than December 31, 2025.

    If an Application for Funding is approved, an Offer to Finance, Promissory Note, General Security Agreement and Personal Guarantee(s) if incorporated will be executed between the Applicant and Trenval Business Development Corporation.

    Approved contributions will be disbursed through a single advance payment following receipt of the executed documents.

    Loan Security

    All approved applications will require the following loan documentation to be signed:

    • Offer to Finance
    • Promissory Note
    • General Security Agreement
    • Guarantee(s) if incorporated


    All approved SMEs will be required to submit a quarterly online survey beginning in January 2021, until full repayment of the loan. This survey will assist Trenval in measuring the local impacts of COVID-19 over the duration of the loan and may include:

    • Narrative describing how the contribution received has mitigated the impacts of COVID-19 on the SME;
    • Number of jobs maintained as a result of the contribution received;
    • Confirmation that the SME is continuing its operations; and
    • Other metrics as may be requested by Trenval or FedDev Ontario.

    The SME must also submit a copy of their financial statements within one hundred and eighty (180) calendar days of their fiscal year.

    Additional/Alternate Funding Options

    Should you be interested in a loan greater than $40,000 and meet the following eligibility criteria, you may wish to apply to FedDev Ontario for direct funding.

    Funding available through FedDev Ontario

    FedDev Ontario is delivering $213 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.

    Eligible applicants must:

    • Be a Canadian or provincially incorporated business, co-operative or an Indigenous-owned business located in southern Ontario with 1 to 499 full-time equivalent employees;
    • Be facing funding pressures with fixed operating costs as a result of COVID-19;
    • Have been a viable business before the COVID-19 pandemic and plan to continue to operate their business or resume operations.
    • Have already applied to other Government of Canada emergency credit relief measures for which they are eligible, as outlined in the program guidelines.

    For the RRRF funding provided directly by FedDev Ontario, priority may be given to SMEs that fall within the manufacturing, technology, tourism and other sectors key to the region, that are major employers in small communities, or that support the government’s commitment to underrepresented groups.
    For more information, please visit the FedDev Ontario website and consult the Applicant Toolkit.
    Please note: Applicants will not receive RRRF assistance from both their local CFDC and FedDev Ontario. Review the program guidelines to see which stream is right for you and contact FedDev Ontario if you have any questions before applying.

    Frequently Asked Questions

    Review Frequently Asked Questions here