MRC PONTIAC – Over the coming days, the Pontiac SADC (Community Futures Development Corporation) will be able to start deploying over $1 million to local businesses to help them cope with the difficult realities COVID-19 has created. The government announced the three Ouatoauis SADCs will receive a total of $3.1 million on May 25, which is part of the $71.3 million awarded to SADCs and Community Business Development Corporations (CAEs) across Québec through the federal government’s Regional Assistance and Recovery Fund.
While exact details aren’t officially available about how the funds will be deployed to businesses, Rhonda Perry, director of the Pontiac SADC, was able to provide a bit of information.
“It will be offered in the form of loans with great terms, up to a maximum of $40,000. We also have funds to help businesses receive expertise and advice from a
consultant regarding COVID-related issues (reinvent, implement safety measures, look at different options and technologies to keep operating in a new reality, etc.). The expertise services will be contributions to the businesses and not loans,” she explained.
The SADC and CAE network will also be able to implement or collaborate in visibility initiatives for businesses and local purchasing promotions.
After the government announced in April that it would be providing $962 million in additional financial support to Canadian businesses in light of the COVID-19 crisis ($287 million for Réseau des SADCs), representatives of the SADCs united to determine gaps in current government aid programs and how the funds should be dispersed.
“Many discussions [and collaborations with the government and Canada Economic Development for Québec Regions] have paid off. We were listened to and the procedures in place target the problems companies expressed to us on the ground,” concluded Daniel Dumas, President of the Réseau des SADC et CAE.