ACOA launches new fund to help small businesses weather COVID-19 - Action News
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Nova Scotia

ACOA launches new fund to help small businesses weather COVID-19

The Atlantic Canada Opportunities Agency has launched a new $110 million Regional Relief and Recover fund for businesses and organizations that were unable to access existing relief measures.

A total of $110 million is available for Atlantic businesses unable to access existing relief measures

A total of $110 million will be available to help Atlantic Canadian businesses weather COVID-19. (David Laughlin/CBC)

Financial support is coming to Atlantic Canadian businesses struggling to weather the impact of theCOVID-19 outbreak.

On Wednesday, the Atlantic Canada Opportunities Agency launched aRegional Relief and Recover Fund(RRRF.) Businesses and organizations that are unable to access other existing measures can apply for the fund through ACOA.

A news release from ACOA indicates that many small businesses are still "falling through the cracks" and are ineligible for other forms of relief or federal support,particularly in rural and remote communities.

The RRRF is designed specifically for small- and medium-sized businesses insectors such as manufacturing, technology, tourism and others that are "key to the regions and local economies," according to the release.

A total of $110 million will be available for Atlantic Canadian businesses.

The funding is being delivered through the Regional Development Agencies.

In a news release, the federal government said those agencies are "best positioned to provide this additionalsupport because they work closely with communities across the country every day and are familiar with diverse local realities."

Those interested in applying can fill out the application form online.