The Orillia Area CDC has provided $2.3 million in liquidity support to help 59 businesses impacted by the pandemic to cover fixed operating costs and maintain 140 jobs.
The Community Development Corp says one example of support provided was to local eco-tourism business, Glen Oro Farm, which has been able to sustain its operations and is thankful for the support.
Business owner Luke Sedgwick noted, “Last spring we were hit with the realization that the construction plans we had for our Glamping Eco-Retreat would need to be significantly altered to keep guests safe during the pandemic. The Orillia Area CDC was like a light in the dark, illuminating the confusing funding and loan options that appeared on the scene—guiding us through exactly what we needed in a timeframe that was unbelievably fast.”
Since May 2020, $436.4 million has been made available under the Regional Relief and Recovery Fund to southern Ontario businesses through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), including $83.3 million in targeted rural support delivered by Community Futures Development Corporations (CFDCs), of which the Orillia Area CDC is one.