Community Futures and similar rural and regional development agencies are getting an additional $962 million in federal government funding to help with their response to COVID-19.
Community Futures Sunshine Coast has already been offering emergency loans of up to $25,000, top-ups on loans to current clients and deferred payments.
The organization helps small businesses that do not have a traditional relationship with a financial institution, such as small-scale tourism operators.
In an April 20 conference call with members of the business community and West Vancouver-Sunshine Coast-Sea to Sky Country MP Patrick Weiler, Community Futures executive director Janice Iverson said the organization had about $750,000 remaining in its investment fund.
Weiler said the details of how the new funding will flow down to the development agencies, how much will be allocated for Community Futures Sunshine Coast, and whether it will all go to topping up the pool of loan money available or be directed to specific programs are still being worked out.
