Regional Relief and Recovery Fund
The Regional Relief and Recovery Fund (RRRF) was a federal liquidity assistance program for businesses affected by COVID-19 that had been rejected by, or were unable to access, other federal pandemic support programs, or that continued to have liquidity needs. ACOA describes repayable or conditionally repayable contributions to businesses, and PacifiCan interest-free repayable funding.
A seller may hold funding from this program, and a buyer can meet it in the debt schedule. ACOA describes it as a liquidity lifeline and says the fund is closed to new applications. PacifiCan describes interest-free repayable funding and says applications are no longer being accepted.
What the agency pages say
- ACOA says contributions to not-for-profit organizations are non-repayable, while businesses may receive repayable or conditionally repayable contributions.
- ACOA says repayment terms and timelines are detailed in the contribution agreement.
- PacifiCan describes its funding as interest-free and repayable.
What to ask
Neither page says what happens to the funding when a business is sold, so do not assume it ends or transfers. Ask for the contribution agreement and what it says about a change of ownership, and ask the agency that signed it. This entry draws on ACOA and PacifiCan pages only. See stacking CSBFP, BDC and credit union loans and the CEBA loan entry.
Sources
This definition is checked against primary sources. Links were last confirmed on the dates shown.
- 01Atlantic Canada Opportunities AgencyGovernmentRegional Relief and Recovery Fund (RRRF)
- 02Pacific Economic Development CanadaGovernmentRegional Relief and Recovery Fund (RRRF)
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