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The Government of Canada is making available an additional $500 million in support through the Regional Relief and Recovery Fund (RRRF) for small businesses that continue to suffer from COVID-related losses, with at least 25% of the funds earmarked for the struggling tourism sector.

This expanded funding allows the RRRF to continue to be a backstop for eligible firms, mirroring the support offered by other programs such as the Canada Emergency Business Account (CEBA) or the Business Credit Availability Program (BCAP) as they evolve to meet the needs of businesses. It is intended for businesses that do not qualify for funding from those sources and other federal COVID-relief programs such as the Highly Affected Sectors Credit Availability Program (HASCAP).

This financial support may be available to businesses that have sustained COVID-related losses since April 1, 2020 or if further losses are anticipated going forward.