NOTO has provided a comprehensive guide for businesses offering meal and accommodation services. To download click the link below.
For access to all the Destination Northern Ontario Webinars go to:
Check in here regularly to access information that will assist you with your current business or if you are looking to establish or purchase a business in Pickle Lake.
LOAN PROGRAM FOR COVID AFFECTED BUSINESSES THAT DO NOT QUALIFY FOR THE OTHER PROGRAMS AVAILABLE THROUGH PACE
Please see the below funding announcement. Interested businesses can contact PACE’s Business Development Coordinator, Noreen Cox at firstname.lastname@example.org or by visiting https://www.pace-cf.on.ca/contact
To be eligible for PACE’s stream, businesses will need to have been established and viable prior to March 1, 2020. They will need to demonstrate that they have been impacted by COVID-19. Businesses will need to have fewer than 500 employees, annual sales revenue of less than $20 million, and provide goods and services for the market economy. Businesses will also need to have attempted to access other COVID-19 relief measures like CEBA, AFI, etc.
The RRRF loans offered will include the following terms:
- 0% interest until December 31, 2022.
- No principal payments until December 31, 2022.
- Principal repayments can be voluntarily made at any time.
- 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022.
- If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a term loan at up to 5% annual interest. Effective January 1, 2023.
- The full balance must be repaid no later than December 31, 2025.
- No security will be required.
DESTINATION NORTHERN ONTARIO WEBINAR SERIES
The following Link will take you to Destination Northern Ontario’s Webinar Channel where you will find a rich resource of information generated from their Adapt 2020 series. While mostly relating to Covid-19, there are a number of sessions that are applicable to ongoing operation (exclusive of the challenges arising from the pandemic).
The New Normal way of Operating – Dealing with Cleanliness and Distancing in your Business for the long term.
I recommend all business owners watch this webinar to ensure they are complying with regulations and meeting staff and customer’s needs for meeting safety requirements.
Succession Planning – Are you a Buyer or a Seller? Even if you plan to retire of sell “someday”, I highly recommend you watch this webinar and begin your succession plan. Lots of resources are outlined to assist both buyer and seller to ensure a smooth and successful transition.