Does your business need help weathering the COVID-19 storm?
The Muskoka Business Recovery Fund (MBRF) is available to small businesses in Muskoka and is intended to help support non-deferrable operating costs (rent, utilities, wages etc). MBRF Loans will be established at 0% interest and no payments are required until December 31, 2022. Principal repayments can be voluntarily made at any time. A portion of the loan may be forgiven provided the recipient has paid the required percentage of the original loan amount prior to December 31, 2022. If the recipient is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with interest rates not to exceed 5%, effective January 1, 2023. The full balance must be repaid no later than December 31, 2025. Further details regarding the forgivable component of the loan (if applicable) will be provided during the review process.
You can apply for the Muskoka Business Recovery Fund here and email supporting documents (Master Business License or Articles of Incorporation, Financial Statements or T2125-Statement of Business Activities from 2019 income taxes, copy of Photo ID) to firstname.lastname@example.org.
Do us a favour, if you have questions about qualifying, please email us! We would rather have a chat with you, than for you to miss out on support that may be available to you. We are here to help!
This fund is supported by FedNor and the District of Muskoka