Community Futures Nicola Valley Board of Directors
To learn more about becoming a Director with Community Futures Nicola Valley and receive an application form, click below:
Community Futures Nicola Valley and eight other Community Futures offices in the Thompson Okanagan region are working in partnership with the Thompson Okanagan Tourism Association (TOTA) to assist the tourism industry in overcoming the challenges presented by the current COVID-19 crisis through the Thompson Okanagan Tourism Resiliency Program. In July 2020, a formal agreement was formed to create the Community Futures - TOTA Taskforce in commitment to the development of an active and meaningful relationship on the path to rebuilding a resilient tourism industry in the wake of the COVID-19 pandemic.
The Community Futures - TOTA Taskforce is now offering the Thompson Okanagan Tourism Micro Loan Program for tourism businesses in the Nicola Valley area.
The Thompson Okanagan Tourism Micro Loan is in alignment with the previously announced Regional Relief & Recovery Fund (RRRF) which has provided $587,000 to more than 20 tourism businesses in the region, as of August 2020.
Micro loans start at $200, up to $25,000. Terms and conditions apply which are specific to each Community Futures office.
To apply for a Tourism Micro Loan, tourism stakeholders must be referred to a Community Futures office by a Thompson Okanagan Tourism Resiliency Program Advisor.
The Tourism Resiliency Program offers many benefits, with no cost to participate. Participating companies will receive ongoing support from an advisor through one-on-one phone or video meetings. The advisor will develop a Business Support Plan and provide key updates to programs and services.
or register by phone: 1-877-431-8489 (ext 8)
The Community Futures - TOTA Taskforce will implement projects, access needed resources, and share best practices to revitalize, support, and grow the tourism sector, during the pandemic and beyond. Efforts and strategies will focus on tourism growth, development, sustainability, and long-term resiliency.
Helping the tourism industry recover and become more resilient for the long term is imperative. Ongoing exchange and discussion will facilitate further advancement of best practices relating to the development of sustainable communities and destinations. Specific joint strategies will target identification and support of business funding opportunities as well as advancing knowledge on the visitor experience, training, employment, and innovation.
Please note the updated deadline time for RRRF applications - at 4:30PM Pacific Time the application portal for the Regional Relief and Recovery Fund will close and no further applications will be accepted - pending and submitted applications will continue to be processed until June 30, 2021. This deadline cannot be altered in any way. If you're pursuing or considering RRRF and are unsure of your ability to complete an application before the deadline, please contact CFNV Staff.
The Government of Canada and Community Futures organizations (CFs) understand the difficulties the COVID-19 pandemic has caused the small business community throughout the West. As a result, the Government of Canada has made funds available to the CFs to provide support and assistance to SMEs through the rural stream of the Regional Relief and Recovery Fund (RRRF).
Small business owners impacted as a result of the COVID-19 pandemic can apply for loans up to $60,000 through the Regional Relief and Recovery Fund (RRRF). Those who are already clients of the original $40,000 RRRF loan can now apply for an additional $20,000.
The Regional Relief and Recovery Fund provides funding to support businesses that have not been approved for supports through the Canada Emergency Business Account (CEBA) or the Emergency Loan Program delivered through Aboriginal Financial Institutions.
Small and Medium-Sized Enterprises (SMEs) located in
Aspen Grove, Brookmere, Douglas Lake, Lower Nicola, Upper Nicola, Merritt and Quilchena. In addition, SME’s located in the following Bands that include: Lower Nicola Indian Band, Upper Nicola Indian Band, Shackan Indian Band, Nooaitch Indian Band, and Coldwater Indian Band.
The funds from this loan shall only be used by the Borrower to pay non-deferrable operating expenses of the Borrower including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation. Note that funds from this loan cannot be used to pay expenses already supported through the Canada Emergency Wage Subsidy or the Canada Emergency Commercial Rent Assistance.
Small-and-medium sized enterprises (SMEs) and Social Enterprises taking into account the following:
Toll Free: 1-888-338-9378
This virtual business session was held on Thursday, May 7th, 2020, following a survey conducted by Community Futures Nicola Valley, the City of Merritt and the Merritt & District Chamber of Commerce, to discuss the current impact of COVID-19 in the area.