Renfrew County Community Development Fund

🎁What Benefits Are Offered?

Non-repayable funding to support community economic development projects with up to 50% of eligible project costs.

📋What Are the Application Steps & Timeline?

📝Steps to ApplySource

• Click on the Loan Application button to access the business loan application.
• Submit your completed application with the loan application fee.
• A credit check will be conducted on all applicants.
• Supply any additional information requested.
• The Business Development Officer (BDO) will analyze your loan application and present a discussion letter.
• Loans are presented to the RCCFDC Investments Committee for approval.
• The BDO will contact you regarding the committee’s decision.
• If approved, you will receive a Letter of Offer outlining the terms and conditions.
• Upon acceptance of the Terms and Conditions, legal documents will be prepared.
• Once security documents are completed, funds will be disbursed.

🌐Application PortalSource

https://rccfdc.org/financing-funding/

📤Submission MethodSource

email

🔄Intake TypeSource

continuous

📄What Documents Are Required?

✅Required DocumentsSource

• Completed Loan Application
• Statement of Personal Assets and Liabilities
• Business Plan (or business model canvas)
• Cash Flow
• Signed Offer to Purchase (if purchasing land or building)
• Detailed listing of equipment and inventory
• Loan Application Fee
• Past 3 years’ financial statements (for existing businesses)
• Revenue Canada Statement of Business Activities (Form T2125)
• Revenue Canada Notice of Assessment (T2 for Corporations)
• Current HST Return for Registrants
• Confirmation that WSIB and Source Deduction payments are up-to-date
• Articles of Incorporation and/or Trade Name Registration

📐Format Requirements

PDF only, max 10MB

📥Templates AvailableSource

• Renfrew County Community Development Fund Application Form

💰What Expenses Are Eligible?

🧾Eligible ExpensesSource

• marketing and promotional activities
• tourism initiatives
• seminars/workshops
• technology and innovation projects
• research projects
• feasibility studies
• business plans

🚫Ineligible ExpensesSource

• wages of current staff
• costs of core operations
• operating costs of ongoing operations
• leasehold improvements
• construction
• repairs

📏Expense CapsSource

up to 50% of eligible project costs to a maximum of $5,000

💳Payment ModelSource

reimbursement

⏪Retroactive Expenses EligibleSource

No

🤝Is Matching Funding Required?

🔀Matching RequiredSource

Yes

📊Matching RatioSource

50%

🏦Eligible Matching SourcesSource

• cash
• in-kind

📚Stacking Rules

Not specified

🛡️Proof of Matching RequiredSource

invoices and proof of payment

📊What Are the Reporting Requirements?

🗓️Reporting FrequencySource

final only

📑Reporting RequirementsSource

• final claim
• final report
• invoices
• proof of payment

🔍Audit RequirementsSource

Applicants are required to maintain proper books and records of the costs of the project, including invoices and cancelled cheques

🗄️Record Retention PeriodSource

7 years