LOWBIC is offering new loans with ENHANCED eligibility criteria through the Regional Relief and Recovery Fund (RRRF) and may be able to help your small business if you have been adversely affected by COVID-19.
If you have applied for other government funding and have been assessed as ineligible, you may still qualify with us for up to $40,000 with the potential for 25% forgiveness on your loan up to a total of $10,000.
If you have applied and received other government funding, you may qualify for more from us if your needs are greater than the amount received.
Payments are not required and loans are interest free until December 31, 2022.
NEW LOAN for Businesses affected by COVID-19
Please see attached letter. We are offering a new loan through the Regional Relief and Recovery Fund (RRRF) and may be able to help your small and medium sized business adversely affected by this crisis if you are ineligible for or have applied and be turned down for funding through CEBA or other special funding.
NEW LOAN – RRRF
INFO from FedNor – RRRF
COVID-19 response to NEW and EXISTING clients
Please view this letter from Ryan Reynard, Executive Director to learn what LOWBIC is offering to assist eligible small and medium sized businesses in our area in this time of crisis.
COVID-19 Response Letter
COVID-19 – Message to our Active Loan Clients
LOWBIC will be suspending both interest and payments beginning March 20, 2020 for the next 2 months for our loan clients. We will continue to review this matter over the next 4-6 weeks with the possibility of extending this specific measure even further.
Clients who do not wish to have interest and payments suspended please email Samantha Smith (email below or click Contact Us) and we will continue regular payments for your specific loan.
We understand that this is not the final answer, but at least will provide short-term relief with regards to your LOWBIC loan and help you address the significant challenges presented by the COVID-19 situation.
How To Begin:
- Sam Smith, Business Development & Loans Officer
Phone: (807) 464-1116 | Email: [email protected]