Not surprisingly, tourism businesses are applying for new federal funding.
Tourism is the most popular sector for the FedNor Regional Relief and Recovery Fund.
Brent Lundy is the local Initiative Officer and admits uptake for the relatively new program has been fairly light so far.
“We’re a few weeks into the program now,” says Lundy, “Mostly subscribed to by the tourism sector. We haven’t had as many applications as we expected, but the size of the application has been larger.”
He explains that compared to their usual loans and grants programs, this is actually pretty easy to access.
“We’ve tried to make the application process as streamlined as possible, as well as the due diligence process. We’re not following our normal due diligence process, which can be cumbersome and time consuming,” Lundy says.
Lundy adds that the program is all done on-line and they hope to have the money flowing from the fund by the end of this month.
