This program is designed specifically for businesses like yours that have been directly impacted by Hurricane Fiona. It offers financial relief to help you recover and restore economic activity. The fund covers costs that other federal or provincial programs might not, ensuring you get the support you need.

Key Benefits:

• Financial support for clean-up and renovations
• Restoration of essential community and tourism assets
• Acquisition of necessary fishing and aquaculture equipment
• Planning activities for climate resiliency

This funding is more advantageous than other options because it is backed by the government and tailored to address the specific damages caused by Hurricane Fiona. Approval will provide you with the resources to rebuild and better prepare for future natural catastrophes, ensuring your business can thrive again. The qualification process is straightforward, making it easier for you to access the support you need.

Type of Financing:

• Repayable Sum: The Hurricane Fiona Recovery Fund offers repayable sums to eligible clients to cover costs not addressed by existing federal or provincial programs.

Repayment Terms and Interest Rates:

• Repayment Period: Funding applications will be evaluated case by case, with the program in effect until March 31, 2025.
• Interest Rates: The specific interest rates and repayment terms will be determined based on individual project assessments.

Eligible Expenses:

• Cost Coverage: Eligible costs include expenses incurred directly after Hurricane Fiona to recover and restore economic activities, retroactively eligible from September 23, 2022.
• Examples of Eligible Expenses: Cleanup and renovations, restoration of community assets, acquisition of equipment, planning for climate resiliency, and support for damage assessment and recovery planning.

Ineligible Expenses:

• Exclusions: The funds cannot be used for loss of earnings, non-essential costs unrelated to the project, refinancing existing debts, acquiring assets above fair market value, amortization expenses, or client-related expenses.

Fees:

• No Fees: There are no specific fees mentioned in the program details, indicating that there may not be any fees associated with applying for or receiving funding under the Hurricane Fiona Recovery Fund.

This program offers financial support to help your business recover from the impacts of Hurricane Fiona. You can receive funding to cover costs that other federal or provincial programs do not cover. This includes expenses like clean-up, renovations, and replacing damaged equipment.

The fund provides up to $300 million to support businesses and communities in eastern Quebec. The money can be used for various recovery activities, such as restoring community assets, acquiring new equipment, and planning for future resilience.

The funding is available until March 31, 2025, and each application is assessed individually. This means you can get the help you need to get back on your feet and prepare for the future.

1. Gather Required Documentation:

• Financial statements
• Proof of losses or damage due to Hurricane Fiona
• Documentation of exhausted financial support from insurance and provincial relief programs
• Business plan outlining recovery and restoration activities

2. Prepare a Detailed Project Proposal:

• Describe the project and its objectives
• Explain how the project will help recover and restore economic activity
• Include a budget with justifiable and reasonable costs

3. Contact CED for Guidance:

• Reach out to CED for any clarifications or additional information needed
• Use the contact information provided on the CED website

4. Complete the Application Form:

• Fill out the application form available on the CED website
• Ensure all sections are completed accurately

5. Submit the Application:

• Submit the completed application form along with all required documentation
• Follow the submission instructions provided on the CED website

6. Await Review and Feedback:

• CED will review the application on a case-by-case basis
• Be prepared to provide additional information if requested

7. Approval and Funding:

• If approved, discuss the final terms and conditions of the funding
• Upon agreement, the funds will be disbursed to support your recovery efforts