City Grant Continues to Support Businesses Through Recovery Approximately $1 Million in Grant Funding Remains Available
Nearly $1 million has been distributed to local businesses through the Regina Economic Recovery Grant (RERG) program. An additional 41 businesses have received funding since late January to assist in reshaping products and service and transforming business operations through COVID-19 recovery. To date, 226 local businesses have been awarded funding totalling $965,500.
In December 2020, the grant program began offering matching grants of up to $25,000. So far, 15 businesses have received that maximum amount. Fourteen $10,000 grants have been awarded and the remainder of funds distributed have been matching grants of $5,000, $2,500 and $1,000.
Accommodation and food service businesses account for the highest number of successful applicants with 67 grants awarded. Thirty-six grants have been given to retail businesses. Recipients have been able to use the RERG funds for projects such as purchasing delivery vehicles to respond to increased online ordering, expanding their physical business or purchasing equipment to facilitate online business.
The amount of funding awarded is based on how well an application aligns with core criteria of the RERG program. For example, applicants are required to explain how the funding will help people return to work or create new positions, help keep the business open, allow for new products or business diversification, transform a business operation, allow other funding to become available, make a significant community impact and respond to COVID-19 requirements.
The more criteria an application aligns with, the larger the amount of matching funds that an applicant can receive. A full list of criteria can be viewed at Regina.ca/recovery.
Applications are to be submitted online. A new intake period begins every Tuesday, enabling the City to process applications and award funding in a timely manner, typically no more than two weeks after all applications are completed and verified.
Visit Regina.ca/recovery to apply or learn more information about the Regina Economic Recovery Grant.