COVID-19: North Okanagan businesses get a boost

COVID-19: North Okanagan businesses get a boost

Community Futures provides emergency loans

When Darren Bezanson had to shut down the seating inside his Armstrong restaurant due to COVID-19 social distancing requirements, he knew who to call.

Worried about how he was going to pay his staff and suppliers, the owner and chef of Fairways Bistro and Catering contacted Scot McNair, Business Loans Advisor at Community Futures North Okanagan.

“I wanted to see if I could get extra funding and get my staff paid and bills up to date, and what the process of that was going to look like,” Bezanson says.

McNair was able to help Bezanson access funding through CFNO’s new Emergency Loans Relief Program, which assists businesses in getting through the COVID-19 economic slowdown with business loans of up to $25,000.

With flexible terms and payment schedules, CFNO’s Emergency Loan Relief Program is different from the Canadian government’s emergency business loans program, says McNair. While the government program is interest-free, it has several requirements that some businesses can’t meet, including a minimum $20,000 payroll.

“The Community Futures program offers interest and payment-free loans for the first 90 days to help businesses get through the initial period and to a place where they can start back up again. The interest rate remains low for the remainder of the payback period. It’s a good fit for anyone who needs a bit of flexibility.”

Having received support and services from CFNO since he opened his business six years ago, Bezanson says CFNO’s Emergency Loan Relief couldn’t have come at a better time.

“There was no hesitation. The turnaround time to receive the funds took less than a week. Scot stepped right up and went to bat for us. The loan has allowed for us to continue to function and stay afloat,” says Bezanson.

While reopening his restaurant to public seating may take a while, Bezanson has been able to continue a takeout food and beverage service as well as a delivery service, thanks also to support from the Armstrong Spallumcheen Chamber of Commerce.

“Having business support and organizations such as Community Futures that have your back has been a huge load off,” he says.

CFNO is also helping small businesses navigate COVID-19 with support services such as virtual regional roundtables through #NOKTogether, as well as with one-to-one telephone or virtual meetings for business coaching and advice, and updated resources and information through its social media channels.

READ MORE: COVID-19: Online roundtable sessions to help North Okanagan businesses

For more information or to inquire about Community Futures North Okanagan’s Emergency Loan Relief Fund, contact Scot McNair at ­­­­250-545-2215 Ext. 249 or fill out the form available at http://www.futuresbc.com/independent-business-loan-inquiry/.

READ MORE: Community Futures steps up online services for Vernon job seekers


@VernonNews
newsroom@vernonmorningstar.com

Like us on Facebook and follow us on Twitter.

BusinessCoronavirusSmall Business

Just Posted

(Dave Ogilvie photo)
One injured after being pinned by fallen forklift near Peachland

West Kelowna emergency crews responded to reports of a person stuck under a forklift

(Big White Ski Resort/Contributed)
Big White’s big clean-up: Large turnout for post-melt mountain tidy

More than 165 people showed up to help gather the litter left behind from the winter season

Mounties cover a burgundy truck with a tent at Buckerfields in West Kelowna on Monday, June 14. The RCMP is investigating after a woman’s body was found inside the truck. (Amandalina Letterio/Capital News)
West Kelowna RCMP investigating suspicious death after body found in truck

Police responded to a truck parked out front of a Main Street business where the body was found

(Jenna Cocullo / The Northern View)
Delays expected on Lakeshore Road this week

Northbound traffic on Lakeshore between Richter and Barrera will be detoured for paving

David Larsen, left, and co-host Tony Peyton. (K96.3/Twitter)
Popular Kelowna radio host dies after battle with cancer

David Larsen was half of the longtime Kelowna morning-show duo David and Tony

Singer-songwriter Jann Arden is pictured with a draft horse. (Canadian Horse Defence Coalition)
Jann Arden backs petition to stop live horse export

June 14 is the International Day to End Live Export of Animals

Montreal Canadiens goaltender Carey Price (31) is scored on by Vegas Golden Knights defenseman Alec Martinez, not pictured, during the second period in Game 1 of an NHL hockey Stanley Cup semifinal playoff series Monday, June 14, 2021, in Las Vegas. (AP Photo/John Locher)
Habs fall 4-1 to Vegas Golden Knights in Game 1 of NHL semifinal series

Match was Montreal’s first game outside of Canada in 2021

Penticton Overdose Prevention Society co-founders Desiree Franz, Shane Surowski and Stephanie Lines have created the city’s first unsanctioned public overdose prevention site using an old wine-tour bus. The site began operations in June 2021. (Desiree Franz/Facebook)
Volunteers launch Penticton’s first public supervised injection site

2021 is on pace to be the deadliest year for overdoses in Penticton on record

Kelowna-Lake Country MLA Norm Letnick, assistant deputy speaker at the B.C. legislature, presides over committee discussions. The legislature is completing its delayed spring session this week, with most MLAs participating by video conference. (Hansard TV)
B.C.’s daily COVID-19 infections dip below 100 over weekend

Only 68 new cases recorded Monday, four additional deaths

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

B.C. ambulance station in Revelstoke is expected to get a new system called the Scheduled On-Call (SOC) this fall. (Liam Harrap - Revelstoke Review)
B.C. ambulance changes could put Revelstoke residents at risk, warn local paramedics

Paramedics said to expect a substantial increase in ambulance response time starting this fall

Jane Linden
KCR: Volunteering keeps you active

Kelowna Community Resources shares stories of its volunteers in a weekly column

This goose family went for a leisurely stroll down Vernon’s Main Street Saturday, April 25. (Dave Deshane photo)
Controversial Vernon goose cull won’t fly this year

Necessary permit procedures held up at a federal level

The BC Ferries website went down for a short while Monday morning following a provincial announcement that recreational travel between health authorities can resume Tuesday. (Black Press Media file photo)
BC Ferries’ website crashes in wake of provincial reopening announcement

Website back up now, recreational travel between health regions to resume as of Tuesday

Most Read