Recovery program to aid Peace River businesses

Applications will open in May

Susan Thompson
South Peace News

Businesses in Peace River struggling to survive in the midst of the pandemic will be able to get some help through a new recovery program.

The program will have up to three phases and will open for applications in May.

The Town of Peace River will contribute $75,000 of funding to the program, with Community Futures Peace Country contributing an additional $10,000.

The Peace River and District Chamber of Commerce will assist with marketing of the program.

The new support was developed with the help of Randy Hodgkinson at Community Futures and will offer individualized coaching and planning as eligible businesses work with an advisor to assess their needs.

In order to be eligible for the program, a business will need to have been established before March 1, 2020 and have a valid Town of Peace River business license or Peace River and District Chamber of Commerce membership. The business will need to have been financially viable before the COVID-19 pandemic but have been negatively impacted by the pandemic.

Phase 1 will accept up to 50 businesses which are eligible to receive up to 10 hours of coaching and other supports at up to $500 each.

In phase 2, 25 businesses who have completed Phase 1 will receive an additional 20 hours of coaching at up to $1,000 each.

Businesses will then be accepted into any third phase on a case by case basis and may receive a one-time covid recovery grant determined in consultation with town council.

“While this proposal represents a significant and much-needed hand up to the local business community, it also provides an amazing opportunity for the Town to take a prominent and active role in our community’s recovery from this unprecedented pandemic,” Hodgkinson says in a letter to council.

More details on the application process will be released soon.

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