Community Futures West Yellowhead (CFWY) understands the challenges faced by the mountain parks community of Jasper because of the COVID-19 pandemic. As a result, CFWY is proud to offer a low interest loan that focuses on rent relief in the off-season to businesses affected by the decrease in revenues and visitors in the national park.
Small business owners (tenants only) can apply for the Jasper National Park Rent Relief Loan for up to $25,000 to support rental obligations from September 1, 2020 to September 1, 2021.
The Jasper National Park Rent Relief Loan provides supports to commercial tenants who have not received Canada Emergency Commercial Rent Assistance (CECRA), Canada Emergency Business Account (CEBA), Parks Canada rent relief programming or Regional Relief and Recovery Fund (RRRF) support for rental obligations from September 1, 2020 to September 2021. Clients who have received funds for rental obligations under these programs will have to provide documentation to show which expenses were covered by these funds related to their rent.
- Maximum Loan of $25,000
- 0% interest for first six months of loan
- Principal and interest repayments begin six months after the start of the loan at which point a rate of 4.5% will be charged as interest
- Principal payments can be made at anytime without penalty
- The full balance of the loan must be paid three years after the initial start date of the loan
Eligible uses for loan funding:
- Property Taxes
- Operational expenses related to a tenancy agreement in the place of business
Eligibility of businesses:
- As part of the terms and conditions of the Community Futures Program, Small and Medium Enterprises (SMEs) are defined as having less than 500 employees, an annual sales revenue of less than $200 Million, and produce goods and services for the market economy, regardless of their business structure (i.e. sole proprietorship, social enterprises, corporations, etc.).
- Businesses must have a written commercial rental agreement with their landlord. Home-based businesses are not eligible for this loan.
- Businesses must have a current business license in Jasper.
- Clients who are eligible businesses and have received funds under other federal government programs are not permitted to apply for the Jasper National Park Rent Relief Loan Program for the same expenses.