Microloans Are Part Of Tourism Resiliency Program
KELOWNA – The Thompson Okanagan Tourism Association (TOTA) is collaborating with Community Futures organizations across the region to assist in providing financial support to the tourism sector as part of the Tourism Resiliency Program.
The Community Futures and TOTA taskforce is announcing the “Thompson Okanagan Tourism Micro Loan Program”, an initiative spearheaded by all nine Community Futures’ organizations located in TOTA’s region, which will offer micro loans to tourism businesses starting at $200 and up to $25,000.
“This new initiative represents a pivotal moment for the regional tourism sector as well as another important evolution of our work in helping the industry recover and become more resilient for the long term,” said Glenn Mandziuk, President and CEO of TOTA. “The program will address the immediate need to mitigate financial impacts associated with additional costs and losses tourism businesses have been facing as a result of the COVID-19 Pandemic.”
In July 2020, the Thompson Okanagan Tourism Association (TOTA) and nine Community Futures offices in the region signed a formal agreement, committing to the development of an active and meaningful relationship on the path to rebuilding a resilient tourism industry in the wake of the global Pandemic.
“Community Futures is in the business of assisting small business across the region, the province and Canada. We have been a part of your community for over 35 years and we continue to support you with advice, training and loans,” said Rob Marshall, Executive Director for Community Futures Shuswap and Community Futures Provincial Board Member. The Thompson Okanagan Tourism Micro Loan Program is another example of partners working together to provide help in times of need to our essential tourism industry.”
The Community Futures and TOTA taskforce is working to implement projects, access needed resources, and share best practices to revitalize, support, and grow the tourism sector, during the pandemic and beyond. Efforts and strategies are focused on tourism growth, development, sustainability, and long-term resiliency.
The “Thompson Okanagan Tourism Micro Loan Program” is in alignment with the previously announced Regional Relief and Recovery Fund (RRRF) program which has, to date, provided $587,000 to 20 tourism businesses in the region.
Applicants to the program must be referred to Community Futures by a Tourism Resiliency Program Advisor and terms and conditions specific to each location apply.
For more information about the the Thompson Okanagan Resiliency Program and to register Click Here.