Photo: TOTA
Tourism operators are being offered micro loans to help ease their suffering during the pandemic downturn.
The Thompson Okanagan Tourism Association (TOTA) and Community Futures organizations across the region are collaborating to offer the financial assistance, as part of the Tourism Resiliency Program.
The program 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 President and CEO of TOTA, Glenn Mandziuk.
“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, TOTA and nine Community Futures offices in the region signed a formal agreement to rebuild a resilient tourism industry in the wake of the pandemic.
The 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.
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