The Thompson Okanagan Tourism Association (TOTA) has announced a collaboration 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 “Thompson Okanagan Tourism Micro Loan Program” is an initiative spearheaded by all nine Community Futures’ organizations located in the TOTA region, and will offer micro-loans to tourism businesses. These loans will start at $200 and can be as high s $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 a 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, 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.
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 Thompson Okanagan Resiliency Program and to register visit www.totabc.org or register by phone: 1-877-431-8489 (ext 8).