Atlantic Canada Opportunities Agency (ACOA)  Urban Main Street Recovery Fund (UMSRF)

CEED is a provider of the Atlantic Canada Opportunities Agency (ACOA) Regional Relief and Recovery Fund (RRRF) for “main street businesses” called The Urban Main Street Recovery Fund (UMSRF)

This loan is to be used to finance the everyday operations of a business such as sales and marketing, product development, wages and other activities for businesses such as retail shops, restaurants, corner stores, etc., and businesses of strategic importance to the community.

General Details:

  • Maximum loan of $40,000
  • 0% interest until December 31, 2022;
  • No principal payments until December 31, 2022;
  • Principal repayments can be voluntarily made at any time without penalty;
  • 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022;
  • If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a term loan effective January 1, 2023; and,
  • The full balance must be repaid no later than December 31, 2025.


  • The business has attempted to access other relief federal supports and was ineligible or rejected such as the Canada Emergency Business Account (CEBA).
  • The business must have been established before March 01, 2020.
  • The business must have been adversely impacted because of the COVID-19.
  • The business office must be located within boundaries Halifax, Dartmouth and Bedford.
  • Assistance maybe provided to sole proprietorships, partnerships, incorporated companies and cooperatives.
  • The Applicant must be the majority shareholder of the business and have the authority to bind the business.

Eligible Costs

Eligible costs include costs that will help to stabilize businesses to mitigate impacts of COVID-19 and which are not covered by other COVID-19 relief measures. These costs may be eligible as of March 15, 2020 and include, but not limited to the following:

  1. Rent (only eligible if the commercial rent program is not accessed);
  2. Rent or lease of equipment and machinery;
  3. Salaries and benefits (only eligible if not eligible or rejected through the Canada Emergency Wage Subsidy (CEWS)
  4. Property taxes;
  5. Utilities;
  6. Cleaning supplies;
  7. Additional safety measures;
  8. Bank interest/charges and loan repayment (interest);
  9. Office supplies;
  10. Vehicle operating expenses;
  11. Professional fees;
  12. Insurances, and
  13. Other fixed overhead costs and one-time stabilization expenditures.

Applications will Open Soon

All Inquiries Please email



CEED Programs are delivered in partnership with ACOA and the Province of Nova Scotia