Local organization supporting businesses facing losses from wildfires, more

As wildfire and water scarcity issues continue to persist, a local organization is stepping up to support local businesses.

Community Futures North Okanagan (CFNO) has launched an Economic Disaster Response Program for local businesses.

The program will provide loans for businesses needing urgent working capital, payroll assistance, and help covering inventory and remediation costs. The program will also be able to connect Business Advisors with businesses needing recommendations for available relief programs, workshops and training opportunities.

CFNO stated economic projections estimate that roughly 25 per cent of local businesses face impacts due to closures or evacuations, while 60 per cent will experience indirect loss from reduced foot traffic, lower revenues and cancellations. It also stated that tourism, retail, hospitality, recreation, and other summer-focused sectors could see revenue losses between 30 and 40 per cent due to the ongoing challenges, while agricultural operators face significant income shortages due to crop loss and lower production.