Subsidy and Aid Relief Information
Many subsidy and aid relief programs have recently updated. We have compiled a list of these resources on our website and are constantly updating this information. You are able to view COVID-19 business resources on our website by clicking the button below or viewing our website at: https://www.gprchamber.ca/covid-19/.
Black Entrepreneurship Program (BEP)
The Black Entrepreneurship Program (BEP) is a partnership between the Government of Canada, Black-led business organizations, and financial institutions. With an investment of up to $221 million over four years, it will help Black Canadian business owners and entrepreneurs grow their businesses and succeed now and into the future.

  • The National Ecosystem Fund will support not-for-profit Black-led business organizations across the country in their capacity to provide support, mentorship, financial planning, and business training for Black entrepreneurs. The National Ecosystem Fund closes to applications on December 21, 2020 14:00 PST.

  • The Black Entrepreneurship Knowledge Hub will conduct research on Black entrepreneurship in Canada. It will help identify barriers to success and opportunities for growth. The Hub will be led by not-for-profit Black-led community and business organizations in partnership with educational institutions. The Black Entrepreneurship Knowledge Hub closes to applications on January 18, 2021 at 14:00 PST.

Business Credit Availability Program (BCAP)
Credit to help cover operating costs due to the COVID-19 pandemic through the Business Development Bank of Canada (BDC).

  • EDC Business Credit Availability Program (BCAP) Guarantee
  • Up to $6.25 million to cover rent, payroll and other operating costs caused by the current crisis; available until or before June 2021 (extended).
  • Co-Lending Program
  • Up to $12.5 million for your operational cash flow requirements; available until or before June 2021 (extended).
  • Mid-Market Financing Program
  • Junior loans ranging between $12.5 million and $60 million for medium-sized businesses particularly impacted by the COVID-19 pandemic; available until or before June 2021 (extended).

Canada Emergency Business Account (CEBA)
The Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

CEBA requirements and deadlines have changed:
  • As of October 26, 2020, eligible Canadian businesses currently operating through a personal bank account will be able to apply for CEBA.
  • All applicants now have until December 31, 2020, to apply for CEBA.
  • *COMING SOON* CEBA support is being expanded from $40K to $60K. This expansion will be available to all eligible previous and new CEBA applicants. Stay tuned to the CEBA website for more details, including launch details in the coming weeks.

Canada Emergency Rent Subsidy (CERS)
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.

This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.

Canada Emergency Wage Subsidy (CEWS)
The CEWS has been extended to June 2021, including changes to the rates and top-up calculation.

As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy to cover part of your employee wages, retroactive to March 15, 2020.
This wage subsidy will enable you to re-hire workers previously laid off as a result of COVID-19, help prevent further job losses, and better position you to resume normal operations following the crisis.

You can click the link below to find out if you're an eligible employer, and to calculate you subsidy amount if you are eligible.

Canada Recovery Benefit (CRB)
The Canada Recovery Benefit (CRB) gives income support to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits. The CRB is administered by the Canada Revenue Agency (CRA).
If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.

If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

Canada Recovery Caregiving Benefit (CRCB)
The Canada Recovery Caregiving Benefit (CRCB) gives income support to employed and self-employed individuals who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care. This applies if their school, regular program or facility is closed or unavailable to them due to COVID-19, or because they are sick, self-isolating, or at risk of serious health complications due to COVID-19. The CRCB is administered by the Canada Revenue Agency (CRA).

If you are eligible for the CRCB, your household can receive $500 ($450 after taxes withheld) for each 1-week period. If your situation continues past 1 week, you will need to apply again. You may apply up to a total of 26 weeks between September 27, 2020 and September 25, 2021.

Canada Recovery Sickness Benefit (CRSB)
The Canada Recovery Sickness Benefit (CRSB) gives income support to employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19. The CRSB is administered by the Canada Revenue Agency (CRA).

If you are eligible for the CRSB, you can receive $500 ($450 after taxes withheld) for a 1-week period. If your situation continues past 1 week, you will need to apply again. You may apply up to a total of 2 weeks between September 27, 2020 and September 25, 2021.

Canada Student Summer Jobs Grants
The temporary changes to the program for this year include:
  • an increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee
  • an extension to the end date for employment to February 28, 2021
  • allowing employers to adapt their projects and job activities to support essential services
  • allowing employers to hire staff on a part-time basis

Government of Alberta Small & Medium Business Enterprise Relaunch
Applications for a second payment of the Small and Medium Enterprise Relaunch Grant for businesses operating in areas where new health measures have been implemented will open as soon as possible and more information will be provided once available.

The Small and Medium Enterprise Relaunch Grant offers financial assistance to Alberta businesses, cooperatives, and non-profit organizations that were ordered to close or curtail operations, and that experienced a revenue reduction of at least 40%, as a result of the COVID-19 pandemic.

Eligible organizations can apply for 15% of their pre-COVID-19 monthly revenue, up to a maximum of $5,000 in funding.

Larger Employer Emergency Financing Facility (LEEFF)
LEEFF is a program instituted by the Government of Canada to provide short-term liquidity assistance in the form of interest-bearing term loans to large Canadian employers who have been affected by the COVID-19 outbreak. The intent of LEEFF is to provide bridge financing to large Canadian employers to help these enterprises to preserve their employment, operations and investment activities until they can access more traditional market financing.
LEEFF will be open to large Canadian employers who:

(a) have a significant impact on Canada’s economy, as demonstrated by (i) having significant operations in Canada or (ii) supporting a significant workforce in Canada;
(b) can generally demonstrate approximately $300 million or more in annual revenues; and
(c) require a minimum loan size of about $60 million.

Broader sectoral dynamics for LEEFF applicants will be considered by Innovation Science and Economic Development Canada. As part of this process, applicants will also be contacted by ISED officials.

Regional Relief and Recovery Fund (RRRF)
As part of Canada’s COVID-19 Economic Response Plan, the Regional Relief and Recovery Fund (RRRF) is providing over $1.5 billion in assistance to businesses and communities that may require additional support to cope with and recover from the pandemic.
Businesses can apply for the following:

  • Funding up to $40,000, for rural businesses
  • Funding up to $40,000, for women-owned or women-led businesses
  • Funding up to $40,000, for all other small- and medium-sized businesses
  • Funding over $40,000

The fund will help to:
  • mitigate the financial pressure experienced by businesses and organizations to allow them to continue their operations, including paying their employees; and
  • support projects by businesses, organizations and communities to prepare now for a successful recovery.

Rural Business and Communities
The Federal Government is providing $287 million to support rural businesses and communities by providing them with much-needed access to capital through the Community Futures Network.

Small and Medium-sized Businesses Unable to Access Other Support Measures
The Federal Government is providing $675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada's Regional Development Agencies.

Support for Indigenous Businesses
Dedicated funding for First Nations, Inuit, and Métis businesses.

Small and medium-sized Indigenous businesses that are current or former clients of an Aboriginal Financial Institution can apply for up to $40,000:
  • an interest-free loan up to $30,000
  • a non-repayable contribution up to $10,000

On April 18th, the Government of Canada announced $306.8 million in funding for small and medium-sized Indigenous businesses struggling amid the COVID-19 pandemic.
  • These measures will help 6,000 Indigenous-owned businesses get through these difficult times

Indigenous businesses provide jobs, goods, and services to communities, and are an important part of the Canadian economy. In addition to the above measures, Indigenous peoples can also access benefits for individuals and businesses on the www.canada.ca website.
Work Sharing Program
The Work-Sharing program is offered to workers who agree to reduce their normal working hours because of developments beyond the control of their employers.
  • In place until March 14, 2021
  • 76 weeks maximum
  • Businesses can apply now
  • Removed mandatory cooling off period
  • Have to have been in business for a minimum of 1 year, not 2 under the original guidelines

Young Entrepreneurs
The Federal Government is providing $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months.

This e-Blast is from: Greater Parkland Regional Chamber of Commerce

Name: Julie Roberts
Title: Project Specialist
Company: GPRC