Available Financial Supports and Funding for Business
Small Business Reopening and Support Grant
Applications for the Provincial Small Business Reopening and Support Grant are now OPEN for group 1 and group 2 businesses and you can apply here. Apply soon, this will close at the end of June.
Stores and retailers without a physical shop are not eligible. If your business needs of a consultant, please check out our member directory to find highly qualified consultants.
Canada Emergency Business Account accepting more applications
This means that owner-operated small businesses that had been ineligible for the program due to their lack of payroll, sole proprietors receiving business income directly, as well as family-owned corporations remunerating in the form of dividends rather than payroll will become eligible this week.
To qualify under the expanded eligibility rules, CEBA applicants with payroll lower than $20,000 will need:
- A business operating account at a participating financial institution;
- A Canada Revenue Agency business number;
- A 2018 or 2019 tax return; and
- Eligible non-deferrable expenses of between $40,000 and $1.5 million.
More information can be found on the CEBA program’s website.
Extending the Canada Emergency Response Benefit(CERB)
Prime Minister Trudeau announced on June 15 that the federal government would be extending the CERB. Read the full statement from the government here.