Let’s face it. As of March 2020, the Canadian economy is in serious trouble. Our team is closely watching the announcements of the response measures at all levels of government to help your businesses survive the tough time caused by COVID-19. This page will be updated as more information becomes available. All crisis response measures to-date can be found here (Ministry of Finance), and the websites of the Provincial and Territorial Ministries of Finance.
We Help Your Business Apply for Canadian Government Subsidies (COVID-19 Grants)
Our focus is to help you with the business funding programs that require application writing. We concentrate on the programs that help you resolve the following issues.
Canada Emergency Wage Subsidy (CEWS) + Canada Recovery Hiring Program (CRHP)
- Eligibility: Individuals, partnerships, private corporations and Canadian non-profits and charities who are experiencing a decline in revenues due to the COVID crisis. Revenues will be compared monthly starting March 2020, to the revenues for the same time in 2019, or to the average of January and February 2020 revenue.
- Amount: up to 75% of remuneration to $847 per week per employee.
- Timing: Payments will be made within 6 weeks.
- Deadline: The wage subsidy is retroactive and the application intake is continuous. The program ends in November 2021.
- Official Press Release
- How to Apply? Applicants need to re-apply monthly. Application forms will be available on CRA website, My Business Account section.
Canada Emergency Rent Subsidy (CERS) + Lockdown Support
- Eligibility: Individuals, partnerships, private corporations and Canadian non-profits and charities who are experiencing a decline in revenues due to the COVID crisis, and were forced to shut down by the provincial, regional or municipal governments. Revenues will be compared monthly starting March 2020, to the revenues for the same time in 2019, or to the average of January and February 2020 revenue.
- Amount: up to 65% of eligible rent, property tax, property insurance and mortgage interest expenses. Plus up to 25% of the above expenses if the business was forced to shut down. The maximum amount of eligible expenses is $75,000 per month.
- Timing: Payments will be made within 6 weeks.
- Deadline: The rent subsidy is retroactive and the application intake is continuous. However, all applications must be submitted within 180 days following the end of each eligible period. The program ends in June 2021.
- Official Press Release
- How to Apply? Applicants need to re-apply monthly. Application forms will be available on CRA website, My Business Account section.
Work Share Agreement
Business Credit Availability Program (BCAP) Loan
Business Credit Availability Program (BCAP) Guarantee
Canada Emergency Business Account (CEBA)
Regional Relief and Recovery Fund (RRRF)
This program provides up to $60,000 to small businesses and not-for-profits in Southern Ontario that don’t qualify for other types of pandemic-related government assistance. Visit FedDev Ontario RRRF program to apply.
Highly Affected Sectors Credit Availability Program (HASCAP)
The Government of Canada has announced a new Highly Affected Sectors Credit Availability Program (HASCAP), which will offer a 10-year government guaranteed loan of up to $1,000,000 to companies that have experienced a drop in revenues of 50% or more for 3 months. Contact your financial institution to apply.
Other Funding and Recovery Opportunities
If your business is a small retailer, service business with a physical location or a food service establishment (restaurant, cafe, bakery), you may qualify for the grant to update your website, learn digital marketing skills and build an online store. Visit the Digital Main Street program for details.
Regional Opportunities Investment Tax Credit in Ontario
- Eligibility: Canadian-controlled private corporation that makes qualifying investments that become available for use on or after March 25, 2020, in specified regions of Ontario. The tax credit would be available for expenditures in excess of $50,000 and up to a limit of $500,000. The tax credit would be available only in Northern Ontario and large parts of Southwestern and Eastern Ontario with the exception of Greater Toronto and Greater Ottawa areas.
- Eligible Investments (Expenses): Constructing, renovating or acquiring eligible commercial, industrial and certain farm buildings.
- Amount: 10% of eligible expenses reduce corporate income tax.
- Timing: To be confirmed.
- How to Apply? To be confirmed. Apply for tax credits at the end of your fiscal year.