Available Support Programs
Tuesday Mar 23, 2021
We've been receiving a few e-mails from operators who were looking for programs which remain available to them. As a result, NOTO has put together this quick recap on the programs that remain available. Please note: some of these programs are closing soon so please do not wait to put in an application if you haven't already done so!
Government of Ontario Supports:
- The Ontario Small Business Support Grant: Open until March 31st* This grant provides a minimum $10,000 for all eligible businesses, and provide businesses with dollar-for-dollar funding to a maximum of $20,000 to help cover decreased revenue as a result of the December/January Lockdown. Businesses will be able to use this grant in whatever way makes most sense to them (i.e. paying wages, cover reoccurring costs, maintaining inventory, etc.)
- PPE, Property Tax and Energy Rebate Program: Businesses that have been required to shut down or significantly restrict services due to public health measures implemented under the red or lockdown zone categories can apply for rebates to help with fixed costs such as PPE (up to $1000), property tax and energy bills. Operators must submit proof of purchase for PPE costs, and submit the first electricity and property tax bill they receive after the public health measures come into effect.
- COVID-19 Energy Assistance Program for Small Businesses: This program provides a one time, on-bill credit to eligible small business and registered charity customers to help them catch up on their energy bills and resume regular payments. This means up to $850 in support towards their electricity bill and up to $425 in support towards their natural gas bill. Operators must contact their electricity and/or natural gas provider to apply.
- Property Tax Relief: As part of Ontario's budget, the Government proposed to give municipalities the flexibility to target property tax relief to small businesses and will consider matching these reductions, which would provide small businesses with municipal and provincial property tax relief. Please contact your local tax department within your city or municipal office to see if they’ve initiated their own property tax relief program.
Federal Government Supports:
- Canada Recovery Benefit: CRB provides $500 per week for up to 38 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI). Please note: there have been several changes that make it easier for employees/self-employed individuals to access EI.
- Canada Emergency Wage Subsidy: CEWS covers up to 75% of employees’ wages for qualifying employers. This program will remain in effect until June 2021.
- Canada Emergency Business Account: Open until March 31st* CEBA provides up to $60,000 loans (up to $20,000 forgivable if paid by December 2022) to small businesses and not-for-profits that have experienced diminished revenues due to COVID-19, but continue to face ongoing non-deferrable costs such as rent, utilities, insurance, taxes and wages.
- Regional Relief Recovery Fund: The RRRF provides unconditionally repayable and conditionally repayable contributions to eligible small and medium-sized enterprises, of up to a maximum of $500,000 (funding amounts vary based on needs of individual businesses). This program provides rural businesses with access to capital through the Community Futures Network and FedNor. The RRRF has a second funding program that mimics the CEBA loans. The deadline for applying to the RRRF $60,000 loan with $20,000 forgivable through the CFDCs is March 31st. If you miss that deadline or are looking for a larger loan, contact FedNor directly and that RRRF application deadline is June 30, 2021. Click HERE for more details on the RRRF program and how/where to apply.
- Business Credit Availability Program: This program makes loans more accessible to businesses of all types and sizes. Export Development Canada is working with financial institutions to guarantee loans for small and medium-sized enterprises to be used for operational expenses. The amount of financing depends on business revenues. This program is available at various banks and credit unions and will remain available until June 2021.
- Canada Recovery Sickness Benefit: This program provides up to $500/week for a maximum of four weeks for any worker who is unable to work because they have contracted COVID-19, or are self-isolated for reasons related to COVID-19.
- Highlighly Affected Sectors Credit Availability Program: The program will be available through your financial institution. These will be 100% government-backed loans and they will provide $25,000 to $1 million to be used for operational cashflow. The application will remain open until June 30th, 2021.