Canada Emergency Business Account (CEBA)
CEBA provides 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. This program has been implemented by banks and credit unions in collaboration with Export Development Canada. You can check to see if you are eligible here: https://ceba-cuec.ca/
Canada Emergency Wage Subsidy (CEWS)
Through CEWS, the government is covering a portion of an employee's wages for eligible employers. The wage subsidy supports you to keep and re-hire your employees and avoid layoffs. The wage subsidy will remain at the current subsidy rate of up to a maximum of 65 per cent of eligible wages until June 2021. You can look at how to apply through this link: https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html
Regional Relief and Recovery Fund (RRRF)
The government announced an additional $600M investment in the RRRF, delivered by Canada’s Regional Development Agencies for businesses not eligible to CEBA. In the Southern Ontario region, which includes Ottawa, the RRRF- delivered by Federal Economic Development Agency for Southern Ontario (FedDev)- has helped to protect 40,000 jobs. As part of the new extension, FedDev received an additional $184M to support small and medium sized business in the Southern Ontario region, which includes Ottawa. Moreover, $30M will be provided to Community Futures Development Corporations (CFDCs) to serve businesses in small and rural communities. For more information on the RRRF, including how to apply, please visit FedDev Ontario’s website; http://www.feddevontario.gc.ca/eic/site/723.nsf/intro.
Canada Emergency Rent Subsidy (CERS)
The government opened the CERS to receive applications from qualifying organizations. These organizations can now apply directly for the subsidy for the period from September 27 to October 24, 2020 through the Canada Revenue Agency (CRA) My Business Account, or Represent a Client portals. Applications for the second CERS period (October 25 to November 21, 2020) will open on November 30.
In response to concerns raised by stakeholders about the program, the Government is proposing to amend the CERS in order to allow applicants to include eligible expenses in their CERS application before the expense has been paid. This means that organizations can include rent and other eligible amounts already paid in respect of a claim period as well as amounts that are payable for the claim period when submitting their CERS applications. Amounts that are not paid at the time of the application will have to be paid no later than 60 days after payment of the subsidy.
In addition, the CRA launched a CERS online calculator and application form. The calculator guides applicants through a step-by-step process that allows them to determine the subsidy amount they can claim, based on the information they enter. The CERS web pages include detailed information about eligibility requirements, how payment periods are structured, and how the subsidy is calculated.
Canada United Small Business Relief Fund
The federal government made a $12 million investment for the Canada United Small Business Relief Fund to support small business owners cover the costs of PPE, physical modifications to their businesses to meet local health and safety requirements and enhancing their digital or e-commerce capabilities.
To apply for grants of up to $5,000 for small businesses: https://bit.ly/3kwVQhe