COVID-19 Info and Resources

COVID-19 | Support and Resources

2020/10/21

Looking for guidance for your business during the current COVID-19 situation? 

The WTC Winnipeg has created the following list of resources  to help navigate available support programs. Our team of business and trade advisors are also here to answer your questions. Contact us by email at covid@wtcwinnipeg.com or by phone at 204.253.4888 or 1.800.665.2019 (toll free).

 

Canada Emergency Wage Subsidy (CEWS)

Please note: On July 27 improvements to the CEWS program were passed by Parliament, which include extending the program to December 19, introduces a sliding scale and made some eligibility improvements. On October 14th, the government committed to extending the wage subsidy through to June 2021, more information to come.

The Canada Emergency Wage Subsidy will cover up to 24 weeks of employees’ salaries on the first $58,700 earned this year – to a maximum amount of $847 per week. The program is backdated to March 15, 2020 and is designed to protect jobs and maintain the important link between employees and employers.

Canada Revenue Agency opens applications for enhanced Canada Emergency Wage Subsidy (Aug. 17). New program changes include: 

  • The extension of the CEWS, including redesigned program details, until November 21, 2020.
  • Increased eligibility, meaning that all eligible employers who’ve experienced a revenue drop can now qualify for a base subsidy. The subsidy amount is based on the revenue drop.
  • Employers who are especially hard-hit can qualify for a top-up of up to 25%.
  • Employers that have already made business decisions for July and August will not receive a subsidy rate lower than they would have under the previous rules.

Eligibility:

  • Businesses, charitable or not-for-profit organizations that have experienced at least a 15% decline in revenue in March 2020 and a 30% decline in revenue in April and/or May 2020, when compared to the same month in 2019. For March 2020, businesses may alternatively choose to compare against January/February 2020. Businesses may use either cash or accrual accounting methods in calculations, however not both.
  • Public bodies are not eligible for this subsidy.
  • Infographic: Are You Eligible for the Canada Emergency Wage Subsidy? – https://www.canada.ca/content/dam/cra-arc/camp-promo/cws-wht-nfgrphcs-en.pdf

How to apply:

More Information:

Temporary Wage Subsidy for Employers

The 10% Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA).

The subsidy is equal to 10% of the remuneration you pay from March 18, 2020 to June 19, 2020, up to $1,375 for each eligible employee to a maximum of $25,000 total per employer. Associated CCPCs will not be required to share the maximum subsidy of $25,000 per employer.

Note: You may be eligible for both the Canada Emergency Wage Subsidy (CEWS) and the Temporary Wage Subsidy for Employers (10% temporary wage subsidy). However, for an eligible employer that is eligible for both subsidies for a period, all amounts that the employer claims under the 10% temporary wage subsidy for remuneration paid in a specific claim period, reduce the amount available to be claimed under the CEWS in that same period.

Eligibility:

You are an eligible employer if you are a(n):

  • individual (excluding trusts),
  • partnership,
  • non-profit organization,
  • registered charity, or
  • Canadian-controlled private corporation (including a cooperative corporation);
  • have an existing business number and payroll program account with the CRA on March 18, 2020; and
  • pay salary, wages, bonuses, or other remuneration to an eligible employee.

An eligible employee is an individual who is employed in Canada.

Partnerships are only eligible for the subsidy if their members consist exclusively of individuals (excluding trusts), registered charities, other partnerships eligible for the subsidy, or eligible Canadian-controlled private corporations (CCPCs).

CCPCs are only eligible for the subsidy if they have a business limit for their last taxation year that ended before March 18, 2020, greater than nil (determined without reference to the passive income business limit reduction). For more information on whether your CCPC would have a business limit, see Small Business Deduction in the T2 Corporation Income Tax Guide.

For more information on whether your corporation is a CCPC, see Type of Corporation – https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/type-corporation.html#ccpc

How to apply:

  • You do not need to apply for the subsidy.
  • Employers reduce their payroll remittance of federal, provincial or territorial income tax that they send to the CRA by the amount of the subsidy.

More Information:

Grant Thornton: Temporary Wage Subsidy – https://www.grantthornton.ca/globalassets/1.-member-firms/canada/insights/gt-20-154-tempwagesub-final.pdf?utm_source=cbrn&utm_medium=referral&utm_campaign=covid19&utm_content=text-link

Canada Emergency Business Account (CEBA)

CEBA has been extended to October 31, 2020, making the program accessible longer to Canadians. If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1-888-324-4201.

This $55 billion program provides interest-free loans of up to $40,000 to small businesses and not-for-profits. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

Eligibility:

  • The Borrower is a Canadian operating business in operation as of March 1, 2020 and has a federal tax registration.
  • The Borrower’s total employment income paid in the 2019 calendar year was between Cdn.$20,000 and Cdn.$1,500,000. For applicants with CAD  $20,000 or less in total employment income paid in the 2019 calendar year:
    • The Borrower has a Canada Revenue Agency business number and has filed a 2018 or 2019 tax return.
    • The Borrower has eligible non-deferrable expenses between Cdn.$40,000 and Cdn.$1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.
  • The Borrower has an active business chequing/operating account with the Lender, which is its primary financial institution. This account was opened on or prior to March 1, 2020 and was not in arrears on existing borrowing facilities, if applicable, with the Lender by 90 days or more as at March 1, 2020.
  • The Borrower has not previously used the Program and will not apply for support under the Program at any other financial institution.
  • The Borrower acknowledges its intention to continue to operate its business or to resume operations.
  • The Borrower agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.

How to apply:

Business owners can apply now through their banks and credit unions.

More Information:

Canada Emergency Response Benefit (CERB)

On August 20th, 2020 the Government of Canada announced changes to the Employment Insurance (EI) program and new income support benefits (https://www.canada.ca/en/employment-social-development/news/2020/08/government-of-canada-announces-plan-to-help-support-canadians-through-the-next-phase-of-the-recovery.html)  that will better support Canadians. CERB extended from 24 weeks to 28 weeks for eligible workers.

The Canada Emergency Response Benefit (CERB) gives financial support to employed and self-employed Canadians who are directly affected by COVID-19. If you are eligible, you can receive $2,000 for a 4-week period (the same as $500 a week).

Eligibility:

  • Residing in Canada, who are at least 15 years old;
  • Who have stopped working because of reasons related to COVID-19 or are eligible for Employment Insurance regular or sickness benefits or have exhausted their Employment Insurance regular benefits or Employment Insurance fishing benefits between December 29, 2019 and October 3, 2020;
  • Who had employment and/or self-employment income of at least $5,000 in 2019 or in the 12 months prior to the date of their application; and,
  • Who have not quit their job voluntarily.

How to apply:

More Information:

The government of Canada – CERB – https://www.canada.ca/en/services/benefits/ei/cerb-application.html

Canada Emergency Commercial Rent Assistance (CECRA)

The deadline to submit a new application is September 30, 2020. The deadline to opt-in is October 30, 2020. For rent assistance, please look at the Canada Emergency Rent Subsidy (CERS).

The Canada Emergency Commercial Rent Assistance (CECRA) program will provide small businesses, non-profits, and charities a 75% reduction in their rent payments for the months of April, May, June, and July. The program will provide forgivable loans to qualifying commercial property owners to cover 50% of the eligible rent payments. The loans will be forgiven if the property owner agrees to reduce the eligible small business tenants’ rent by at least 75% and agrees not to evict the tenant.

Eligibility:

  • Those paying less than $50,000 in monthly rent.
  • Those who have temporarily ceased operations or have experienced at least a 70% drop versus pre-COVID-19 revenues.

How to apply:

The Canada Mortgage and Housing Corporation (CMHC) is administering the program on behalf of the federal, provincial, and territorial governments. Apply now – https://cecra-apply.ca/account/login?ReturnUrl=%2F

More Information:

Canada Emergency Rent Subsidy (CERS)

On October 9th, 2020, the government of Canada announced a new financial rent relief program. The program will provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying organizations affected by COVID-19. There will also be a top-up Canada Emergency Rent Subsidy of 25 per cent for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority, in addition to the 65 per cent subsidy.

Canada United Small Business Relief Fund

Note: The current application window is closed. The new application window will be open on Monday, October 26, 2020.

Created and launched by RBC, Canada United is a national movement to support local businesses in communities across the country. The actions of Canadians during the campaign helped establish the Canada United Small Business Relief Fund (CUSBRF) to help small businesses offset the cost of expenses required to reopen safely or adopt digital technologies to move more of their business online. Successful applicants will receive a relief grant of up to $5,000.

Eligibility:

  • Applicants do not need to be a member of the Ontario Chamber of Commerce (OCC) to qualify
  • Small to medium-sized (SME) companies from all sectors and all regions of Canada
  • For greater clarity, both For-Profit and Not-For-Profit organizations are eligible to apply but Government organizations, municipalities, charities and the chamber of commerce network are not eligible to apply
  • Be incorporated, or operating as a sole proprietor, in Canada as of March 1, 2020
  • No more than 75 employees
  • Have minimum annual sales of $200,000 and not more than $3,000,000
  • Have $1,000,000 of commercial general liability insurance
  • Not receiving any other contributions from public funds towards the specific activities contained in the funding application
  • Be in operation after September 1, 2020 (grant recipients must sign a declaration included in the approval letter to confirm)

How to apply:

Apply online https://www.surveygizmo.com/s3/5809871/Canada-United-Application-MB

More Information:

Employment Insurance (EI)

Ongoing access to the Employment Insurance (EI) program is available for eligible workers who have lost their job. EI is designed to provide temporary financial support for those workers who have lost their job, are sick, pregnant, caring for a newborn or adopted child, caring for a family member who is seriously ill with a significant risk of death or providing care or support to a critically ill family member.

If you have recently applied for Employment Insurance (EI) regular or sickness benefits, do not re-apply. Your application will automatically be assessed to determine if you are eligible for the CERB.

More Information:

Canada Recovery Benefit

Open for applications. 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.

More Information:

Canada Recovery Benefit – https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit.html

 

Manitoba Bridge Grant

The Manitoba Bridge Grant provides a $5,000 grant to eligible Manitoba businesses and organizations that are required to fully close their premises to the public as a result of the recent Manitoba COVID-19 Prevention Orders in effect as of November 12, 2020.

Eligibility:

To receive support from the Manitoba Bridge Grant, a business or organization must meet all of the following criteria:

  • be a permanent, Manitoba-based business or organization physically operating in the Province of Manitoba;
  • have been actively operating or conducting business on or until November 9, 2020;
  • operate as a sole proprietorship, partnership, corporation, co-operative, non-share corporation, not-for-profit organization, or registered charity;
  • possess an active and valid Business Number as of November 9, 2020;
  • be in good standing with the Manitoba Companies Office (not required for sole proprietors and registered charities);
  • have been required by Manitoba COVID-19 Prevention Orders in effect as of November 12, 2020, to fully close their premises to the public;
  • have an e-mail address and a valid business bank account with a Canadian financial institution.

Note:

  • The program application deadline is December 15, 2020.
  • The Manitoba Bridge Grant is taxable income.

How to apply:

Before proceeding to the online application, ensure you have the following information ready:

  • Your Business Number, Companies Office Registry Number, Workers Compensation Board or Retail Sales Tax account numbers (if applicable)
  • The business or organization’s bank account information
  • Your Social Insurance Number, if you are applying as a sole proprietor or partnership, when the partner is an individual. The applicant must be the sole-proprietor, partner, director, or authorized representative of the business or organization.
  • Apply here: https://forms.gov.mb.ca/bridge-grant/
  • If you require assistance in completing the online form, please Call: 204-945-3744 or 1-866-626-4862 (Toll-Free), or email: mgi@gov.mb.ca

More Information:

Manitoba Gap Protection Program

The Gap Protection applications are closed at this time.

Update: Businesses who received the Manitoba Gap Protection of $6,000 will no longer have to pay back the Gap Protection loan. This also apllies to Businesses who received both the Manitoba Gap Protection and any other federal assistance.

The province will advance each eligible business the non-interest bearing forgivable MGPP loan of $6,000, for a total of up to $120 million. The loan will be forgiven on Dec. 31, 2020, if the recipient attests at that time the business has not received any major non-repayable COVID-19 federal supports such as the Canada Emergency Wage Subsidy and the Canada Emergency Business Account, as well as sector-specific grant federal programs specifically developed in response to the pandemic.

Eligibility:

To be eligible for the MGPP funding, a business must:
•    have been operational on March 20, 2020, the date the Manitoba government declared a provincewide state of emergency under The Emergency Measures Act because of COVID-19;
•    have temporarily ceased or curtailed operations as a result of a COVID-19 public health order and have been harmed by the health order;
•    be registered and in good standing with the Manitoba Business and Corporate Registry;
•    have not qualified for federal government COVID-19 grant support; and
•    have an email address and a bank account.

How to apply:

  • Apply online here – https://manitoba.ca/covid19/protection/mgpp.html
  • If you require assistance in completing the online form, please contact the Manitoba Economic Assistance Office at 1-888-805-7554.
  • The program application deadline is October 31, 2020. NOTE: the application deadline is subject to change as determined by the Manitoba government.

More Information:

Back to Work in Manitoba Wage Subsidy Program

Update: Employers that applied to the program on or before November 9 are eligible to receive an advance payment of $1,500 for every eligible worker hired or re-hired to date under the program.

Employers that re-hire workers laid off as a result of Manitoba public-health orders are also eligible for the subsidy.

The Back to Work Manitoba initiative is a hiring program designed to support Manitoba’s economic recovery by encouraging Manitoba employers to bring back their employees or take on new hires. The program covers 50 per cent of wage costs between July 16 and December 31, 2020. Employers can be supported to hire up to 20 employees.

Eligibility: 

The program is open to all private sector and non-profit employers who are operating in Manitoba and meet all of the following criteria:

  • Manitoba-based businesses and non-profit organizations operating in the Province of Manitoba, including new startups, are eligible.
  • Employers must possess an active and valid Business Number, business bank account, and e-mail address.
  • Employers must be registered, and in good standing with the Companies Office (not required for sole proprietors).
  • Employers can hire 20 new or rehired employees under this program.

How to apply: 

You can apply online – https://manitoba.ca/covid19/restartmb/btwmp.html

More Information: 

Manitoba Back to Work Program – https://manitoba.ca/covid19/restartmb/mbtwp.html 

Support for agriculture, farmers and food processing employers

Agriculture Sector Support

The Government of Canada has announced $252 million to support farmers, food businesses, and food processors that provide essential services to Canadians every day by ensuring a safe and reliable food supply. A proposal for $200 million in additional borrowing capacity for the sector has also been announced.

More information:

https://pm.gc.ca/en/news/news-releases/2020/05/05/supporting-canadas-farmers-food-businesses-and-food-supply 


Funding for Temporary Foreign Worker Quarantine Costs

Agriculture and Agri-Food Canada is providing $50 million to help farmers, fish harvesters and all food production and processing employers put in place the measures necessary to follow the mandatory 14-day isolation period required of all workers arriving from abroad.

Support of $1,500 for each temporary foreign worker will be provided to employers, or those working with TFWs, to ensure requirements are fully met. The funding is conditional on employers not being found in violation of the mandatory 14-day isolation protocols or any other public health order.

This program will be available as long as the Quarantine Act is in force and the isolation protocol is followed.

More information:

https://www.canada.ca/en/agriculture-agri-food/news/2020/04/keeping-canadians-and-workers-in-the-food-supply-chain-safe.html  


Emergency Processing Fund (EPF)

The Emergency Processing Fund (EPF) is a one-time, federal investment of up to $77.5 million to help companies implement changes to safeguard the health and safety of workers and their families due to the impacts of the COVID-19 pandemic. The fund also aims to aid companies to invest to improve, automate and modernize facilities needed to increase Canada’s food supply capacity. The fund is one part of the greater Government of Canada response to the COVID-19 pandemic.

Eligible criteria include:

  • For profit organizations that are incorporated in Canada (i.e. businesses and/or corporations, cooperatives, Indigenous groups);
  • Legal entities capable of entering into a legally binding agreement;
  • In operation for at least two (2) years; and
  • Involved in agricultural food processing or manufacturing in Canada.

You can now apply online (https://www.agr.gc.ca/eng/agricultural-programs-and-services/emergency-processing-fund/step-3-how-to-apply/?id=1591389940557) . Before you apply, please read the Applicant guide ( https://www.agr.gc.ca/eng/agricultural-programs-and-services/emergency-processing-fund/applicant-guide/?id=1591390848110) for detailed information on eligibility criteria and the application process.

More information:

https://www.agr.gc.ca/eng/agricultural-programs-and-services/emergency-processing-fund/contact-information/?id=1591391668059 

Regional Relief and Recovery Funds (RRRF)

The Fund aims to help western Canadian businesses cope with the financial hardship resulting from COVID-19. The funds are divided in four different eligibility groups:

Funding over $40,000. Apply online (https://portal.wd-deo.ca/en-ca/form/?id=808eb560-cf90-ea11-a811-000d3af4a4ca)

More Information:

Regional Relief and Recovery Fundhttps://www.wd-deo.gc.ca/eng/20059.asp

Wage Funding Employment Programs from ECO Canada

Your business can get up to 75% of funding and/or training covered with amounts between $15k to $30k available.  Working with the federal government, ECO Canada offers three employment funding programs for organizations to hire recent graduates in roles with an environmental focus. Three programs are available:

  1. Youth in Natural Resources funds $22,500 per hire which can increase up $30,000 for Indigenous youth, Rural or remote positions. This program focuses on roles in Natural Resources or STEM. Apply by October 1st, 2020 to secure funding
  2. Science Horizons Internship funds 50% per hire up to $15,000.This program focuses on roles in Science, Technology, Engineering and Math. Apply by October 1st, 2020 to secure funding
  3. Digital Skills for Youth funds 100% per hire up to max of $25,000
  • Cleantech innovation and sustainable technology initiatives
  • Digital marketers aiming to promote environmental businesses
  • Developers that create apps or software related to environmental education
  • GHG specialists in charge of predictive modeling or the analysis of emissions
  • Drone operators that monitor remote well sites or wildlife corridors
  • GIS specialists that use software to analyze mapping data or databases that surround environmental monitoring
  • Analysts and IT specialists working with EHS data
  • Funding is open until December 31, 2020 – places are limited

ECO Canada employment funding programs were created to stimulate skill development, business growth and workforce advancement. Let ECO Canada help you do that. Applications take only 20 minutes.

Take the eligibility assessment and apply: https://www.eco.ca/employment-programs/

More Information:

Reach out to us at pathways@eco.ca with any questions or visit – https://www.eco.ca/employment-programs/youth-placement/natural-resources/?utm_source=newsletter&utm_medium=email&utm_campaign=wf_20&utm_content=ESAAwfYNR

More Provincial Support

For more information on provincial financial program, please visit the Manitoba Protection Plan – https://manitoba.ca/covid19/protection/index.html

More Federal Support

For more information on federal financial program, please visit Canada’s COVIS-19 Economic Response Plan – https://www.canada.ca/en/department-finance/economic-response-plan.html

 

Large Employer Emergency Financing Facility (LEEFF)
  • The LEEFF program is meant to provide bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going. The objective of this support is to help protect Canadian jobs, help Canadian businesses weather the current economic downturn, and avoid bankruptcies of otherwise viable firms where possible.
  • This support cannot be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis.

Eligibility:

  • The LEEFF program will be open to large for-profit businesses – with the exception of those in the financial sector – as well as certain not-for-profit businesses, such as airports, with annual revenues generally in the order of $300 million or higher.
  • To qualify for LEEFF support, eligible businesses must be seeking financing of about $60 million or more, have significant operations or workforce in Canada, and not be involved in active insolvency proceedings.
  • Recipients will need to commit to respect collective bargaining agreements and protect workers’ pensions. It will require strict limits to dividends, share buy-backs, and executive pay.
  • An assessment may be made of companies’ employment, tax, and economic activity in Canada, as well as its international organizational structure and financing arrangements.
  • The program will not be available to companies that have been convicted of tax evasion.
  • Recipient companies would be required to commit to publish annual climate-related disclosure reports consistent with the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, including how their future operations will support environmental sustainability and national climate goals.
  • Financing is intended to be applicable to all eligible sectors in a consistent manner.

How to apply:

Applications are available now through the Canada Enterprise Emergency Funding Corporation – https://www.cdev.gc.ca/home-ceefc/

More Information:

Business Credit Availability Program (BCAP)

Through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC), the new Business Credit Availability Program will increase the credit available to small, medium and large Canadian businesses, providing more than $65 billion in direct lending and other types of financial support. More information is available here – https://www.edc.ca/en/solutions/working-capital/bcap-guarantee.html

Downtown Winnipeg Biz Grant

Downtown Winnipeg BIZ is giving out 50 micro-grants of $1,000 each to qualifying small and medium-sized businesses in the downtown area who have been negatively impacted by the COVID-19 pandemic.

Eligibility:

  • The principal place of business must be within the Downtown Winnipeg Business Improvement Zone (BIZ) and the business must pay a Downtown Winnipeg BIZ levy.  
  • Applicant must be the owner of the business. 
  • Business must have no more than $1 million in gross total sales between January 1, 2019 and December 31, 2019. 
  • Business must have less than 50 employees. 
  • Business must have experienced a minimum 25% decrease in revenue due to COVID-19. 
  • Business is independent or locally owned (franchises are included). 
  • If applicant owns multiple businesses, only one of the businesses may apply to be eligible for the grant. 
  • Business must not be permanently closed and must intend to continue its operations following the COVID-19 pandemic. 
  • Business must not have any pre-existing tax liens or legal judgments. 
  • Business must not be in receivership or bankruptcy. 
  • The grant can be used for rent payments, mortgage payments, utilities and regular overhead costs, but not any accrued debt or expenses incurred before March 15. 
  • $10,000 of the grants are allocated to BIPOC-owned businesses. If there are less than 10 BIPOC-owned businesses that qualify, then other qualifying businesses will be chosen. 
  • Business must have the ability to share the financial impact of this grant for Downtown Winnipeg BIZ marketing and promotional purposes. 

How to apply:

Applications are to be submitted online  – https://docs.google.com/forms/d/e/1FAIpQLSc4QoUO1I1MVgNwj3rVXF2E-xtqdSuMuUbGmKdq_YCxVKNPoQ/viewform 

More Information:

Downtown Winnipeg Biz – https://downtownwinnipegbiz.com/downtown-businesses-needing-support-through-the-pandemic-can-apply-for-a-1000-grant/ 

Farm Credit Canada COVID-19 Support Program

Farm Credit Canada (FCC) will augment credit available to farmers and the agri-food sector by $5 billion, including a deferral of principal and interest payments up to six months for existing loans or a deferral of principal payments up to 12 months, access to an additional credit line up to $500,000, secured by general security agreements or universal movable hypothec (Québec only). More information is available here – https://www.fcc-fac.ca/en/covid-19/program-details.html

Energy sector support from the federal government

The federal government has announced $1.7 billion for the cleanup of orphaned oil and gas wells, which includes:

  • Up to $1 billion to the Government of Alberta;
  • Up to $400 million to the Government of Saskatchewan;
  • Up to $120 million to the Government of British Columbia; and
  • $200 million to the Alberta Orphan Wells Association (OWA) to support its work to clean up orphan oil and gas wells and well sites across Alberta. The OWA will fully repay this amount.

The federal government has also announced $750 million for Natural Resources Canada over two years, starting in 2020-21, to create a new repayable loan program to work with conventional and offshore oil and gas companies to reduce their greenhouse gas emissions. Of this amount, $75 million will be allocated to investments in the offshore sector. A portion of these loans will be convertible to grants.

The federal government is also continuing to work with EDC and BDC to make additional credit solutions available.

Additional funding through regional development agencies, industrial research, and Heritage Canada

To help reach people and businesses who may not be able to receive funding through other programs and financial lenders, the federal government is also allocating an additional:

Applications for funding can be submitted directly to those organizations.

Bank of Canada interest rate
The Bank of Canada cut its overnight rate to 0.25% – the interest rate at which major financial institutions borrow and lend one-day (or “overnight”) funds among themselves.

 

For businesses
The Canada Revenue Agency (CRA) will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020, with no interest or penalties applicable during this period.

For individuals
The Canada Revenue Agency (CRA) will defer the filing due date for the 2019 individual tax return to June 1, 2020, and to May 1, 2020 for trusts with a taxation year ending on December 31, 2019.

Payments of tax owing are deferred until after August 31, 2020, with no interest or penalties applicable during this period.

 

Funding for small and medium-sized Indigenous businesses and financial institutions

On March 18, the federal government provided up to $306.8 million in funding to help small- and medium-sized Indigenous businesses, and to support Aboriginal Financial Institutions that offer financing to these businesses.

The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit and Métis businesses.

The program will be provided through Aboriginal Financial Institutions, and administered by the National Aboriginal Capital Corporations Association and the Métis capital corporations in partnership with Indigenous Services Canada.

The funding will allow for interest-free loans, as well as non-repayable contributions, to help Indigenous businesses unable to access the government’s existing COVID-19 support measures. Additional funding will help Aboriginal Financial Institutions cover operational expenses, and help the National Aboriginal Capital Corporations Association increase its operational capacity.

On May 21, the government announced an additional $75 million in funding for Indigenous organizations providing services to Indigenous peoples in urban centres and off reserve. This additional funding will support more community-based projects that address the critical needs of Indigenous populations during this crisis, including food security, mental health support services, and sanitation and protective equipment. It could also help with other needs, such as support for Elders, transportation, and educational materials for Indigenous children and youth.

Additional Resources

 

Provincial COVID-19 information:
Recovery and reopening
Personal Protective Equipment
Partners’ COVID-19 resource pages

Recovery and reopening
Federal and Provincial Programs
Human Resources
Additional Resources
Webinars and Online Training