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READ OUR COVID-19 UPDATE
1. Government of Canada Resources for Businesses
The Government of Canada updates their Resource page on an ongoing basis that lists the various supports for Canadian Businesses.
2. Canada Emergency Wage Subsidy Program
3. Canadian Government Resources for Agricultural Producers, Agri-Businesses & Food Processors
Farm Credit Canada will receive support from the Government of Canada that will allow for an additional $5-billion in lending capacity to producers, agribusinesses, and food processors.
4. Ontario Together: Help Fight Coronavirus
The Government of Ontario welcomes help from businesses and organizations who can supply emergency products and innovative solutions to support their response to Covid-19.
5. Province of Ontario: List of Essential Businesses
All non-essential businesses in Ontario had to close as of Tuesday March 24.
6. Canada Emergency Business Account
The Government of Canada is announcing the launch of the new Canada Emergency Business Account, which will be implemented by eligible financial institutions in cooperation with Export Development Canada (EDC). This program will provide 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, due to the economic impacts of the COVID-19 virus. To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
7. Business Development Bank
The Business Development Bank is providing support for entrepreneurs impacted by the coronavirus COVID-19.
8. Ontario Regional Opportunities Investment Tax Credit
The Ontario Government is proposing to introduce a new 10 per cent refundable Corporate Income Tax credit for capital investments — the Regional Opportunities Investment Tax Credit.
9. Facebook Small Business Grants Program
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where they operate. The announcement includes nearly $3.5 million in grants, virtual training programs, and product features across Facebook’s family of apps to promote local businesses.
10. Ontario-Canada Emergency Commercial Rent Assistance Program
The Ontario government is partnering with the federal government to provide urgent relief for small businesses and landlords affected by the COVID-19 outbreak.
11. Regional Relief and Recovery Fund
The Fund provides financial contributions (interest-free loans) to help to provide targeted assistance to the small towns and communities they serve, CFDCs will focus on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $40,000.
NOTE: The Province has launched a toll-free line 1-888-444-3659 to provide support to Ontario businesses who have questions about the province’s recent emergency order to close at-risk workplaces following recommendations by Ontario’s Chief Medical Officer of Health.
If you have questions, please contact our Economic Development Officer, Rob Hunter at email@example.com