Business Supports:
Updated: May 20th
Government Business Support List: https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses
Province-Mandated Business Closures
On April 3rd, the government of Ontario updated the list of non-essential business. For an up-to-date list of businesses that have been deemed essential and will be staying open, visit: https://www.ontario.ca/page/list-essential-workplaces
Canada Emergency Business Account (CEBA) May 19th Expansion
On May 19, the eligibility criteria were expanded to include sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll.
As part of the May 19 expansion, applicants with payroll lower than $20,000 can now qualify. They are required to have a business operating account at a participating financial institution; a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return; and eligible non-deferrable expenses (such as rent, property taxes, utilities, and insurance) between $40,000 and $1.5 million.
The complete announcement from May 19 expanding CEBA can be found here: https://pm.gc.ca/en/news/news-releases/2020/05/19/prime-minister-announces-expansion-support-workers-and-small
Canada Emergency Commercial Rent Assistance (CECRA)
Manufacturers/companies looking to provide supplies
If you are able to manufacture or provide any supplies to help combat COVID-19, please visit: https://buyandsell.gc.ca/calling-all-suppliers-help-canada-combat-covid-19
Farm Credit Canada lending base increased by $5 billion, allowing them to offer greater support to our Ag sector. https://www.fcc-fac.ca/en/about-fcc/media-newsroom/news-releases/2020/lending-capacity-increases-to-alleviate-industry-financial-pressure.html
Links to March 27th Economic Announcements:
Work-Sharing Program - Temporary special measures
English
Coronavirus disease (COVID-19) – Employment and Social Development Canada
English
Export Development Canada COVID-19
English
Business Development Bank of Canada – Support for Entrepreneurs impacted by coronavirus
English
Coronavirus disease (COVID-19): Resources for Canadian businesses
English
COVID-19 subscription for Public Health Updates
English