Smithers District Chamber of Commerce

Available grants for businesses

January 13, 2021

Northern BC Tourism Resiliency Program

Do you run a tourism-related business? If so, be sure to register for the Northern BC Tourism Resiliency Program. As part of the program, you’ll be matched with a program advisor who can assess your needs and provide guidance on available relief programs for your business. They can also arrange one-on-one expert consultations (free of charge) in areas such as marketing, E-commerce, human resources, and accounting, among others. Learn more

 

Regional Relief & Recovery Fund

Small and medium-sized enterprises (SMEs) are at the heart of our economy and our communities. Community Futures offices are supporting rural small and medium sizes businesses with loans up to $40,000 or less. These businesses should apply through their local Community Futures office if they are eligible. Learn more: https://www.cfnadina.ca/rrrf-regional-relief-and-recovery-fund-community-futures-stream

 

Women's Enterprise Centre - Regional Relief & Recovery Fund (RRRF)

The Government of Canada, through Western Economic Diversification Canada, is providing loans of up to $40,000 for eligible women-run businesses to help small businesses cope with financial hardship and recovery from economic disruption resulting from COVID-19. Learn more

 

Canada Emergency Business Account (CEBA)

As of October 26, 2020, eligible Canadian businesses that currently operate through a personal bank account will be able to apply for CEBA. All applicants now have until December 31, 2020 to apply. This expansion will be available to all eligible previous and new CEBA applicants. CEBA support is being expanded from $40,000 to $60,000 - stay tuned to the CEBA website for more details, including launch details in the coming weeks. Learn more

 

Canada Emergency Business Account (CEBA) UPDATE

December 2020 update: Eligible businesses facing financial hardship as a result of the COVID-19 pandemic are able to access a second CEBA loan of up to $20,000 – on top of the initial $40,000 that was available to small businesses. Half of this additional financing, up to $10,000, will be forgivable if the loan is repaid by December 31, 2022. This means the additional loan effectively increases CEBA loans from the existing $40,000 to $60,000 for eligible businesses, of which a total of $20,000 will be forgiven if the balance of the loan is repaid on time. As announced in the Fall Economic Statement, the application deadline for CEBA has also been extended to March 31, 2021. Read more: https://ceba-cuec.ca/   

 

Provincial Small and Medium Sized Business Recovery Grant

Application Process for Provincial Small and Medium-Sized Business Recovery Grant Program Now Open - Apply Now! The Small and Medium-Sized Business Recovery Grant Program will invest up to $300 million in targeted financial support for some of the hardest hit businesses that employ between two and 149 BC residents and have experienced declines in revenue since March 10, 2020. Grants of $10,000 to $30,000 are available. An additional $5,000 to $10,000 grant is available to eligible tourism-related businesses that have been hit especially hard by COVID-19. The program runs until March 31st, 2021 or until the funds are fully allocated, whichever comes first. Learn more at: www2.gov.bc.ca/gov/content/economic-recovery/business-recovery-grant

 

Canada Emergency Rent Subsidy

The new Canada Emergency Rent Subsidy, which would provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying organizations affected by COVID-19. The rent subsidy would be provided directly to tenants, while also providing support to property owners. The new rent subsidy would support businesses, charities and non-profits that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 per cent of eligible expenses until December 19, 2020. Organizations would be able to make claims retroactively for the period that began September 27 and ends October 24, 2020. 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. More information to follow: https://www.canada.ca/en/department-finance/news/2020/10/government-announces-new-targeted-support-to-help-businesses-through-pandemic.html

 

Canada Emergency Wage Subsidy

The Federal Government announced an extension of the Canada Emergency Wage Subsidy until June 2021, which would continue to protect jobs by helping businesses keep employees on the payroll and encouraging employers to re-hire their workers. The subsidy would remain at the current subsidy rate of up to a maximum of 65 per cent of eligible wages until December 19, 2020. https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html

 

Canada Recovery Benefit (CRB)

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. https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit  

 

Indigenous Community Business Fund

The Indigenous Community Business Fund is providing $117 million in non-repayable financial contributions to help support First Nations, Inuit and Métis community-or collectively-owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic. The fund supports the operation of the businesses as well as costs to support the adaptation, planning and reopening of a businesses. The fund seeks to provide support for businesses that do not qualify for other Government of Canada COVID-19 relief measures. It is intended to relieve financial pressure and allow these businesses and microbusinesses to strengthen operations and support their viability during the pandemic, with the goal of positioning them for recovery. https://www.sac-isc.gc.ca/eng/1596809415775/1596809469296

 

BC Métis COVID-19 Business Support Programs

The existing federal COVID-19 Emergency Response Loan is now offering more generous funding, with additional funds available for Métis financial institutions in BC. Métis-owned businesses are now eligible to apply for as much as $60,000 in COVID funding, including $40,000 in loans and $20,000 in grants. Métis businesses that have already received approval for as much as $40,000 in AFI-financed loans are now eligible to apply for a maximum additional $20,000 in top-up loans, with up to $10,000 provided as a grant. For more information: https://mfcbc.ca/bc-metis-covid-19-business-support-programs/

We have tried to build on what Don and Tom started here years ago. Our philosophy is somewhat simple, we try to work hard every day and provide straightforward communication with our customers. We tell our staff, ‘treat our customers like we ourselves would like to be treated.’

-Mitch, Tyler and Don Pederson, Co-owners, AquaNorth Plumbing and Heating

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