Canada Emergency Wage Subsidy (CEWS)

As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages, retroactive from March 15, 2020. This wage subsidy will enable re-hiring workers who had previously been laid off as a result of COVID-19. Businesses of all sizes, across all sectors, including not-for-profits and charities could be eligible for this program. Click here for more information.

Canada Emergency Business Account (CEBA)

CEBA is offering interest-free, partially forgivable loans of up to $40,000.  To date, over half a million loans have been approved. To support even more small businesses, we are expanding the eligibility requirements of CEBA to allow businesses with between $20,000 and $1.5 million in annual payroll to apply. Click here for more information.

Canada Emergency Commercial Rent Assistance (CECRA)

Delivered by CMHC in partnership with all provinces and territories, this program will provide forgivable loans to commercial property owners who in turn lower the rent of their tenants by 75%.  These loans will cover up to 50% of tenants’ monthly rent and will be forgiven at the end of the program. Eligible small businesses will be defined as those with less than $50,000 per month in rent and who have temporarily ceased operations or have experienced at least a 70 % drop in pre-COVID-19 revenues. This support will also be available to non-profit and charitable organizations. Click here for more information.

Business Credit Availability Program (BCAP)

We established this program to provide additional support through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC). BDC and EDC are working with private-sector lenders to coordinate on credit solutions for individual businesses. This program includes Loan Guarantee for Small and Medium-Sized Enterprises. Through the BCAP, EDC is working with financial institutions to guarantee 80% new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs). This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies. Contact your financial institution for more information.

Regional Relief and Recovery Fund (RRRF)

For those who do not qualify for the programs above, the Government of Canada has created a Regional Relief and Recovery Fund. In Quebec funding and support to businesses will be administered through the Canada Economic Development for Quebec Regions (CED). It will provide $675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada’s Regional Development Agencies. For more information please visit: dec.canada.ca To use the EDC's assistance tool please visit: https://www.edc.ca/en/campaign/coronavirus-covid-19.html