New Grant Program: Small & Medium Business Recovery Grant
The Thompson Okanagan Tourism Association (TOTA) recommends that you review the details of the new Small and Medium Business Recovery Grant program, offered through the Province of British Columbia.
The $300 Million Small and Medium Business Recovery Grant program will provide grants to B.C. businesses that employ between 2 and 149 B.C. residents and that have experienced declines in revenue since March 10, 2020.
The program will run until March 31, 2021 or until funds are fully deployed.
The B.C. 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 in B.C. Grants of $10,000 to $30,000 are available and an additional $10,000 will be available to eligible tourism-related businesses that have been hit especially hard by COVID-19.
The Recovery Grant is a five-step process:
The Recovery Grant is a five-step process:
Businesses apply for funding and provide information to demonstrate that they meet the eligibility criteria.
A business that meets the eligibility criteria will be matched with a professional services provider who will help develop a recovery plan or assess the business’s current one (a value up to $2000 in professional services, in addition to the grant amount).
Once a recovery plan is developed, submitted and if approved, funding will be provided to the business applicant to implement the actions outlined in the recovery plan.
Successful applicants must provide regular updates accounting for the spending and status of their recovery efforts that have been supported by grant funding.
All businesses agree to participate in a third-party audit at the end of the grant program.
For more information, email BusinessRecoveryGrantProgram@gov.bc.ca, or phone 1-833-254-4357.
For a complete list of eligibility criteria, required documents, and to fill out an online application, visit: www.BCBusinessRecoveryGrant.com.
Additional Information
If you are part of the Tourism Resiliency Program and have questions about this grant opportunity, please contact your program advisor directly.
For more information about the Thompson Okanagan Resiliency Program and to register visit TOTABC.org/Tourism-Resiliency, register by phone: 1-877-431-8489 (ext 8) or email recovery@totabc.com.
