New Support for Small Business: Canada United Small Business Relief Fund
Applications open October 26 for grants of up to $5,000 to cover costs of personal protective equipment, make physical modifications to business to meet health and safety requirements, and enhance digital/e-commerce capabilities.
For Small Business Week, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, announced an investment of $12 million in the Canada United Small Business Relief Fund.
The Canada United Small Business Relief Fund, which is managed by the OCC, is supporting Canadian businesses across different sectors and industries with grants of up to $5,000. These grants will help thousands of small business owners cover the costs of personal protective equipment, make physical modifications to their businesses to meet local health and safety requirements, and enhance their digital or e-commerce capabilities. This is especially important as we enter the second wave of the pandemic.
Canada United is a national fundraising campaign created by the Royal Bank of Canada (RBC) in collaboration with private sector partners and provincial and territorial chambers of commerce, including the Ontario Chamber of Commerce (OCC). The campaign has been rallying support from Canadians for local small businesses in every corner of the country.
This investment builds on the Government of Canada’s continued support for small and local businesses through a wide range of COVID-19 emergency programs, such as the expanded Canada Emergency Business Account, the Canada Emergency Wage Subsidy and the new Canada Emergency Rent Subsidy.
Quick facts
Starting on October 26, small businesses can apply online through the Ontario Chamber of Commerce for the next wave of Canada United Small Business Relief Fund grants.
Applications are open to small businesses across sectors and industries in every part of the country that have between $150,000 and $3 million in annual sales; have up to 75 employees; are registered in Canada; and would use the grant to cover the costs of personal protective equipment, make physical modifications to their businesses to meet local health and safety requirements, and enhance their digital or e-commerce capabilities.
To support Canadians during the COVID-19 pandemic, the Government of Canada introduced the largest relief package in our country’s history, which includes the following major programs for business owners and their employees:
The Canada Emergency Wage Subsidy (CEWS) is helping businesses by covering up to 75% of payroll, retroactive to March 15 and with the intention of continuing support into summer 2021.
The expanded Canada Emergency Business Account (CEBA) will provide businesses with an additional $20,000 interest-free loan on top of the original $40,000 CEBA loan.
The new Canada Emergency Rent Subsidy, building on the Canada Emergency Commercial Rent Assistance (CECRA), would provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying organizations affected by the pandemic.
The Regional Relief and Recovery Fund (RRRF) is delivered through Canada’s regional development agencies and supports small businesses across Canada that have been unable to access existing relief measures. Originally vested with $962 million, the RRRF has been topped up with an additional $600 million.
In addition to broad support programs, the government’s COVID-19 Economic Response Plan includes targeted measures to help tourism businesses, rural communities, artists and athletes, innovative high-growth businesses, Indigenous-owned businesses, women entrepreneurs, farmers and agri-food businesses, and more.
The new application window will be open on Monday, October 26, 2020.
