Links to Financial Assistance for Industry Individuals and Businesses
Targeted Sector Impact Program: February 2022.
A cosmetologist directly affected by recent health orders that prevented the removal of masks for cosmetology services can apply for a one-time grant of $2,500 to help cosmetology businesses and practitioners. A second grant of $2,500 is available for businesses (this would typically be for those business that have more than one employee) with a gross revenue of $45,000 or more in November 2021. Applications open 25 February 2022.
Canada Emergency Wage Subsidy:
As an employer who has seen a drop in revenue during the pandemic, you may be eligible for a subsidy to cover part of your employee wages, enabling you to re-hire workers, help prevent further job losses, and ease your business back into normal operations. This is available until September 25th, 2021 but will decline over time.
Canada Emergency Rent Subsidy:
Businesses, non-profit organizations, or charities that have seen a drop in revenue during the pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses. Extended to September 25th, 2021. This program provides up to 65% of rent plus a top of 25% during the lockdown. This does not require landlord approval.
Canada Emergency Business Account:
If you are a small business or non-profit, you may be eligible for an interest-free loan of up to $60,000. This is the program that provided $40,000 and an additional $20,000 for a total of $60,000 of which $20,000 will be forgiven.
EI has changed to support more Canadians through the pandemic. Read more at the link below.
Canada Recovery Benefit:
Income support may be available to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits.
Canada Recovery Caregiving Benefit:
Income support may be available to employed and self-employed individuals who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care.
Canada Recovery Sickness Benefit:
Income support may be available to employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19, or have an underlying health condition that puts them at greater risk of getting COVID-19.
Highly Affected Sectors Credit Availability Program:
Businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
Regional Relief and Recovery Fund:
If your business has been rejected by or was unable to access other federal pandemic support programs or continue to have liquidity needs, you may be eligible for funding through ACOA.