CERB AND CECRA EXTENSION

The federal government recently announced extensions to the CERB (Canada Emergency Response Benefit) and CECRA (Canada Emergency Commercial Rent Assistance) programs. CERB The CERB has been extended by 8 weeks and is now available for 24 weeks total (previously 16 weeks). The maximum amount a claimant can receive through CERB is $12,000 (previously $8,000). Claimants…

ALBERTA SMALL AND MEDIUM ENTERPRISE RELAUNCH GRANT

The Small and Medium Enterprise Relaunch Grant offers financial assistance to Alberta businesses, cooperatives, and non-profit organizations that were ordered to close or curtail operations as a result of public health orders, and that experienced a revenue reduction of at least 50 per cent in April and/or May 2020, due to the COVID-19 pandemic. Eligible organizations can…

EXPANDED CEBA ELIGIBILITY APPLICATIONS OPEN FRIDAY

On May 19, the Prime Minister announced expanded eligibility of the Canada Emergency Business Account (CEBA), which provides interest-free loans of up to $40,000 to small businesses. These changes create two CEBA application streams:  1) Payroll stream: for businesses with total employment income paid to employees in 2019 greater than $20,000 and less than $1,500,000 (previously announced…

FIND FINANCIAL HELP DURING COVID-19

The government has released a tool that will allow guide individuals and businesses towards which financial help they may qualify for.  Simply answering the questions with your relevant details will lead you to a narrowed list of possible support measures available to you or your business.  For financial help for individuals, click here.  For financial help for businesses,…

CECRA applications open May 25, 2020

Today, the federal government announced that applications for the CECRA will open on May 25, 2020 at 8:00 am EST.  Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. It offers unsecured, forgivable loans to eligible commercial property owners to:  reduce the rent owed…

Changes to CEBA (Canada Emergency Business Account) eligibility

On May 19, the Prime Minister announced expanded eligibility of the Canada Emergency Business Account (CEBA). The program will now be available to a greater number of businesses that are sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll.  The expanded criteria…

Additional small business assistance is here

The federal government announced additional support for small businesses unable to access existing support measures, such as the CEBA. This additional support is being offered through the Regional Relief and Recovery Fund (RRRF) The RRRF criteria is based on the amount of funding being requested by the business. The intent of the RRRF is to…