Small Business

1. Canada Emergency Wage Subsidy (CEWS)
This program will provide eligible employers with a subsidy for up to 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020. This program is designed help businesses of all sizes rehire workers and prevent further job loses.
Applications are now open and can be found here

Your business could be eligible for the 10% Temporary Wage Subsidy Program. This is separate from the 75% wage subsidy program and a revenue reduction is not required in order to qualify.

For more info please visit here

2. Canada Emergency Business Account (CEBA)
This program provides $40,000 interest-free loans to eligible small businesses and not-for-profits. Business owners can apply for these loans through their banks and credit unions.

For more information on CEBA loans please visit here

There are other loan options for small and medium-sized business through the Business Credit Availability Program (BCAP).

For more info on other loans for small businesses please visit here

3. Canada Emergency Commercial Rent Assistance (CECRA)

This program will lower rent payments for April, May and June by 75% for small business affected by COVID-19 by providing forgivable loans to eligible landlords.

It is expected that this program will be operational by mid-May. To learn about how this program will work in Ontario please visit here

4. Additional small business support

There is increased funding to support rural businesses and communities. More information from FedDev Ontario can be found here

The CRA is allowing all business to to defer, until September 1, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020. Businesses, including self-employed individuals, are also allowed to defer until June 30, 2020 payments of the GST/HST, as well as customs duty owing on their imports.

For a full list of emergency business support programs offered by the federal government please visit here