The Government of Canada has extended some of the COVID-19 support programs for businesses, and updated criteria for others.
See All Federal COVID-19 Business Supports
Here are some of the updates announced for federal programs:
- The Canada Emergency Wage Subsidy (CEWS) covers 75% of an employee's wages — up to $847 per week. Budget 2021 included an extension of this program to September 25, 2021.
- The Canada Emergency Rent Subsidy (CERS) provides a rent and mortgage subsidy of up to 65% of eligible expenses to small businesses and not-for-profits. Organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can also receive an additional 25% as part of the lockdown support. This subsidy provides payments directly to qualifying renters and property owners, without requiring the participation of landlords. The program has been extended to September 25, 2021.
- The Canada Emergency Business Account (CEBA) provides interest‑free loans of $40,000 to small businesses and not-for-profits. The deadline for new Canada Emergency Business Account applications is being extended from March 31 to June 30, 2021. As of December 4, 2020, hard-hit small businesses and not-for-profits could be eligible for an additional $20,000 CEBA loan, on top of the $40,000 already available. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33 percent (up to $20,000).
- The Canada Recovery Benefit (CRB) supports employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits. You may apply up to a total of 19 eligibility periods (38 weeks) between September 27, 2020 and September 25, 2021.
- Through the Highly Affected Sectors Credit Availability Program (HASCAP), businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
- The Regional Relief and Recovery Fund (RRRF) provides assistance to businesses and communities that may require additional support to cope with and recover from the pandemic. Budget 2021 provided additional funding for this program and extended the deadline to June 30, 2021.
- The Canada Health Communities Initiative is funding projects between $5,000 and $250,000 that help create safe and vibrant public spaces, improve mobility options, and provide digital solutions to help their neighbourhoods or communities navigate the pandemic and look to build back better in the COVID-19 recovery. The application deadline for round 2 is June 25, 2021.
- The COVID-19 Urban Main Street Loan Initiative (UMSLI) will finance day-to-day business operating costs, such as sales and marketing, product development, wages, and other qualified expenses. UMSLI loans are intended for retail shops, restaurants, corner stores and businesses with strategic importance to the community.
Tourism Nova Scotia has compiled a Fact Sheet outlining all the federal and provincial programs and resources currently available for tourism businesses.