COVID-19 Emergency Financing
Government extends loan forgiveness repayment deadline for the Canada Emergency Business Account
The deadline for repayment of CEBA loans has been extended by one year.
The repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing. This includes lending through the RRRF.
Ontario Providing Supports for Small Businesses, Workers, Families
Ontario Government is providing targeted relief for businesses and people impacted by the current public health measures aimed at blunting the spread of the Omicron variant.
As part of this plan, the government is introducing a $10,000 grant for eligible businesses that are subject to closures under the modified Step Two of the Roadmap to Reopen and is providing additional electricity-rate relief for businesses, as well as workers and families spending more time at home.
Businesses: Get help with COVID-19 costs
Ontario is providing extra support for businesses required to close or significantly restrict services as a result of provincial public health measures. For example, restaurants and gyms can apply for a rebate equal to 100 per cent of their costs. Other operations who’ve had to reduce capacity, like small retail stores, can apply for a rebate equal to 50 per cent for their costs.
Here is the link to start your application: https://www.app.grants.gov.on.ca/obcrp/#/
The following types of businesses are eligible for support:
- Restaurants and bars
- Personal care services relating to the hair or body
- Retailers less than 50,000 sq ft (Non-grocery)
- Small grocery stores less than 5,000 sq ft
- Gyms and other facilities used for indoor sports and recreational fitness activities (including indoor spectator sports)
- Places of worship
- Indoor meeting and event spaces available for rent
- Indoor concert venues, theatres and cinemas
- Casinos, bingo halls, and other gaming establishments
- Indoor portion of horse and car racing tracks
- Indoor museums, galleries, aquariums, zoos, science centres, landmarks, historic sites, botanical gardens and similar attractions
- Indoor clubhouses at outdoor recreational amenities
- Indoor business associated with tour and guide services
- Oxygen bars
- Steam rooms and saunas
- Bathhouses and sex clubs
- Indoor teaching and instruction centres
- Indoor driving instruction centres
- Day camps and overnight camps for children
- Before- and after-school programs
- Pet and veterinary services
Regional Relief and Recovery Fund
The application period for the RRRF is now closed.
COVID-19 Resources for Canadian Small Businesses
Click here for more information on what the Federal Government is doing to help small businesses.
- Support for Employees
- Support for Businesses
- Business Travel and Events
- Business in International Markets