Information about financial supports and funding options for business dealing with the consequences of COVID-19. A list of Canada’s COVID-19 Economic Response plan can be found at the Canada Recovery Benefit webpage.  

Key Canadian/Alberta Government Programs

  • Canada Emergency Wage Subsidy (CEWS): As a Canadian employer who has seen a drop in revenue during the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages, retroactive to March 15, 2020. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease your business back into normal operations. 
  • Canada Recovery Benefit (CRB): The Canada Recovery Benefit (CRB) gives income support to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits. The CRB is administered by the Canada Revenue Agency (CRA). 
  • Regional Relief and Recovery Refund: As part of Canada’s COVID-19 Economic Response Plan, the RRRF is assisting businesses and organizations across Canada to mitigate financial pressures caused by the pandemic. To help keep more people employed, and to sustain more employers for recovery, the Government of Canada is increasing the RRRF by $500 million, bringing total funding to over $2 billion – 25 percent of which is earmarked for the struggling tourism sector. 
  • Canada Emergency Business Account (CEBA): This $55 billion program provides interest-free loans of up to $60,000 to small businesses and not-for-profits. 
  • 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, and that experienced a revenue reduction of at least 30%, as a result of the COVID-19 pandemic.

Key Canadian/Alberta Government Programs for Businesses

  • Business Credit Availability Program (BCAP): To cover payroll and operating costs caused by the current economic situation.
  • Canada Emergency Rent Subsidy (CERS): The Canada Emergency Rent Subsidy (CERS) provides a direct and easy-to-access rent and mortgage subsidy of up to 65% of eligible expenses to qualifying businesses, charities and non-profits. The subsidy rates are in effect until December 19, 2020. This support is available directly to tenants. Lockdown Support. Qualifying organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the Lockdown Support. The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits and charities subject to a lockdown can receive rent support of up to 90%. The rent subsidy and the Lockdown Support are available until June 2021. 
  • Canada Emergency Wage Subsidy (CEWS): We are covering up to 75% of an employee’s wages for qualifying eligible employers, with this subsidy rate in effect until March 13, 2021. The wage subsidy supports you to keep and re-hire your employees and avoid layoffs.
  • Expanded Work Sharing Program: We have extended the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.
  • Regional Relief and Recovery Refund (RRRF) 
  • Taxes and Tariffs on Certain Medical Goods: We are waiving tariffs on certain medical goods, including PPE such as masks and gloves. This will reduce the cost of imported PPE for Canadians, help protect workers, and ensure our supply chains can keep functioning well.
  • Canada Emergency Business (CEBA) interest fee loans: The Canada Emergency Business Account (CEBA) provides interest-free, partially forgivable, loans of up to $60,000, to small businesses and not-for-profits, that have experienced diminished revenues due to COVID-19 but face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes and wages. We have recently expanded CEBA to include an additional interest-free $20,000 loan, 50% of which would be forgivable if repaid by December 31, 2022. This means the additional loan effectively increases CEBA loans from the existing $40,000 to $60,000 for eligible businesses, of which a total of $20,000 will be forgiven if the balance of the loan is repaid by December 31, 2022. Business owners can apply for support until March 31, 2021 through their banks and credit unions.
  • Loan Guarantee for Small and Medium-Sized Enterprises: Through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs). This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies. This program is now available at various banks and credit unions. This support is available until June 2021. 
  • Co-Lending Program for Small and Medium Sized Enterprises: Through the Business Credit Availability Program, Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements. The program offers differing maximum finance amounts based on business revenues. This program is now available at various banks and credit unions. This support is available until June 2021.
  • Canada United Small Business Relief Fund: The Canada United Small Business Relief Fund provides relief grants of up to $5,000 to small businesses. The grant can be used for specific efforts: purchasing PPE, renovating physical spaces, or developing your website or e-commerce capabilities.
  • Supporting Black business owners and entrepreneurs through the Black Entrepreneurship Loan Fund: We are supporting Black business owners and entrepreneurs through the Black Entrepreneurship Loan Fund that will provide loans of between $25,000 and $250,000. This initiative is part of the Black Entrepreneurship Program; in which we are investing up to nearly $93 million. More details on eligibility requirements and how to apply will be available soon. 
  • Mid-Market Financing Program: Through the Business Credit Availability Program, the Business Development Canada’s (BDC) Mid-Market Financing Program will provide commercial loans ranging between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures. BDC anticipates that qualifying companies will have annual revenues in excess of approximately $100 million. This support is available until June 2021. 
  • Mid-Market Guarantee and Financing Program: Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 % of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million. These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada. 
  • Large Employer Emergency Financing Facility (LEEFF): Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 % of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million. These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada. 
  • Canada Recovery Benefit (CRB): The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI).
  • Canada Recovery Sickness Benefit (CRSB): The CRSB provides $500 per week for up to a maximum of two weeks, for workers who: 
    • unable to work for at least 50% of the week because they must care for a child under the age of 12 or family member because schools, day-cares or care facilities are closed due to COVID-19 
    • because the child or family member is sick and/or required to quarantine or is at high risk of serious health implications because of COVID-19. 

Key Canadian/Alberta Government programs for individuals, students, seniors, and families

  • Canada Recovery Benefit (CRB): The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI).
  • Employment Insurance Benefits and Leave: We made temporary changes to the Employment Insurance (EI) program to better support Canadians who need financial assistance. As of September 27, 2020, the minimum benefit rate is $500 per week before taxes in most cases. 
  • Seniors Financial Assistant Programs: The primary source of income for seniors (65 years of age or older) is provided by the Government of Canada through the Guaranteed Income Supplement and Old Age Security. 
  • Mortgage Payment Deferral: Homeowners facing financial hardship may be eligible for a mortgage payment deferral. The deferral is an agreement between you and your lender. Typically, the agreement indicates that you and your lender have agreed to pause or suspend your mortgage payments for a certain amount of time. After the agreement ends, your mortgage payments return to normal and the deferred payments — including principal and accumulated interest – are added to the outstanding principal balance and subsequently repaid throughout the life of the mortgage. To know if you are eligible for a mortgage payment deferral or to learn what options are available, contact your lender — your bank or your mortgage professional.

Key Canadian/Alberta Government programs for Indigenous Peoples

  • Supporting Indigenous communities: We are providing $100 million to support a range of federal health measures, including support for preparedness in First Nation and Inuit communities.
  • Boosting the On-Reserve Income Assistance Program: We are providing $270 million to supplement the On-Reserve Income Assistance Program to address increased demand on the program, which will help individuals and families meet their essential living expenses. It will also help hire additional staff to better serve First Nations communities and connect individuals to other government programs. First Nations administer the On-Reserve Income Assistance Program. Program staff members play an important role in helping individuals with other needs, including providing referrals to mental health and addictions counselling, and helping families find and apply for appropriate government benefits, such as Employment Insurance, the Canada Emergency Response Benefit, and the Canada Child Benefit.