We will do our best to keep this information current. Updates can be found in the news feed on the CWCC Website. Please know that these programs are being developed and put in place, but all of these systems are being well used and it may take time in some cases to get a response. Please be patient.
1. Temporary Business Wage Subsidy
- Eligible small employers - temporary wage subsidy for a period of three months.
- The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
HOW TO APPLY:
Bill.Morneau@canada.ca
Department of Finance
General enquiries:
Phone: 1-800-959-5525
*Special phone line to be provided – will update once published
2. Employment Support Measures for Business
Emergency Support Benefit & Emergency Care Benefit
- Up to $900 biweekly, up to 15 weeks, to provide income support to workers, including the self-employed, who have to stay home and don't qualify for paid sick leave or employment insurance.
HOW TO APPLY:
This will become available in April and will be retroactive to March 15, 2020. Applications will be made via CRA Employment Insurance Benefits
Have an EI claim in process but have since been diagnosed with COVID-19?
Please call 1-833-381-2725
3. Tax Deferment
- Deferred until August 31, 2020, the payment tax amounts that become owing on or after March 18 and before September 2020. No interest or penalties will accumulate on these amounts during this period.
HOW TO APPLY:
No application needed
4. Business Credit Availability Program (BCAP)
Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support largely targeted to small and medium-sized businesses (as defined by 499 employees or less).
Released as of March 18, new relief measures for qualified businesses include:
- Working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for qualifying businesses
- Postponement of payments for up to six months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less
- Reduced rates on new eligible loans.
HOW TO APPLY:
BDC Website
EDC Website
5. Mortgage Payment Deferrals
The six largest banking institutions in Canada have made a commitment to work with personal and business banking customers on a case-by-case basis to provide flexible solutions to help them manage through various challenges.
This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.
HOW TO APPLY:
This will be done on a case-by-case basis and requires a direct call to your bank.
Here are the helplines for each institution:
BMO: 1- 877-788-1923
CIBC: 1-877-454-9030
RBC: 1-800-769-2511
Scotiabank: 1-833-315-4357
TD: 1-888-730-0075
National Bank: 1-844-394-4494
6. Purchase Order Financing
Cover up to 90% of the purchase order amount to ease cash flow to your suppliers.
- Work-Sharing Program | Temporary special measures for the downturn in business due to COVID-19 and for the forestry and steel and aluminum sector
HOW TO APPLY:
BDC Website
7. Work Sharing Program: Forestry, Steel, Aluminum Sectors
- Temporary special measures for the downturn in business due to COVID-19 and for the forestry and steel and aluminum sector
HOW TO APPLY:
Please apply at least 30 days before you want the temporary special measures to begin.
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