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November 24th, 2020 | COVID-19 Government and Business Support Updates

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CENTRE WELLINGTON CHAMBER OF COMMERCE PROVIDES COVID-19 GOVERNMENT AND BUSINESS SUPPORT UPDATES

 CEWS - Canada Emergency Wage Subsidy extended to June 2021
New measures to support small businesses negatively affected by the COVID-19 pandemic were announced in September's Federal Speech from the Throne and in November's Ontario Budget Update. Many updates required additional details and legislation, we continue to monitor progress and provide updates as they become available.  
 
On November 19, the most recent Federal legislation in support of COVID-19, Bill C-9, came into law and includes:
CERS - Canada Emergency Rent Subsidy to cover period from September 27, 2020 to June 2021
This new program is an improvement of the previous Canada Emergency Commercial Rent Assistance Program (CECRA).
 
Canada Emergency Rent Subsidy (CERS) is a new program that subsidizes a percentage of rent and mortgage expenses from September 27, 2020 until June 2021 for qualifying organizations.
 
CERS is provided directly to tenants and details up until December 19, 2020 have been announced thus far.
 
The maximum base rate subsidy of 65% is available to organizations with a revenue drop of 70% or more. The base rate would then decline on a sliding scale to a rate of 40% for organizations with a revenue drop of 50% and would gradually reduce to zero for those not experiencing a decline in revenues.
 
If an organization has been temporarily shut down by a mandatory public health order issued by a qualifying public health authority, an additional Lockdown Support of 25% of rent and mortgage expenses could be subsidized.
 
Applications can be made through CRA My Business Account or Represent a Client.
CEBA - Canada Emergency Business Account deadline extended
The Canada Emergency Business Account (CEBA) program provides interest-free loans of up to $40,000 to small businesses and not-for-profits.Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent.
 
As of October 26, 2020, eligible Canadian businesses currently operating through a personal bank account will be able to apply for CEBA. All applicants now have until December 31, 2020, to apply for CEBA.
 
*COMING SOON* CEBA support is being expanded from $40K to $60K. This expansion will be available to all eligible previous and new CEBA applicants who can attest to the impact of COVID-19. Half of this additional financing would be forgivable if repaid by December 31, 2022. Stay tuned for more details, including launch details in the coming weeks.
Main Street Relief Grant for PPE available for businesses in retail,  accommodation and food services, repair and maintenance, personal and  laundry services, and gyms and yoga studios
This grant through the Ontario government, for eligible small businesses with 2 to 9 employees in the industries listed and linked below and offers up to $1000 to help offset the added costs for PPE through the COVID-19 pandemic.
 
713940 - Gyms and yoga studios
Personal Supports - CERB, CRSB, CRCB, & CRB
CERB is now ended and new COVID-19 emergency benefits are available for Canadians facing hardship as a result of the pandemic.
 
 
  • A Canada Recovery Caregiving Benefit (CRCB) of $500 per week for up to 26 weeks per household, for eligible Canadians unable to work 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 or because the child or family member is sick and/or required to quarantine. 
 
  • A Canada Recovery Benefit (CRB) of $500 per week for up to 26 weeks, to workers who are self-employed or are not eligible for EI, to support those who have not returned to work due to COVID-19 or whose income has dropped by at least 50%. These workers must be available and looking for work, and must accept work where it is reasonable to do so.
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