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Updated: August 2, 2022
Corporate Assistance Programs
Note: Most of the programs presented have ended or are near the end of their duration. Some of these still take applications for a limited amount of time after the announced application deadline.
BDC - Business Development Corporation
Program Status: Ended.
Applicants who repay the balance of the loan before December 31, 2023 can receive loan forgiveness of up to $20,000.
For more information, click here.
Update: January 12, 2022 - Repayment deadline extension - update
On January 12, 2021, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, and the Minister of Small Business, Export Promotion and International Trade, the Honourable Mary Ng, announced that the deadline for CEBA loans to qualify for partial loan forgiveness will be extended by two years from 31 December 2022 to 31 December 2023. Repayment on or before the new deadline of December 31, 2023, will result in loan forgiveness of up to a third of the value of the loans (meaning up to $20,000). Outstanding loans would convert to two-year term loans with a 5% interest rate commencing on January 1, 2024, with the loans due by December 31, 2025.
September 23, 2020 expansion & extension of the CEBA
On September 23, 2020, the federal government announced the following updates to the program:
More details to follow in the coming weeks.
June 30, 2021 - the deadline has passed - update
The application period of the CEBA program ended on June 30, 2021. The deadline for participants to submit additional information until September 10, 2021. New applicants can no longer apply for a CEBA loan of $60,000 or the expansion of $20,000 at their financial institution.
March 22, 2021 - announcement of the CEBA application until June 30, 2021.
On March 22, 2021, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, and the Minister of Small Business, Export Promotion and International Trade, the Honourable Mary Ng, announced that the deadline for the new Canada Emergency Business Account (CEBA) applications is being extended from March 31 to June 30, 2021.
December 4, 2020, CEBA applications under the extended CEBA loan program are open
Two financing programs are available through the BCAP
Both programs are administered by private-sector financial (banking) institutions.
In order to be eligible, your business must have been impacted directly or indirectly by recent events and have been financially viable prior to the impact of COVID-19.
Canada Emergency Business Account (CEBA)
Application procedure
Both the Canada Emergency Business Account and SME Loan and Guarantee program will be administered by private-sector financial institutions (banks).
The application process contains 2 streams:
Conditions for the Non-Deferrable Expense Stream:
CEBA Specification of the Forgivable portion.
The CRA confirmed details concerning that income is included in the portion of the interest-free loan. It should be included:
For more details click here.
Program Status: Ended.
Program deadline: May 7, 2022.
Claims for wage and rent subsidies after the application deadline of May 7, 2022, are no longer applicable. Some claim periods are still open until their respective deadline. For each period, you have to make sure you're eligible. Please note that this program has different eligibility conditions depending on the period of application.
For more information, click here.
Note: Businesses can apply for support up to 180 days after the end of the claim period for which they are applying.
On December 22, 2021, Chrystia Freeland, the federal Minister of Finance, announced the introduction of Bill C-2. Which includes the new Local Lockdown Program for businesses facing closure due to COVID-19 through the wage and rent subsidy programs.
Eligible companies:
Wage and Rent Subsidy rates under Local Lockdown Program
Current Month Revenue Decline |
Period 24-25: Dec 19 2021 – Feb 12, 2022
|
75% and over |
75% |
25 - 74% |
Revenue decline e.g. 50% decline = 50% subsidy rate |
0 - 24% |
0% |
For more information on the application process, click here.
Tourism and Hospitality Recovery Program (THRP)
Program Status: Ended.
Program deadline: May 7, 2022.
Claims for wage and rent subsidies after the application deadline of May 7, 2022, are no longer applicable. Some claim periods are still open until their respective deadline. For each period, you have to make sure you're eligible.
For more information, click here.
Note: Businesses can apply for support up to 180 days after the end of the claim period for which they are applying.
On December 22, 2021, Chrystia Freeland, the federal Minister of Finance, announced the introduction of Bill C-2. The Tourism and Hospitality Recovery Program and the Hardest Business Recovery Program. This promotes support for rent and wage support. This new program is entitled to support businesses that are also not part of the tourism, hospitality, arts, entertainment, and recreation sectors. This program now offers support to the following organizations:
Eligibility:
For more information on the application process, click here.
Hardest-Hit Business Recovery Program
Program Status: Ended.
Program deadline: May 7, 2022.
Claims for wage and rent subsidies after the application deadline of May 7, 2022, are no longer applicable. Some claim periods are still open until their respective deadline. For each period, you have to make sure you're eligible.
For more information, click here.
Note: Businesses can apply for support up to 180 days after the end of the claim period for which they are applying.
On October 21, 2021, Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that for businesses that continue to face post-pandemic challenges, there are 2 streams available for support. The Tourism and Hospitality Recovery Program and the Hardest Business Recovery Program. This promotes support for rent and wage support.
Eligibility:
Period 22 - 26 Oct 24, 2021 - Mar 12, 2022 |
Period 27-28 Mar 13 - May 7 2022 |
|
Currently month revenue decline | ||
75% and over |
50% |
25% |
50% - 74% |
10% + (revenue decline – 50%) x 1.6 e.g., 10% + (60% revenue decline – 50%) x 1.6 = 26% subsidy rate |
5% + (revenue decline – 50%) x 0.8 e.g., 5% + (60% revenue decline – 50%) x 0.8 = 13% subsidy rate |
0% -49% |
0% |
0% |
The subsidy:
The calculation:
The subsidy rate would start at 10 percent for businesses with a 50 percent revenue decline in the current month, increasing to 50 percent for businesses with a 75 percent or higher revenue decline. The rent and subsidy rates would be reduced by half from March 13 to May 7, 2022.
Additional support will be given to municipalities and cities experiencing lockdown support.
For more information click here.
Canada Recovery Hiring Program (CRHP)
Program status: Ended.
Program deadline: May 7, 2022.
Claims for wage and rent subsidies after the application deadline of May 7, 2022, are no longer applicable. Some claim periods are still open until their respective deadline. For each period, you have to make sure you're eligible.
For more information, click here.
Note: Businesses can apply for support up to 180 days after the end of the claim period for which they are applying.
Nov 24, 2021: Program Update - End of CEWS Program
On November 24, Chrystia Freeland, the federal Minister of Finance, announced the proposed introduction of Bill C-2. The Canada Recovery Hiring Program (CRHP) is extended and replaces the CEWS and CERS. Support will be available through three new streams:
More details to come by December 2021.
For more information about the announcement. Click here.
Current Claim Periods:
Deadlines for claim periods:
Subsidy rates for the Periods 17 to 22:
Period 17: June 6 – July 3
|
Period 18: July 4 - July 31
|
Period 19: August 1 - 28
|
Period 20: August 29 - Sept 25
|
Period 21: Sept 26 - October 23
|
Period 22: October 24 - November 20
|
|
Subsidy Rate |
50% | 50% | 50% | 40% | 30% | 20% |
For more information of the details of the program click here.
October 21, 2021 Government Update
On 21 October 2021, Chystia Freeland, deputy prime minister and finance minister, announced the extension of the Canadian Recovery Hiring Program. The following changes will be applied:
For more information click here.
June 2, 2021 Government Update
On June 2, 2021, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, and the Minister of Small Business, Export Promotion and International Trade, the Honourable Mary Ng, announced that the new Canada Recovery Hiring Program would be available commencing June 6, 2021. This program works similarly to the CEWS program. The government allows the participants to claim the greatest benefit according to the period.
The details about the program are the following:
Eligible employers
Eligible employees
Key Elements
The Subsidy Amount
Employers will compare the amount of money they paid to their workers in March, April, May and June of last year with the amount they paid in July, August, September and October of this year. The subsidy rate for the qualifying period is then multiplied to determine the subsidy amount.
The Revenue Decline Threshold
Recovery wage subsidy rates for the Periods 17 to 20:
Period 17: June 6 – July 3
|
Period 18: July 4 - July 31
|
Period 19: August 1 - 28
|
Period 20: August 29 - Sept 25
|
Period 21: Sept 26 - October 23
|
Period 22: October 24 - November 20
|
|
Recovery Wage Subsidy | 50% | 50% | 50% | 40% | 30% | 20% |
For more information click here.
April 19, 2021, Government Update
On April 19, Chrystia Freeland, the federal Minister of Finance, announced the proposed following changes in the Canadian 2021 budget. She announced the introduction of a new program called the New Canada Recovery Hiring Program (CRHP). This new proposed program is an alternative to the CEWS and, to encourage recruitment, certain employers can claim. Key features of the program are:
Eligible employers:
Duration:
Key elements:
More details to come.
For more information click here.
Program duration: September 24, 2022.
Work-Sharing is a program to avoid lay-offs when there is an uncontrollable temporary decrease in business activity. The program provides EI benefits to eligible employees who agree to reduce their normal working hours.
To be eligible, your business must:
To be eligible for work-sharing benefits, your employees must:
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