Financial Support

Information on federal government programs and initiatives that support businesses and their employees.

If you aren’t sure which supports you may be eligible for, the best place to start is with the Benefits Finder, which guides you towards programs that may help based on your answers to a few short questions.

The tool is available for both businesses (including non-profits and charities) and individuals.

The complete list of programs and supports available from Finance Canada through Canada’s COVID-19 Economic Response Plan is available on the Government of Canada’s website.

Sector-specific Supports

Detailed information is contained within the “Support for sectors” section of the Economic Response Plan, available here.

Additional support for businesses is also available through non-sector specific federal programs or regional development agencies. Use the “Find financial help during COVID-19” tool, which guides you towards programs that may help based on your answers to a few short questions. The tool is available for businesses (including non-profits and charities) here.

Large Employer Emergency Financing Facility (LEEFF)

The LEEFF program is meant to provide bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going. The objective of this support is to help protect Canadian jobs, help Canadian businesses weather the current economic downturn and avoid bankruptcies of otherwise viable firms where possible.

More information is available here.

Canada Emergency Rent Subsidy (CERS)

Canadian businesses, non-profit organizations or charities that have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expense until June 2021.

More information and applications are available here.

Canada Recovery Caregiving Benefit (CRCB)

CRCB will provide $500 per week (taxable, tax deducted at source) for up to 26 weeks per household for workers 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, or 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. This benefit will be paid in one-week periods.

More information is available here.

Canada Recovery Sickness Benefit (CRSB)

CRSB will provide $500 per week (taxable, tax deducted at source) for up to a maximum of two weeks for workers who are unable to work for at least 50% of the week because they contracted COVID-19, self-isolated for reasons related to COVID-19, or have underlying conditions, are undergoing treatments or have contracted other sicknesses that, in the opinion of a medical practitioner, nurse practitioner, person in authority, government or public health authority, would make them more susceptible to COVID-19. This benefit will be paid in one-week periods.

More information is available here.

BDC Financial Support and Resources for Business Impacted by the Crisis

BDC is here to help your business take action during the recovery. A variety of financing options are still available to support you through to a more stable time. Click here to learn more.

Small Business Relief Fund Grant Recipients

As part of its Canadian Business Resilience Network campaign, the Canadian Chamber of Commerce, through the generosity of Salesforce (NYSE:CRM), provided 62 small Canadian businesses from coast to coast to coast with $10,000 grants to help their recovery efforts during these unprecedented times.