Call for proposals by Women and Gender Equality Canada
With funding of $100 million, the objective of this call for proposals is to fund eligible organizations in addressing systemic inequalities, which have disproportionately affected women and girls in the pandemic crisis.
This funding will allow recipient organizations to launch new projects or scale up past projects that increase women and girls’ participation in Canada’s economic, social, democratic and political life.
Deadline for proposals: March 25, 2021, at 12:00 p.m. (noon) Pacific time.
Small- and medium-sized Canadian-based businesses hard hit by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million.
You must have received payments either from the Canada Emergency Subsidy (CEWS) or the Canada Emergency Rent Subsidy (CERS) by having shown at least a 50% revenue decline for at least three months (not necessarily consecutive) within the eight-month period prior to applying to HASCAP.
You have up to 10 years to repay the loan, including a possible twelve-month deferment on principal payments at the beginning.
The program runs from February 1, 2021 to June 30, 2021.
Apply through your primary financial institution. See more program details here, including a downloadable one-page reference sheet to aid in the conversation with your financial institution.
How to access program: Businesses seeking support through BCAP should first contact their financial institutions for an assessment of their situation. Financial institutions will refer to EDC and BDC their existing clients whose needs extend beyond what is available through the private sector alone.
Provides credit and cash flow term loans to small and medium-sized Canadian businesses in all sectors that were otherwise financially viable and revenue generating prior to the COVID-19 outbreak
Financial institutions can issue operating credit and cash flow term loans of up to $6.25 million to existing clients, with 80 per cent guaranteed by EDC
See list of the 38 financial institutions offering the BCAP Guarantee here
Please contact your financial institution for application details
Additional EDC Supports:
EDC also provides support through their insights, tools and advice offerings like Export Help Hub. Through a MyEDC account Canadian businesses can access free services and information. Standard EDC programs are also available to support Canadian companies with international trade.
December 7, 2020 update: Banks can now lend up up to $60,000 in government-backed loans to eligible owner-operated small businesses, to help them cover their operating costs during this time when their revenues are reduced. This is an increase of $20,000 from the original CEBA amount of $40,000. If you have already received the $40,000 CEBA loan, you can apply for the additional $20,000. The deadline to apply for either the full $60,000 CEBA loan or the $20,000 increase is March 31, 2021. Learn more here.
There is zero interest charged until December 31, 2022. By repaying 75% of your loan on or before December 31, 2022, you can keep the remaining 25% (up to $10,000). If the loan cannot be repaid by December 31, 2022, it can be converted into a three-year term loan with an interest rate of 5%. Contact your primary financial institution to apply.
The business is Canadian-based and in operation as of March 1, 2020.
The business’s 2019 payroll was between $20,000 and $1.5 million.
The loan is used to continue or resume operations.
You have not previously used the program and will not apply for it at a different financial institution.
Offered through the Industrial Research Assistance Program (IRAP)
IRAP IAP provides a wage subsidy to eligible employers for up to 12 weeks.
SMEs pursuing technology-driven innovation who have been unable to secure funding under the Canada Emergency Wage Subsidy (CEWS) are eligible and can apply for financial assistance under IRAP IAP.
November 6, 2020 update: The Government of Canada announced over $155 million to extend Innovation Assistance Program funding for existing recipients. Over the coming weeks, existing IAP recipients will be contacted with more information.
Canadian businesses, non-profits or charities who lost revenue due to COVID-19 may qualify for a subsidy (up to 65%) to cover part of commercial rent or property expenses. The program runs from September 27, 2020 until June 2021.
If you are eligible for the base subsidy, you may also qualify for lockdown support if your business location is significantly affected by a public health order for a week or more.
Applications now open: As of November 23, 2020, you can submit applications for the first period of the program (September 27 to October 24, 2020). A CERS application must be filed no later than 180 days after the end of a claim period. You can apply for the next period (October 25 to November 21, 2020) as of November 30, 2020. See the CERS Technical Guidance page for support.
Loans of up to $50,000 will be available to small and medium-sized businesses that are either ineligible for, or unable to access, existing federal and provincial COVID-19 response initiatives for small businesses.
Loans will be available through Aboriginal Financial Institutions.
Up to 50% of each loan will be in the form of a non-repayable grant, with no interest due on the loan portion until December 31, 2022.
Provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by COVID-19
The fund is delivered by Canada’s six regional development agencies
February 11 update: The federal government has increased funding for the RRRF by $500 million, of which $250 million will be directed to Western Canada. New applicants can now receive a loan of up to $60,000. Existing program recipients can apply for a top-up of up to $20,000. See more details here.
Support for southern Ontario SMEs that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures.
Applicants have two options (see more details here):
Option 1: Up to $60,000 conditionally repayable interest-free loan. On the first $40,000, repaying 75% on or before Dec 31, 2022 will result in loan forgiveness of up to 25% (or $10,000). For amounts above $40,000 and up to $60,000, the terms of forgiveness increase to 50%.
Option 2: Between $40K and $1 million fully repayable, interest-free loan.
This adjustment program is designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer.
What’s new: The Government of Canada will enhance this program at an estimated cost of$12 million to help employers who are experiencing a downturn in business due to COVID-19, and their workers.
December 22, 2020 update: On December 18, the federal government announced regulatory changes to increase the maximum wage subsidy rate to 75% for the period beginning Sunday, December 20, 2020, until March 13, 2021. On December 21, the Canada Revenue Agency (CRA) launched a registry of all organizations using the CEWS. (Sole proprietors excluded, for privacy reasons).
CEWS program details & eligibility:
The CEWS provides eligible businesses a subsidy of employee wages for up to 24 weeks, retroactive from March 15, 2020, to December 19, 2020.
You are an eligible employer if you saw revenues decrease by 15% in March 15 to April 11, 2020 (claim period 1) or 30% for following claim periods due to COVID-19. Eligible employers include individuals, taxable corporations, partnerships consisting of eligible employers as well as non‑profit organizations and registered charities.
A three-month measure allows eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA)
10% of the remuneration you pay from March 18, 2020 to June 19, 2020, up to $1,375 for each eligible employee to a maximum of $25,000 total per employer
Note: this is a separate program from the Canadian Emergency Wage Subsidy
You are eligible if you are a Canadian-controlled private corporation (including a cooperative corporation) eligible for the small business deduction, an individual, partnership, non-profit corporation, or registered charity;
have an existing business number and payroll program account with the CRA on March 18, 2020; and
pay salary, wages, bonuses, or other remuneration to an eligible employee
For further information, please see this FAQ page.
Added flexibility for corporate taxes
T2 Corporation Income Tax Returns: The CRA will allow all businesses to defer T2 corporation income tax returns otherwise due in June, July or August, to September 1, 2020. As previously announced, any income tax balance due on or after March 18 and before September 1 will also be due by September 1, 2020.
A tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay. It may also include payments from provincial and territorial programs.
Support in assessing and navigating funding options