COVID-19: Supports for Canadian Businesses - BDC
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COVID-19: Supports for Canadian Businesses As the COVID-19 outbreak unfolds, we know these are challenging times for you and your business. BDC stands ready to support entrepreneurs like you through to a more stable period. This compilation of federal and provincial government support measures for business focusses on: 1 Access to capital and other liquidity support measures 2 Measures to avoid or minimize the impact from layoffs 3 Provincial / Territorial Measures 4 Resources and Additional Information BDC has also made available free tools and tips that can help you map out your next steps, identify new opportunities, mitigate risk and create resilience in your company, so you can emerge strong in recovery. This information is up to date as of August 5, 2021 and is updated regularly. The programs and services described in this document may change at any time and without notice. For the most up to date information on these support measures, please regularly consult the referenced links as well as the additional web resources at the end of this document. BDC | COVID-19: Supports for Canadian Businesses 1
1 Access to Capital and Other Liquidity Support Measures
Where to Apply /
Program Description Who is Eligible
Get Up to Date Information
All businesses that
Contact your primary financial institution
Between $1M and $12.5M for operational cash flow have been impacted by
BDC Co-Lending to apply. For more information:
requirements, co-financed by BDC and your primary financial COVID-19. Subject to
Program https://www.bdc.ca/en/pages/co-lending-
institution. Available until Dec. 31, 2021. your primary financial
program.aspx
institution’s credit criteria.
Guaranteed, low interest loans of $25,000 to $1M to cover
operational cash flow needs. Businesses must have received Small and medium-sized
Highly Affected
payments either from the Canada Emergency Wage Subsidy businesses in all sectors
Sectors Credit Contact your primary financial institution to
(CEWS) or the Canada Emergency Rent Subsidy (CERS) by having that have seen their
Availability find out more. Important: You can apply at
demonstrated a minimum 50% revenue decline for at least three revenues decrease by
Program (HASCAP) one financial institution only.
months (not necessarily consecutive) within the eight-month 50% or more as a result
Guarantee
period prior to the date of the HASCAP Guarantee application. of COVID-19.
This HASCAP Guarantee is available until Dec. 31, 2021.
All businesses that have been Talk to your financial institution account
This Guarantee is for new operating lines of credit or new term impacted by COVID-19, manager for more information on whether
EDC Business
loans to support cash flow needs during the pandemic. EDC will including non-exporting the EDC BCAP Guarantee is a good
Credit Availability
guarantee 80% on the money you borrow, up to a total loan of businesses that sell fit for your cash flow needs. For more
Program (BCAP)
$6.25M. EDC fees related to the guarantee will be deferred for the domestically. Subject to information: https://www.edc.ca/en/
Guarantee
first six months. Available until Dec. 31, 2021. your primary financial solutions/working-capital/bcap-guarantee.
institution’s credit criteria. html
Junior loans ranging between $12.5M and $60M for medium- Businesses with annual
sized businesses particularly impacted by the COVID-19 revenues of about $100M
pandemic and/or the recent decline in oil and gas prices. to $500M, from any Contact your primary financial institution to
BDC Mid-Market This program is meant to cover operational liquidity needs and sector or industry, that apply. For more information: https://www.
Financing Program business continuity activities and is provided jointly with BDC were impacted directly bdc.ca/en/pages/mid-market-financing-
and your primary financial institution. (Mid-Market and Oil & Gas or indirectly by COVID-19 program.aspx
Financing Programs are merged to facilitate coordination and the and/or the recent decline
processing of loan requests.) Available until Dec. 31, 2021. in oil and gas prices.
The risk-sharing lending solutions under this program
enable small- and medium-sized exploration and production
companies to obtain additional financing from both their
EDC Business financial institution and EDC.
Credit Availability The loans are provided by your financial institution and involve Firms in Canada’s oil and https://www.edc.ca/en/article/oil-gas-
Program (BCAP) – support from EDC through one of two financing solutions: gas sector support.html
Reserve Based 1) an option whereby EDC provides a guarantee to your financial
Lending Program institution to cover a portion of the loan in case of default; and
2) a direct lending option whereby EDC joins the loan facility
and provides a portion of the financing to you. Available until
Dec. 31, 2021.
BDC | COVID-19: Supports for Canadian Businesses 21 Access to Capital and Other Liquidity Support Measures (cont.)
Where to Apply /
Program Description Who is Eligible
Get Up to Date Information
Working capital loans of up to $2M with flexible repayment
BDC Working Businesses of varying https://www.bdc.ca/en/special-support/
terms such as principal postponements for qualifying
Capital Loan sizes working-capital-loan
businesses and reduced rates on new eligible loans.
Term loans of up to $2.5M, with no fees and an 12-month
interest-only option available over a 10-year amortization. https://www.fcc-fac.ca/en/covid-19/
These funds can be used for working capital and to modify Food producers, program-details.html
Farm Credit production due to the impacts of COVID-19. agribusinesses, and food Contact your local FCC office or the
Canada Term Loans
A deferral of principal and interest payments for six months or a processors Customer Service Centre at
deferral of principal payments for up to 12 months is also available, as 1-888-332-3301
well as access to an additional credit line of up to $500,000.
The Government of Canada is providing $306.8 million to https://pm.gc.ca/en/news/news-
Support for Aboriginal Financial Institutions and Métis Capital Corporations releases/2020/04/18/prime-minister-
Indigenous-owned
Indigenous to provide interest-free loans and non-repayable contributions to announces-support-indigenous-businesses
businesses
Businesses help small and medium-sized Indigenous businesses unable to
access the government’s existing COVID-19 support measures. https://nacca.ca/covid-19/
LEEFF is a program instituted by the Government of Canada to Large Canadian employers
provide short-term liquidity assistance in the form of interest- who have a significant im-
Large Employer bearing term loans to large Canadian employers who have pact on Canada’s economy,
Emergency been affected by the COVID-19 outbreak. The intent of LEEFF can generally demonstrate
https://www.cdev.gc.ca/leeff-factsheet/
Financing Facility is to provide bridge financing to large Canadian employers approximately $300 million
(LEEFF) to help these enterprises to preserve their employment, or more in annual revenues,
operations and investment activities until they can access and require a minimum loan
more traditional market financing. size of $60 million.
Rent and mortgage support of up to 65% of eligible expenses
for businesses that have suffered a revenue drop. The rent
subsidy is provided directly to tenants. A top-up of 25%
Canada Emergency https://www.canada.ca/en/revenue-agency/
is available to organizations temporarily shut down by a Businesses that have
Rent Subsidy services/subsidy/emergency-rent-subsidy.
mandatory public health order issued by a qualifying public suffered a revenue drop.
(CERS) html
health authority, in addition to the rent subsidy. The program is
available retroactively from September 27, 2020 and extends
until October 23, 2021.
Canada
Find government programs and services at your fingertips. All small businesses https://direc.to/gB9M
Business App
BDC | COVID-19: Supports for Canadian Businesses 32 Avoiding or Minimizing the Impact from Layoffs
Where to Apply /
Program Description Who is Eligible
Get Up to Date Information
Wage subsidy of up to 75% for qualifying businesses.
An additional 25% top-up subsidy is available for employers
https://www.canada.ca/en/revenue-
Canada Emergency that have been the most adversely affected by the pandemic. Businesses experiencing
agency/services/subsidy/emergency-
Wage Subsidy Visit the program website for the most up to date information loss of revenue
wage-subsidy.html
on subsidy amounts and qualifying criteria. The program is
available from March 15, 2020 until October 23, 2021.
The program offsets a portion of the extra costs employers
Businesses experiencing
take on as they reopen, either by increasing wages or hours
loss of revenue as compared
worked or hiring more staff. It provides a subsidy of up to 50%
to the pre-pandemic https://www.canada.ca/en/revenue-
Canada Recovery of incremental remuneration paid to eligible active employees
period and that had a agency/services/subsidy/recovery-hiring-
Hiring Program between June 6, 2021, and Nov. 20, 2021. Business cannot
payroll account with the program.html
claim the Canada Recovery Hiring Program subsidy and the
Canada Revenue Agency
Canada Emergency Wage Subsidy for the same period but may
on March 15, 2020.
switch from one to the other in different periods.
Year-round businesses
Provides eligible employers with a subsidy of up to 50% of https://www.canada.ca/en/revenue-
Work-Sharing that have been in
incremental remuneration paid to eligible active employees agency/services/subsidy/recovery-hiring-
Program business in Canada for at
between June 6, 2021, and Nov. 20, 2021. program.html
least one year.
Temporary changes to EI that (1) reduce the required insured
hours to 120 for regular, sickness, maternity, parental and
caregiving benefits, (2) set the minimum benefit to $500 per
Temporary week before taxes, or $300 per week for extended parental
Employment benefits and (3) set the minimum unemployment rate at Workers who are https://www.canada.ca/en/services/
Insurance (EI) 13.1% in all regions across Canada. The 52-week period to unemployed. benefits/ei.html
Changes accumulate hours is also extended for those who collected the
Canada Emergency Response Benefit (CERB) and a medical
certificate is not required for EI claims. These changes will be
in effect until Sept. 26, 2021.
Income support of $500 per week for those who are not Employed and self-
entitled to Employment Insurance (EI) benefits. May be claimed employed individuals who https://www.canada.ca/en/revenue-
Canada Recovery
for a maximum of 54 weeks between September 27, 2020 and are directly affected by agency/services/benefits/recovery-
Benefit (CRB)
October 23, 2021. The final four weeks of the CRB will provide COVID-19 and are not benefit.html
income support of $300 per week. entitled to EI benefits.
BDC | COVID-19: Supports for Canadian Businesses 42 Avoiding or Minimizing the Impact from Layoffs (cont.)
Where to Apply /
Program Description Who is Eligible
Get Up to Date Information
Income support of $500 per week to employed and self-
Employed and self-
employed individuals who are unable to work because they
employed individuals
must care for their child under 12 years old or a family member
who are unable to work
Canada Recovery who needs supervised care. This applies if their school, regular https://www.canada.ca/en/revenue-
because they must care
Caregiving Benefit program or facility is closed or unavailable to them due to agency/services/benefits/recovery-
for their child under 12
(CRCB) COVID-19, or because they’re sick, self-isolating, or at risk of caregiving-benefit.html
years old or a family
serious health complications due to COVID-19. May be claimed
member who needs
for a maximum of 42 weeks between Sept. 27, 2020 and
supervised care.
October 23, 2021.
Employed and self-
employed individuals
Income support of $500 per week to employed and self- who are unable to work
employed individuals who are unable to work because they’re because they’re sick or
Canada Recovery https://www.canada.ca/en/revenue-
sick or need to self-isolate due to COVID-19, or have an need to self-isolate due
Sickness Benefit agency/services/benefits/recovery-
underlying health condition that puts them at greater risk of to COVID-19, or have
(CRSB) sickness-benefit.html
getting COVID-19. May be claimed for a maximum of 4 weeks an underlying health
between Sept. 27, 2020 and October 23, 2021. condition that puts them
at greater risk of getting
COVID-19.
For the 2021 program: The Government of Canada is extending
the Canada Summer Jobs wage subsidy to 75% of the provincial
https://www.canada.ca/en/employment-
Canada Summer or territorial minimum wage. The placement period is also being Businesses participating
social-development/services/funding/
Jobs extended from April 26, 2021 to Feb. 26, 2022. As with 2020, in Canada Summer Jobs.
canada-summer-jobs.html
part-time work is being permitted and employers may amend
the project or job activities if they are affected by COVID-19.
BDC | COVID-19: Supports for Canadian Businesses 53 Provincial / Territorial Measures
Province / Where to Apply /
Program Description Who is Eligible
Territory Get Up to Date Information
Small and
Relief:
Grant of up to 20% of qualifying expenditures for medium-sized
Innovation https://www.alberta.ca/innovation-
small and medium-sized businesses that invest in businesses that
Employment employment-grant.aspx
research and development. undertake research and
Grant
development in Alberta
Access to
Alberta Capital: ATB
Access to capital and deferrals on loans, lines of Call or email the ATB team member you
Financial Small businesses
credit and Mastercard deal with or call 1-800-332-8383
Customer Relief
Program
Resources: Free advice, coaching and information on COVID-19
Small businesses https://businesslink.ca/
Business Link resources and supports.
The Launch Online Grant program provides funding
to B.C.-based business to create an online shop Businesses owned by a
or an online booking system and/or improve their B.C. resident or residents
Relief: Launch existing online operations to attract new local with up to 149 employees
https://launchonline.ca/
Online Grant customers and expand to new markets. The grant and that generated at
will pay for up to 75% of eligible expenses, up to a least $30,000 in the
maximum of $7,500 per business. Applications close past year.
Sept. 30, 2021.
Access to
British
Capital: Loans of up to $100,000 for women entrepreneurs, https://www.womensenterprise.ca/
Columbia
Unity Women as well as support provided by the Women’s Women Entrepreneurs business-loans/vancity-unity-women-
Entrepreneurs Enterprise Centre entrepreneurs-program/
Program
Support services operated by Small Business BC
Resources:
to offer information to support businesses during
Business
COVID-19. This will serve as the single point of https://covid.smallbusinessbc.ca/hc/en-
COVID-19 All businesses
contact for businesses throughout the province us
Support
looking for more information on resources available
Service Online
during the COVID-19 pandemic.
BDC | COVID-19: Supports for Canadian Businesses 63 Provincial / Territorial Measures (cont.)
Province / Where to Apply /
Program Description Who is Eligible
Territory Get Up to Date Information
Resources: https://manitoba.ca/covid19/programs/
Manitoba Provincial resource line to learn more about business mesc.html
Manitoba All businesses.
Economic support programs.
Support Centre Dial 1-888-805-7554
Working capital loans of up to $100,000 to small
Access to businesses impacted by the COVID-19 pandemic, Small businesses
Capital: New at an interest rate of 4% with six months of deferred employing 1 to 49
Brunswick interest payments and 12 months of deferred principal employees with sales https://www.cbdc.ca/en/gnb-small-
Small Business payments. Loans are funded by the Government of of less than $10 million business-emergency-working-capital-
Emergency New Brunswick and administered by the Community and that were financially program
Working Capital Business Development Corporation. Applicants must viable prior to the
Program have explored options with their primary financial COVID-19 crisis.
New institution and federal support programs.
Brunswick
Opportunities New Brunswick will provide working
Access to Capital: Privately-held
capital loans of $100,000 to $1 million, at an interest
Opportunities businesses in business
rate of 4% with six months of deferred interest
New Brunswick for at least 24 months https://onbcanada.ca/covid19-working-
payments and 12 months of deferred principal
COVID-19 and that were financially capital-loans-new-brunswick/
payments. Max term 5 years. Applicants must
Working Capital viable prior to the
have explored options with their primary financial
Loans COVID-19 crisis.
institution and federal support programs.
This program will reimburse private sector employers, Employers receiving
including those self-employed, for continuation of the Canada Emergency
employee pay associated with the time period their Wage Subsidy whose
Relief: Employer employees are required to self-isolate following employees were required https://www.gov.nl.ca/fin/employer-
Newfound-
Compensation their return from out-of-province travel due to the to self-isolate due to compensation-for-workers-in-self-
land and
for Workers in recently announced COVID-19 travel restrictions. international or inter- isolation-due-to-covid-19-travel-
Labrador
Self-Isolation Employers are eligible for up to $500 per week provincial travel upon restrictions/
for each employee and up to a combined total of return to Newfoundland
$1,000 per week for each employee when receiving and who were unable to
both federal and provincial funding. work as a result.
Support for
Up to $25,000 per year available to help
Entrepreneurs
entrepreneurs and small businesses with startup https://www.iti.gov.nt.ca/en/services/
Northwest and Economic
funding, capital asset acquisition, market and All NWT businesses. support-entrepreneurs-and-economic-
Territories Development
product development, operational support, development-seed
(SEED)
or film support.
Program
BDC | COVID-19: Supports for Canadian Businesses 73 Provincial / Territorial Measures (cont.)
Province / Where to Apply /
Program Description Who is Eligible
Territory Get Up to Date Information
Access to http://www.novascotia.coop/programs/
Enhancing the Small Business Loan Guarantee
Capital: Small small-business-loan-guarantee-program/
Program, delivered through Nova Scotia Credit
Business Loan Small Businesses
Unions, to make it easier for businesses to access https://novascotia.ca/news/
Guarantee
credit up to $500,000. release/?id=20200320003
Nova Scotia Program
Resources: Small and medium
Virtual Hub to offer education, training and guidance size businesses, social https://www.nscc.ca/sites/covid19-
Province / Virtual Business for small businesses enterprises, and not-for- Where to Apply /
Program Description Who is Eligible business-support/
Territory Support Hub profits Get Up to Date Information
Access to Loans of up to $50,000 for Indigenous-owned
Credit: Support https://news.ontario.ca/en/
businesses that are unable to access or ineligible for
Indigenous-owned release/57301/ontario-supporting-
for Indigenous- existing federal and provincial supports. Up to 50%
businesses indigenous-owned-businesses-during-
Owned of the loan will be in the form of a non-repayable
covid-19
Businesses grant. Delivered by Aboriginal Financial Institutions.
To help remove obstacles and streamline Ontario’s
ability to respond to the outbreak and navigate through
Ontario it, several temporary rules and regulations have been
put in place.
Regulations: To support your ongoing work during COVID-19, Individuals and https://www.ontario.ca/page/frontline-
Request a you can request a temporary regulation or policy to businesses operating in business-help-us-support-you-during-
Temporary change to help: assist the health care system meet the Ontario covid-19
Change needs of needs of the emergency, assist businesses
in retooling or producing essential or health-related
products and supplies, make it easier for businesses
trying to operate remotely or in a non-traditional
fashion and are facing unexpected challenges
Access to Capital:
Small business loan of up to $100,000 at a fixed https://www.princeedwardisland.ca/en/
Emergency All businesses, except
interest rate of 4%, with a 12-month deferral of service/emergency-working-capital-
Working Capital start-ups
Prince principal and interest payments. financing
Financing
Edward
Island
Relief: Grants of up to 50% of eligible costs for the
Broadband infrastructure https://www.princeedwardisland.ca/en/
Broadband Fund installation of infrastructure for enhanced broadband
projects service/broadband-fund-businesses
for Business services.
BDC | COVID-19: Supports for Canadian Businesses 83 Provincial / Territorial Measures (cont.)
Province / Where to Apply /
Program Description Who is Eligible
Territory Get Up to Date Information
Access to Capital:
Emergency All businesses that can https://www.quebec.ca/en/businesses-
Assistance Provides loans or guarantees of up to $50,000,
demonstrate the impact and-self-employed-workers/emergency-
to Small and administered through Regional County Municipalities
of COVID-19 on their assistance-for-small-and-medium-sized-
Medium-Sized or Local Investment Funds.
Businesses operations businesses-covid-19/
(PAUPME)
Access to Capital:
Investissement
Québec https://www.investquebec.com/quebec/
Concerted Loan guarantees or working capital loans of at least All businesses, with some en/financial-products/all-our-solutions/
temporary action $50,000. exclusions Concerted-temporary-action-program-
program for for-businesses.html
businesses
(PACTE)
Businesses that are
Québec
Relief: Aide aux In maximum alert zones where businesses are forced forced to close due to https://www.quebec.ca/nouvelles/
Entreprises to close due to public health orders, up to 80% of public health orders in actualites/details/aide-aux-entreprises-
en Régions en PAUPME and PACTE loans can be forgiven, up to a maximum alert zones that en-regions-en-alerte-maximale/
Alerte Maximale maximum forgiveness of $15,000. are receiving PAUPME (in French)
(AERAM) and PACTE loans.
Access to Capital:
Caisse de dépôt
et placement Commercial working capital loans of at least
All businesses https://www.cdpq.com/en/form-covid-19
du Québec $5 million for Quebec companies.
COVID-19
Envelope
Resources:
Government https://www.quebec.ca/en/businesses-
Financial Support Online tool to determine what type of assistance is
All businesses
and-self-employed-workers/government-
Programs for best suited to your situation. financial-support-programs-businesses-
Businesses covid19/
(COVID-19)
Non-repayable grant of up to $30,000 per month
Businesses which are https://yukon.ca/en/health-and-
to a maximum total of $100,000 to cover fixed costs
Yukon Business operating at a deficit on wellness/covid-19-information/
Yukon up to the break-even point. Additional support is
Relief Program a monthly basis due to economic-and-social-supports-
available for tourism businesses. Applications are
COVID-19. covid-19/yukon-business-relief
open until Sept. 30, 2021.
BDC | COVID-19: Supports for Canadian Businesses 9Resources and Additional Information
Information contained within these websites is subject to change without notice. For the most up to date information, check these links regularly.
https://www.canada.ca/en/public-health/services/diseases/2019-novel-
Government of Canada COVID-19 Portal coronavirus-infection.html?topic=tilelink
Government of Canada Economic Response Plan https://www.canada.ca/en/department-finance/economic-response-plan.html
National Benefit Finder for Businesses https://innovation.ised-isde.canada.ca/s/?language=en
Benefit Finder for Individuals https://covid-benefits.alpha.canada.ca/en/start
Wellness Together Canada: Mental Health and
https://ca.portal.gs/
Substance Use Support
Alberta https://www.alberta.ca/covid-19-support-for-employers.aspx
https://www2.gov.bc.ca/gov/content/safety/emergency-preparedness-
British Columbia response-recovery/covid-19-provincial-support
Manitoba https://manitoba.ca/covid19/business/index.html
New Brunswick https://www2.gnb.ca/content/gnb/en/gateways/for_business/covid19.html
Newfoundland and Labrador https://www.gov.nl.ca/covid-19/business-supports/
https://www.iti.gov.nt.ca/en/covid-19-information-businesses-tourists-and-
Northwest Territories program-applicants
Nova Scotia https://novascotia.ca/coronavirus/support/#support-for-business
Provincial /
Territorial Nunavut https://gov.nu.ca/health/information/covid-19-novel-coronavirus
Ontario https://www.ontario.ca/page/covid-19-support-businesses
Prince Edward Island https://www.princeedwardisland.ca/en/topic/for-business
https://www.quebec.ca/en/health/health-issues/a-z/2019-coronavirus/
Quebec financial-assistance-covid19/
https://www.saskatchewan.ca/government/health-care-administration-and-
provider-resources/treatment-procedures-and-guidelines/emerging-public-
Saskatchewan health-issues/2019-novel-coronavirus/covid-19-information-for-businesses-
and-workers/support-for-businesses
https://yukon.ca/en/your-government/find-out-what-government-doing/
Yukon support-yukon-businesses
BDC | COVID-19: Supports for Canadian Businesses 10You can also read
