Randeep Sarai
Randeep Sarai
Member of Parliament for Surrey Centre
Support for Businesses during COVID-19

We all need to do our part to help stop the spread of COVID-19. We are in this together and we will get through this together.

You can find all of the below information at canada.ca/coronavirus  

You can sign up for email updates from the Government of Canada to get the latest information about COVID-19. Click here to get email updates.

If you believe you may be experiencing symptoms of COVID-19 you can take a self-assessment from Health Canada and follow the directions based on your results.


Find financial help during COVID-19

Click here, to answer a few questions about your business to get a tailored list of COVID-19 support and other programs and services that may benefit your business. 

More information can be found below about some of the the COVID-19 support available to business. For the full list of support available to businesses, please visit canada.ca/coronavirus


Canada Emergency Wage Subsidy (CEWS)

We are covering up to 75% of an employee's wages for qualifying eligible employers to keep and re-hire employees and avoid layoffs.

Apply for the CEWS

Update

The government has announced a proposed extension of the current CEWS rates until June 5, 2021.


Extending the Work-Sharing program

We have extended the maximum duration of the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.

For more information including Employer and Employee Toolkits or to apply, click here.

 


Extension of lay-off period

We have extended time periods for temporary layoffs by up to six months in the Canada Labour Standards Regulations to allow employers more time to recall laid-off employees. The temporary changes will help protect the jobs of federally regulated private-sector employees and support employers facing economic hardship as a result of the pandemic.

For more information, click here.

 


Financial Support, Loans and Access to Credit 

Canada Emergency Business Account (CEBA) interest-free loans

he Canada Emergency Business Account (CEBA) provides interest-free, partially forgivable, loans of up to $60,000, to small businesses and not-for-profits, that have experienced diminished revenues due to COVID-19 but face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes and wages.

We have recently expanded CEBA to include an additional interest-free $20,000 loan, 50% of which would be forgivable if repaid by December 31, 2022.

This means the additional loan effectively increases CEBA loans from the existing $40,000 to $60,000 for eligible businesses, of which a total of $20,000 will be forgiven if the balance of the loan is repaid by December 31, 2022.

Business owners can apply for support until June 30, 2021 through their banks and credit unions.

For more information click here. 

 

Loan Guarantee for Small and Medium-Sized Enterprises

Through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs).

This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies.

This program is now available at various banks and credit unions.

This support is available until June 2021.

To learn more, click here.

 

 

Co-Lending Program from Small and Medium-Sized Enterprises

Through the Business Credit Availability Program, Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements.

The program offers differing maximum finance amounts based on business revenues.

This program is now available at various banks and credit unions.

This support is available until June 2021.

To learn more, click here

 

Regional Relief and Recovery Fund (RRRF)

We are providing over $1.5 billion through the Regional Relief and Recovery Fund (RRRF) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access other support measures.

Western Economic Diversification Canada can assist your business with:

The RRRF helps businesses, organizations and communities relieve the economic impact of COVID-19 and prepare for recovery by:

Find out if you're eligible.

For more information, click here

 

 

Canada Emergency Rent Subsidy

The Canada Emergency Rent Subsidy (CERS) provides a direct and easy-to-access rent and mortgage subsidy of up to 65% of eligible expenses to qualifying businesses, charities and non-profits. The subsidy rates are in effect until December 19, 2020. This support is available directly to tenants.

Lockdown Support

Qualifying organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the Lockdown Support.

The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits and charities subject to a lockdown can receive rent support of up to 90%.

The rent subsidy and the Lockdown Support are available until June 2021.

To learn more about CERS, click here.

Update

The government has announced a proposed extension of the current CERS and Lockdown Support rate until June 5, 2021.

 


Support for Women Entrepreneurs 

We are providing $15 million in new funding through the Women Entrepreneurship Strategy(WES). This funding will be available to existing WES Ecosystem Fund recipient organizations, enabling these third-party organizations to provide timely support and advice to women entrepreneurs facing hardship due to the COVID-19 pandemic.

To learn more about this fund, click here.


Support for Youth Entrepreneurs - Futurpreneur

We are providing $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months.

To learn more about Futurpreneurs, click here.


Support for Indigenous Businesses

We are providing $306.8 million in funding to help small and medium-sized Indigenous businesses, and to support Aboriginal Financial Institutions that offer financing to these businesses.

The funding will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses.

Financial support for Indigenous businesses will be provided through Aboriginal Financial Institutions, and administered by the National Aboriginal Capital Corporations Association and the Métis capital corporations in partnership with Indigenous Services Canada.

For more information about this support for Indigenous SME, click here.

Indigenous Community Business Fund

We are providing non-repayable financial contributions to help support operating costs for First Nation, Inuit and Métis community-or collectively-owned businesses and microbusinesses whose revenues have been affected by the COVID-19 pandemic.

The fund seeks to provide support for businesses that do not qualify for other Government of Canada COVID-19 relief measures.

For more information, click here.

Support for the Indigenous tourism industry

We announced a new stimulus development fund that will provide $16 million to support the Indigenous tourism industry. The Indigenous Tourism Association of Canada will administer the fund to businesses across the country that have lost revenue due to COVID-19.


Support for Black Businesses

Supporting Black-led business organizations through the National Ecosystem Fund

We are investing up to $53 million to develop and implement the National Ecosystem Fund to support Black-led business organizations across the country.

This will help Black business owners and entrepreneurs access funding and capital, mentorship, financial planning services, and business training.

This initiative is part of the Black Entrepreneurship Program, in which we are investing up to nearly $93 million.

More details on eligibility requirements and how to apply will be available soon.

Supporting Black business owners and entrepreneurs through the Black Entrepreneurship Loan Fund

We are supporting Black business owners and entrepreneurs through the Black Entrepreneurship Loan Fund that will provide loans of between $25,000 and $250,000.

This initiative is part of the Black Entrepreneurship Program, in which we are investing up to nearly $93 million.

More details on eligibility requirements and how to apply will be available soon.



For the full list of support available to businesses, please visit canada.ca/coronavirus

For information about support from the Province of British Columbia, please click here, or contact your local MLA.

 

Main office - Surrey
10362 King George Blvd Suite 170
Surrey, British Columbia
V3T 2W5

Telephone:
604-589-2441

Fax:
604-589-2445
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Hill Office
House of Commons
Ottawa, Ontario
K1A 0A6

Telephone:
613-992-2922

Fax:
613-992-0252
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