AB Workplace guidance and supports to help businesses and non-profits Begin to reopen safely

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).
• 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 program is now available at various banks and credit unions.
• This support is available until June 2021.
•  https://www.canada.ca/en/department-finance/economic-response-plan.html#business_credit_availability_program

 Co-Lending Program for Small and Medium 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
• https://www.canada.ca/en/department-finance/economic-response-plan.html#business_credit_availability_program 

Expanding the BCAP

• The Government has announced that they will expand the Business Credit Availability Program (BCAP) to mid-sized companies with larger financing needs. Support for mid-market businesses will include loans of up to $60 million per company, and guarantees of up to $80 million.
• Continue to provide financing to businesses through Farm Credit Canada, the BDC, and EDC, including through the Canada Account. 
• https://pm.gc.ca/en/news/news-releases/2020/05/11/prime-minister-announces-additional-support-businesses-help-save

BDC’s Mid-Market Financing Program

• BDC’s Mid-Market Financing Program will provide commercial loans ranging between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures.
  BDC anticipates that qualifying companies will have annual revenues in excess of approximately $100 million.
• More details will be made available soon.

EDC’s Mid-Market Guarantee and Financing Program

• EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 per cent of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million. These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada.
• More details will be made available soon. 

• The federal government is covering up to 75% of an employee’s wages for qualifying eligible employers, with this subsidy rate in effect until March 13, 2021. The wage subsidy supports you to keep and re-hire your employees and avoid layoffs.
• The CEWS is available until June 2021.
• Apply: https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html 

• The federal government 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.
• More details: https://www.canada.ca/en/employment-social-development/corporate/portfolio/labour/notice-covid-19.html#h2.06-h3.01a

• 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%.
• Lockdown Support is available until June 2021.
• https://www.canada.ca/en/department-finance/news/2020/11/lockdown-support-for-businesses-facing-significant-public-health-restrictions.html

•  The Large Employer Emergency Financing Facility (LEEFF) provides 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 additional liquidity provided through LEEFF allows Canada’s largest businesses, their workers and their suppliers to remain active during this difficult time, and position them for a rapid economic recovery.
• This program is delivered by the Canada Development Investment Corporation, in cooperation with Innovation, Science and Economic Development Canada and the Department of Finance.
• Apply here: https://www.cdev.gc.ca/home-ceefc/

Launch of Insure Mortgage Purchase Program

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#insure_mortgage_purchase_program 
• Launched an Insured Mortgage Purchase Program, in which we will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation.
• This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market.
• More information here:  https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#insure_mortgage_purchase_program 

Additional information for Alberta employees and employers

• https://www.alberta.ca/coronavirus-info-for-albertans.aspx#p22780s6 
•  https://www.canada.ca/en/department-finance/economic-response-plan.html?fbclid=IwAR3myj9ITUoRjdpAGSCHvawxOdPeiupvW-jCJpsJugav3Lq12hRwEM8ziz4#business 

Lowering the domestic stability buffer

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#lowering_the_domestic_stability_buffer 
•  The Office of the Superintendent of Financial Institutions announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy. 

Bank of Canada actions

• https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#bank_of_canada_actions 
• The Bank of Canada is acting in several ways to support the economy and financial system and stands ready to take any and all actions that it can to protect the well-being of Canadians during this difficult time. The Bank has responded by lowering interest rates, intervening to support key financial markets and providing liquidity support for financial institutions.
• Learn more