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

•  Business Benefits Finder: https://innovation.ised-isde.canada.ca/s/?language=en_CA 

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. 

•  https://www.canada.ca/en/department-finance/economic-response-plan/covid19-businesses.html#extending_workshareprograms 
•  Extending 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. 
• To apply and more info visit:  https://www.canada.ca/en/employment-social-development/services/work-sharing/apply.html 

• 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 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 March 31, 2021 through their banks and credit unions.
• Learn More: https://ceba-cuec.ca/

• 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

• 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.
• The rent subsidy is available until June 2021
• Apply: https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-rent-subsidy.html 

• 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

 Support for businesses from the Alberta government

• https://www.alberta.ca/covid-19-support-for-employers.aspx 

Support for businesses from the City of Calgary

• https://www.calgary.ca/CSPS/cema/Pages/businesses-and-COVID-19.aspx 

Small Businesses: How are small businesses impacted by the Alberta Relaunch Plan?

• https://www.alberta.ca/alberta-relaunch-strategy.aspx
•  https://www.alberta.ca/biz-connect.aspx 
• Alberta’s Relaunch Strategy puts safety first while gradually reopening businesses, resuming activities and getting people back to work
  •  https://www.alberta.ca/biz-connect.aspx 
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  Small Businesses: How are small businesses impacted by the Alberta Relaunch Plan?

• https://www.alberta.ca/alberta-relaunch-strategy.aspx
• https://www.alberta.ca/biz-connect.aspx 
• Alberta’s Relaunch Strategy puts safety first while gradually reopening businesses, resuming activities and getting people back to work
  • https://www.alberta.ca/biz-connect.aspx 

•  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/

 Regional Relief and Recovery Fund

• The Fund aims to help western Canadian businesses cope with the financial hardship resulting from COVID-19. 

Go to the eligibility criteria for:

• Funding up to $40,000
• Funding over $40,000

or use the quick RRRF Eligibility Assistant here:  https://www.wd-deo.gc.ca/eng/20059.asp 

Canada's Regional Development Agencies: Support for businesses during COVID-19 - Innovation, Science and Economic Development Canada

• Recognizing the importance of the Regional Relief and Recovery Fund in supporting local tourism businesses, the government will earmark a minimum of 25 per cent of all the Fund’s resources to support local tourism businesses, providing more than $500 million in program support through June 2021. 

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

 Highly Affected Sectors Credit Availability Program  

• https://www.canada.ca/en/department-finance/economic-response-plan.html
• The Highly Affected Sectors Credit Availability Program (HASCAP) provides businesses heavily impacted by COVID-19, access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
• HASCAP is available to businesses that operate in sectors such as tourism and hospitality, restaurants and those that primarily rely on in-person services.
• The program is available at some participating financial institutions. Other participating financial institutions will deploy the program progressively over the days that follow.
• Learn More:https://www.bdc.ca/en/special-support/hascap?ref=shorturl-hascap