Should you be interested in a loan more than $40,000 and meet the eligibility criteria outlined on FedDev Ontario’s website, you may wish to apply to FedDev Ontario.
Canada Emergency Business Account
Interest-free loans of up to $40,000 to all businesses and not-for-profits to help cover their operating costs during a period where revenues have been temporarily reduced. Owner-operated small businesses that do not have a payroll, sole proprietors receiving business income directly, as well as family-owned corporations remunerating in the form of dividends rather than payroll are also eligible. Note: repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).
Apply at https://ceba-cuec.ca
BDC Small Business Loans
Loans of up to $100,000, repayable over 5 years that can be used to buy equipment, purchase extra software or hardware, apply for a patent, trademark or, other intellectual property protection.
Apply at www.bdc.ca/en/financing/business-loans/pages/small-business-loan.aspx.
Digital Main Street Digital Transformation Grant
Providing main street businesses with Digital Transformation training and guidance and provide the opportunity for a grant of up to $2,500. More information here.
Canada Emergency Commercial Rent Assistance (CECRA) for small businesses
This program will lower rent by 75 percent for small businesses that have been affected by COVID-19. The program will provide forgivable loans to qualifying commercial property owners to cover 50% of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship.
Deadline to opt in for July, August, and September is October 30, 2020. Applications closed for April, May, and June.
Provides an up to 75% wage subsidy to employers who keep employees on their payroll and have suffered a decrease to gross revenues. Available to businesses of all sizes, whether incorporated or unincorporated (i.e., individuals and partnerships), as well as non-profit organizations and charities for up to 12 weeks.
Note: A proposal has been made to continue the CEWS until June 2021, including possible changes to the rates and top-up calculation. Read the October 14 announcement and check back soon for details.
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For help navigating funding programs, contact edo@simcoe.ca. The Simcoe EDO has also put together a reference document of Government Supports for your Business.
Training & Support
Digital Main Street & Beyond
To help businesses get online, FREE one-on-one training trhoughout Simcoe County - not just those on main street.
To activate easy to use tools and programs such as website support, Shopify, Google My Business, Future Proof Main Street and social media businesses should contact:
Small Business Enterprise Centre of Barrie, Simcoe County and Orillia at 705-720-2445 or digitalsquad@barrie.ca (For businesses in the Townships of Springwater, Oro-Medonte, Ramara, Severn, Tay and the Towns of Bradford West Gwillimbury, Innisfil and Midland)
(For businesses in the Townships of Adjala-Tosorontio, Essa, Clearview, and Tiny and the Towns of Collingwood, New Tecumseth, Wasaga Beach and Penetanguishene)
HeyLocal
HeyLocal is a Canadian marketplace that helps small and medium-sized businesses. Their mission is to offer a fully local online marketplace with the convenient shopping experience of retail giants, filled with great products sold by vendors within your community. Add your business to HeyLocal for free. Learn more by visiting www.heylocal.ca.
For more information about Digital Main Street & Beyond and HeyLocal watch this 30 minute webinar.
Ask an Expert Series
The "Ask an Expert" series helps businesses and individuals navigate information and get answers during the COVID-19 pandemic. This ongoing series feature experts on topics like Health and Safety, HR, Accounting, Marketing, Business Planning, Legal, and Mental Health, to name a few. It is a partnership between the County of Simcoe, the Small Business Centre of Barrie, Simcoe County and Orillia, South Georgian Bay Small Business Enterprise Centre, Orillia Area Community Development Corporation, Nottawasaga Futures, North Simcoe Community Futures Development Corporation and the Centre for Business and Economic Development.
Learn more about upcoming sessions or watch recordings of previous sessions at www.simcoe.ca/askanexpert.
Checklists for Reopening / Operating During COVID-19
Self-assessment tools designed to help businesses identify gaps and risks, as well as potential approaches so they can safely resume operations.