Should you be interested in a loan of more than $60,000 and meet the eligibility criteria outlined on FedDev Ontario’s website, you may wish to apply to FedDev Ontario.
Southwestern Ontario Development Fund (SWODF)
A business expansion funding program for large-scale project. It that incentivizes companies to invest in new facilities and equipment. It attracts projects that have a significant impact on business productivity and create new employment opportunities within the company.
To qualify for SWODF funding, Southwestern Ontario businesses must provide a minimum investment of $500,000, have at least 10 employees at the time of application, and commit to creating at least five jobs during the project.
SWODF will fund up to 15% of project costs. Rolling application deadlines.
Canada Emergency Business Account
Interest-free loans of up to $60,000 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 up to $20,000.
Apply at https://ceba-cuec.ca
Canada Recovery Benefit
Income support to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits
If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period. If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.
Apply at https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit/crb-how-apply.html
WILWorks - Student Wage Subsidy for Manufacturers
* The program was in effect until March 31, 2021.
The Excellence in Manufacturing Consortium (EMC) WILWorks program provides wage subsidies for student placements in manufacturing and related sectors (e.g. North American Industry Classification - NAICS codes 31-33). The program is offered as part of the
Student Work Placement Program (SWPP).
Subsidies are 75% of the cost of wages, up to a maximum of $7,500 per student placement.
Apply at https://magnet.whoplusyou.com/lp/emctalent.
Canada Highly Affected Sectors Credit Availability Program Loans
On February 1, the Canadian HASCAP Loans program is now open and accepting applications.
What is HASCAP? Canadian businesses heavily impacted by COVID-19 and the global pandemic can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs. The funds are guaranteed by the Canadian government through the BDC.
Find our more information at https://hascap.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.
Ontario's Digital Main Street Grants
Programs that are designed to help businesses transition online or to enhance their digital presence. The following programs are available:
Ontario Grants: Providing main street businesses with Digital Transformation training and guidance and provide the opportunity for a grant of up to $2,500.
shopHERE: Providing independent small businesses and artists with a quick, easy, no-cost way to get selling online.
Future Proof: Helping businesses identify new markets, pivot their business model, and develop and implement a deep digital transformation plan
A one-time grant of up to $1,000 to cover the cost of PPE purchased since March 17, 2020. To be eligible, your business must have 2 to 19 employees and be in one of the following sectors:
accommodation and food services
repair and maintenance
personal and laundry services
gyms and yoga studios
arts, entertainment, and recreation.
Starting at $10,000 for all eligible businesses, the grant provides businesses with funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown.
The business must demonstrate they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. This time period was selected because it reflects the impact of the public health measures in spring 2020, and as such provides a representation of the possible impact of these latest measures on small businesses.
County of Simcoe 2021 Tourism, Culture, and Support Grant
*Applications are now CLOSED
We are pleased to announce that the County of Simcoe Tourism, Culture and Sport grant will be reinstated for 2021. In 2020, the County received 99 applications requesting a total of almost $1.1 million in financial support. However, due to COVID-19, in April 2020, Council voted to suspend the Tourism, Culture and Sport Grant and apply the allocated $300,000 for 2020 to the 2021 envelope, increasing the 2021 budget to $600,000.
Applicants can submit more than one application, for a total ask of $10,000. This could be one application asking for up to $10,000 or multiple applications with smaller asks for a combined total of up to $10,000
Find out more information and the application guidelines at: https://experience.simcoe.ca/resources#SCTDF
Businesses that were required to shut down or significantly restrict services due to provincial public health measures (in areas with modified Stage 2 restrictions or categorized as control or lockdown) can apply for rebates, provided in the form of grants, to help with their fixed costs.
Eligible businesses could get rebates for:
municipal and education property taxes
energy costs, including electricity and natural gas (or where natural gas is not available, propane and heating oil)
Funding will cover the entire length of time that regionally targeted public health restrictions are in place.
Apply at www.app.grants.gov.on.ca/msrf/#/.
CanExport SMEs Funding
Small and medium sized companies may access up to $75,000 in funding to assist with international market development activities. CanExport covers up to 75% of costs for export marketing of your products and services in international markets where you have little or no sales. Must be an incorporated legal entity or a limited liability partnership (LLP) to be eligible to apply.
With international travel restricted due to COVID-19, the CanExport SMEs program is pivoting to now help small businesses:
- develop and expand their e-commerce presence by covering partial costs associated with online sales platforms and digital strategy consulting, as well as advertising and search engine optimization
- attend virtual trade shows and other business-to-business events
- navigate new COVID-19-related trade barriers by helping pay for new international market certifications and requirements
Find more information and apply here.
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.
Available to Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic. The subsidy will be availble on a sliding scale to cover a portion of commercial rent or property expenses, starting on September 27, 2020, until June 2021.
*On February 24, 2021, the government announced a proposed change. Find out more information on the change
, and if it applied to your situation you may amend a previously submitted application.
For each claim period, you can claim eligible expenses up to a maximum of:
- $75,000 per business location (base and top-up)
- $300,000 in total for all locations (including any amounts claimed by affiliated entities)
- applies to the base subsidy only
- there is no maximum for the top-up subsidy
For help navigating funding programs, contact email@example.com. The Simcoe EDO has also put together a reference document of Government Supports for your Business.