COVID-19 Government relief for business

Summary of key government relief options. While we update this information regularly, we recommend you refer to their websites for the most up-to-date information.

Federal Government of Canada

Highlights and Eligibility

The Government of Canada has announced the Highly Affected Sectors Credit Availability Program (HASCAP) to help the hardest-hit businesses--those whose revenues have decreased by 50% or more due to COVID-19--with low-interest loans of $25,000 to $1 million. Funding through this program is to be used for operational expenses, not to repay or refinance other debt. The HASCAP is available until December 31, 2021.

The program will be available at some participating financial institutions as of February 1, 2021 with other participating financial institutions (including ATB) deploying the program progressively over the days that follow.

Learn more about HASCAP

 

How to apply (if applicable)

To start your HASCAP application, contact the ATB team member you usually work with or call 1-800-332-8383.



Highlights

The Government of Canada has announced a new pandemic support program in their April 19, 2021 budget proposal. The Canada Recovery Hiring Program (CRHP) will be available beginning June 6, 2021 and will continue until November 20, 2021. Employers who meet the eligibilit requirements have the option to utilize either the CRHP or the CEWS for a given period. The CRHP is designed to the promote hiring and re-hiring of employees during economic recovery. 

How to apply (if applicable)

The CRHP will only be available to employers with a drop in revenue of more than 10% beginning July 4. More details to come.

Highlights and Eligibility

Update: The Government of Canada has announced a proposed budget, including the extension of CERS. This proposal involves changes to CERS, including changes to the rates which will offer a decrease in the subsidy rate.

The Canada Emergency Rent Subsidy, will provide rent and mortgage support directly to eligible tenants (but will also support property owners) until September 25, 2021. 

This subsidy supports eligible businesses, charities, and non-profits that have been impacted by a drop in revenues by subsidizing up to a maximum of 65 per cent of eligible expenses until December 19, 2020. Organizations that had to temporarily close their doors due to mandatory public health orders may also receive a 25 per cent top-up to the 65 per cent subsidy.

How to apply (if applicable)

The deadline to claim for period four is July 15, 2021. Check back for updates on deadlines. For more information on how to apply for the Canada Emergency Rent Subsidy online, visit the Government of Canada page. 

Highlights and Eligibility

The Canada Emergency Wage Subsidy has been updated so that eligible businesses can now qualify for a base subsidy. The subsidy amount is based on the businesses revenue drop and can be calculated here. The program will be in place from March 15 to September 25, 2021 and is in place to help get employees back to work.

For more information on how to calculate your top-up rate and base rate, visit this page.

How to Apply (if applicable)

Eligible employers will be able to apply through the Canada Revenue Agency’s My Business Account portal as well as a web-based application. Subsidy rates are proposed to start decreasing on July 4 and wage subsidies will be available to employers who have experienced a drop in revenue greater than 10%.

For more information on how to apply visit the Government of Canada's page.

Highlights and Eligibility

The BDC is working with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements. This program will provide term loans for operational and liquidity needs of businesses, which could include interest payments on existing debt and will be available to businesses that were financially viable and revenue-generating prior to the COVID-19 outbreak.

The program is designed in three segments to target support to different business sizes and will provide loans up to:

  • $312,500 to businesses with revenues of less than $1 million;
  • $3.125 million for businesses with revenues between $1 million and $50 ; and
  • $6.25 million for businesses with revenues in excess of $50 million

Loans will be interest-only for the first 12 months, with a 10-year repayment period.

Update: the deadline to apply has been extended until December 31, 2021.

How to apply (if applicable)

Postpone principal payments for up to 12 months. Available until or before December 31, 2021.For more information on how to apply and repayment, visit the BDC page.

Highlights

The EDC Business Credit Availability Program (BCAP) Guarantee is a new partnership between EDC and financial institutions across Canada to support businesses financially impacted by the COVID-19 pandemic. It allows financial institutions to issue cash flow term loans of up to $6.25 million to existing clients, with 80 per cent guaranteed by EDC.

The EDC BCAP is intended to help with short-term liquidity and working capital needs over the next 12 months (e.g., recurring operating expenses, buying inventory, meeting accounts payable, covering delayed receivables or other needs due to cyclical cash flow).

It is not intended for debt repayment ( outside of normal monthly payments), refinancing, dividend payments or long-term asset purchases.

Learn more about the EDC BCAP term loan available to ATB medium to large-sized business clients.

Update: the deadline to apply has been extended until December 31, 2021.

How to apply (if applicable)

If you’re an ATB business client and are interested in applying for the EDC BCAP, please contact the team member you typically deal with, email us or call 1-800-332-8383.

Highlights and Eligibility

Through the Business Credit Availability Program, the Business Development Canada’s (BDC) 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.

Qualifying businesses have annual revenues in excess of about $100 million to $500 million, from any sector or industry. 

Update: the deadline to apply has been extended until December 31, 2021.

How to apply (if applicable)

For more information on how to apply and repayment, visit the BDC page. 

 

Highlights and Eligibility

Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who have approximate revenues of $50 million to $300 million. EDC will continue to work with Canadian financial institutions to guarantee 75 % 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.

How to apply (if applicable)

For more details on how to apply, please visit the EDC website.

Highlights and Eligibility

The federal government is establishing the Large Employer Emergency Financing Facility (LEEFF) to provide 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.

LEEFF is open to large Canadian employers who (a) have a significant impact on Canada’s economy, as demonstrated by (i) having significant operations in Canada or (ii) supporting a significant workforce in Canada; (b) can generally demonstrate approximately $300 million or more in annual revenues; and (c) require a minimum loan size of about $60 million.

More information is available from the Canada Development Investment Corporation.

 

How to apply (if applicable)

To apply, send an email to leeff-cuge@cdev.gc.ca with either a completed online enquiry form OR with the following information:

  1. Name of business
  2. Headquarters address
  3. Description of business
  4. Business annual revenues (FY19 results)
  5. Number of employees
  6. Stock exchange symbol (if publicly listed)
  7. Name of contact
  8. Title of contact
  9. Email of the contact (must be from the enterprise's corporate domain)
  10. Phone number of contact

Please note: only emails from the enterprise's corporate domain will be accepted.

Highlights and Eligibility

Western Economic Diversification Canada (WD) will provide eligible small- and medium-sized enterprises (SMEs) with an interest-free repayable contribution of up to $1,000,000 to help alleviate financial hardship resulting from COVID-19. The objective of this program is to assist western Canadian SMEs that do not qualify for other government relief programs.

Highlights and Eligibility

The maximum duration of the Work-Sharing program has been extended from 38 weeks to 76 weeks. The Work-Sharing program is offered to workers who agree to reduce their normal working hours because of developments beyond the control of their employers.

How to Apply (if applicable)

The Work-Sharing program is effective from March 15, 2020 and extended to September 26, 2021. For more information and to apply online, employers can visit the Government of Canada site. 

Highlights and Eligibility

The federal government has extended the time period for temporary layoffs by up to six months in the Canada Labour Standards Regulations to allow employers more time to recall laid-off employees.

Provincial Government of Alberta

Highlights & Eligibility

The Small and Medium Enterprise Relaunch Grant is available to eligible small and medium-sized businesses, cooperatives and non-profits. It offers funding to offset a portion of their relaunch costs. Alberta businesses with at least 30% revenue loss within a specified time period are eligible to receive this grant.

The program has been administered in payment phases in conjunction with time periods. The deadline to submit new applications for first and second payments was March 31, 2021. Spring payment applications closed June 30, 2021. 

Updated April 2021: Alberta businesses affected by the public health orders put into effect during April 2021 will be eligible to apply for a third payment of up to $10,000. Additional information and eligibility is available on Alberta.ca.

How to apply (if applicable)

Applications are submitted directly on the Government of Alberta website. Applications for the third payment will open soon. Check here for availability.

COVID-19

Our latest update on COVID-19, including client relief programs and branch closures.

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