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. Updated November 24, 2020.

Federal Government of Canada

Highlights and Eligibility

Update: The Government of Canada has extended the application deadline to December 31, 2020. They have also proposed to expand CEBA to include an additional interest-free $20,000 loan. With this update, 50% of the loan would now be forgiveable if paid by December 31, 2022. More details will be announced.

The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, your business must:

  • Have been registered and operational as of March 1, 2020
  • Be able to demonstrate you have paid between $20,000 to $1.5 million in total payroll in 2019.
  • For applicants with $20,000 or less in total employment income paid in the 2019 calendar year your business: a) must have a Canada Revenue Agency business number and have filed a 2018 or 2019 tax return, and b) have eligible non-deferrable expenses between $40,000 and $1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.

Learn more about CEBA



Highlights and Eligibility

The new Canada Emergency Rent Subsidy, will provide rent and mortgage support directly to eligible tenants (but will also support property owners) until June 2021. Applicants can make retroactive claims for the period beginning September 27 until June 2021.

This new 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 rent subsidy and the Lockdown Support are available until June 2021. 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 Mar 15 to June, 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. The new deadline to apply is January 31, 2021, or 180 days after the end of the claim period, whichever comes later.

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 June 30, 2021.

How to apply (if applicable)

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 customers.

Update: the deadline to apply has been extended until June 30, 2021.

How to apply (if applicable)

If you’re an ATB business customer 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 June 30, 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)

More details will be made available soon.

 

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.

Eligibility criteria for those seeking funding up to $40,000 is here.
Eligibility criteria for those seeking funding of more than $40,000 is here.

 

How to apply (if applicable)

Apply online now

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 to March 14, 2020. 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.

COVID-19

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

Provincial Government of Alberta

Highlights & Eligibity

Updated: Businesses that operate in areas on the provincial watch list that have new health restrictions, will be eligible for a second payment

The Small and Medium Enterprise Relaunch Grant is available to eligible small- and medium-sized businesses, cooperatives and non-profits. It offers up to $5,000 in funding to offset a portion of their relaunch costs.

The program offers a one-time payment and is available to businesses that say a 40% revenue reduction (reduced from the original 50%) in April or May 2020 due to the pandemic. 

How to apply (if applicable)

Apply here. Application's are open until March 31, 2021. 

Highlights & Eligibity

Small, medium and large private sector employers can defer WCB premium payments until 2021.

For small and medium businesses, the government will cover 50% of the 2020 premium when it is due in 2021 - saving businesses $350 million.

Large employers will have their 2020 WCB premium payments deferred until 2021, at which time their premiums will be due.

Employers who have already paid WCB premiums in 2020 are eligible for a rebate or credit.

Highlights & eligibity

Hotels and other lodging providers are permitted to keep tourism levy amounts collected between March 1 and December 31, 2020. Providers that have already remitted amounts collected after March 1, 2020 are entitled to a refund. A deferral of tourism levy remittances remains in place until August 31, 2020 for unpaid amounts that became due to the government on or after March 27, 2020, but are not eligible for the additional assistance described above.

Need help?

Our Client Care team will be happy to assist.



Customer Support

Available now

Canada: 1-800-332-8383

ATB Virtual Assistant
The ATB Virtual Assistant doesn't support landscape mode. Please tilt your device vertically to portrait mode.
×