.jpg)
Last updated on April 27, 2020
RGD highlights the programs introduced by the New Brunswick, New Foundland and Labrador, Northwest Territories, Nunavat, Prince Edward Island, Saskatchewan and Yukon to help combat the economic impact of the current crisis.
New Brunswick
-
Small business, sole proprietors, self-employed individuals with sales of less than $10 million in the most recent fiscal year can apply for working capital loans up to $100,000 through the NB Small Business Emergency Working Capital Program.
-
Corporations may apply to Opportunities New Brunswick for working capital loans up to 1 million.
-
Small and medium-sized non-profits in NB can apply for a grant up to a maximum of $10,000.
-
On a case-by-case basis, the existing provincial loans and interest repayments will be deferred for up to six months.
-
Though business property taxes must be paid by May 31, late penalties will be reviewed on a case-by-case basis to see if the penalty can be waived due to undue financial challenges
Residents of New Brunswick can email or call1-833-799-7966 for business assistance.
Click here for more information on New Brunswick's COVID-19 mitigation initiatives.
New Foundland and Labrador
- As of March 30, 2020, all Newfoundland and Labrador student loan repayments have been suspended until September 30, 2020.
- The Government of Newfoundland and Labrador continues to grant Income Support to low-income groups however, individuals cannot receive both provincial Income Support and the CERB at the same time.
Residents of New Foundland and Labrador can call on 1-877-729-7888 (Eastern Region) or 1-866-417-4753 (Western Region) for assistance.
Click here for more information on New Foundland and Labrador COVID-19 mitigation initiatives.
Northwest Territories
- In response to the COVID-19 public health emergency, ECE has modified Income Security Programs processes and increased benefits to the NWT’s most vulnerable residents and their families. A one-time emergency allowance will be paid to those eligible in March to help them with a 14-day supply of food and cleaning products as the stores have them available. Individuals receive $500 and families receive $1,000.
- Repayment of all GNWT student loans has automatically been be suspended until September 30, 2020.
- The Student Financial Assistance (SFA) office has cancelled all pre-authorized debits, scheduled credit card payments and will not process any post-dated cheques that are on file.
Click here for more information on Northwest Territories' COVID-19 mitigation initiatives.
Prince Edward Island
- The Prince Edward Island COVID-19 Income Support Fund provides a one-time lump sum taxable payment of $750 to individuals.
- The Emergency Income Relief Fund for self-employed individuals provides a maximum of $500 per week for the period between March 16 to March 29, 2020. Applications can be made until April 30.
- The Emergency Relief - Worker Assistance Program for registered private sector businesses or non-profit organizations where employed workers have experienced a reduction of at least 8 hours per week, as compared to pre-COVID-19 hours, during the four week period March 16, 2020-April 11, 2020. Applications can be made until April 30.
- Small businesses can apply for working capital loans up to a maximum of $100,000 per company.
Residents of Prince Edward Island can call 1-866-222-1751 or email for business assitance.
Click here for more information on Prince Edward Island's COVID-19 mitigation initiatives.
Saskatchewan
- The Saskatchewan Small Business Emergency Payment (SSBEP) provides a one-time grant for small and medium-sized enterprises equal to 15 per cent of a business's monthly sales revenue,up to a maximum of $5,000.
- Saskatchewan Workers Compensation Board (WCB) is waiving premium penalties for employers effective April 1 until June 30, 2020.
- Repayment of all provincial student loans has automatically been be suspended until September 30, 2020.
Click here for more information on Prince Edward Island's COVID-19 mitigation initiatives.
Yukon
- Under the Yukon Business Relief Program, businesses who have faced a minimum of 30 per cent loss in gross revenue will receive between 75 and 100 per cent of their fixed costs up to a maximum of $30,000 per month for costs incurred from March 23, 2020, to May 22, 2020.
- Government of Yukon is also in the process of developing a stimulus package for Yukon businesses and workers.
Residents of Yukon can e-mail or call 867-456-3803, or 1-800-661-0408 (extension 3803) for assistance.
Click here for more information on Yukon's COVID-19 mitigation initiatives.
Nunavat currently has no cases of COVID-19, for more information click here.
Sources: Editors Canada, Government of Canada Website
Stay tuned for our next article on the process of applying for Canada Emergency Wage Subsidy starting April 27.
This article is purely informational in nature and should not, in anyway, be construed as expert advice. Please contact your lawyers, accountants or relevant government institutions for any queries.
Our legal partners, WeirFoulds LLP have established a COVID-19 resources portal.
Learn about additional business support from the Canadian government.