Fundingportal is an online third-party tool that helps you navigate government support programs and services.
To find government support programs and services available to Nova Scotia companies, simply fill out the fields in the Search Fundingportal Database tool.
Note: The Fundingportal has been updated to include COVID-19 specific funding. All you have to do is include the keyword COVID-19 in your search.
The new Canada Emergency Business Account will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019.
Qualifying businesses apply online through the bank or financial institution that holds their primary business operating account.
Applicants need their T4SUM document from the Canada Revenue Agency, as well as their 15-digit CRA business number or employer’s account number. Bank account information is also required.
Deadline for application is April 25, 2020
The Nova Scotia Small Business Impact Grant is available to Nova Scotia small businesses who:
- were directed to close or to substantially curtail operations in the COVID-19 public health order issued by the Chief Medical Officer of Health;
- anticipate revenue loss of at least 30% for the month of April 2020;
- established prior to March 15, 2020;
- are sole proprietorships, partnerships, corporations, societies, social enterprises, not for profits, charities in business, and other similar organizations;
- if incorporated, pays the small business corporate tax rate on income.
The grant amount is calculated as 15 per cent of the business’s monthly revenue from sales up to a maximum grant of $5,000.
Businesses may choose whether the calculated grant amount is based on sales revenues from April 2019 or February 2020.
This flexible, one-time, upfront grant can be used for any purpose necessary.
The Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June.
Implementation of the program will require a partnership with provincial and territorial governments who are responsible for property owner-tenant relationships. More details will be available soon.
Business Credit Availability Program
Details on Canadian banks offering relief to Canadians impacted by COVID-19