Business Funding

Regional Relief and Recovery Fund (RRRF)

The Regional Relief and Recovery Fund was created by the Government of Canada to assist business owners and support organizations that have not been able to access other federal emergency support measures. 

Who can apply to the RRRF?

Businesses and organizations that have either:

  • Applied for other federal relief measures and have not been able to secure funds; or
  • Accessed COVID-19 relief measures and continue to experience hardship.

ACOA is now accepting applications for the RRRF online. They will continue to accept and assess applications until March 31, 2021, or until the funding runs out, whichever comes first.

Nova Scotia Business Inc Funding Search Tool

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.


Canada Emergency Business Account

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.

*COMING SOON* CEBA support is being expanded from $40K to $60K. This expansion will be available to all eligible previous and new CEBA applicants. Stay tuned to the CEBA website for more details, including launch details in the coming weeks.


Canada Emergency Rent Subsidy (CERS)Pending the passage of legislation

The Canada Emergency Rent Subsidy (CERS) would provide direct and easy-to-access rent and mortgage support directly to qualifying organizations.

Qualifying businesses, charities and non-profits would receive a subsidy of up to 65% of eligible expenses until December 19, 2020.

Lockdown Support

Qualifying organizations that have been significantly affected by a mandatory public health order issued by a qualifying public health authority would receive an additional 25% of rent support through the CERS.

Combined with the other support received under the CERS, this means that hard hit businesses, non-profits, and charities could receive a rent subsidy of up to 90%.

The CERS including the Lockdown Support would be available until June 2021.

This measure is pending the passage of legislation in the House of Commons and Senate.


Business Development Bank of Canada

Business Credit Availability Program


MentorWorks

Details on Canadian banks offering relief to Canadians impacted by COVID-19


NOW CLOSED – Small Business Reopening and Support Grant

Deadline for application was 11:59 PM July 17, 2020

The Nova Scotia Small Business Reopening and Support Grant provides funding to help some small businesses that were ordered to close or greatly reduce operations by Public Health Order, or that were greatly impacted by social distancing and orders to stay home.

Available funding to eligible applicants includes:

  • one-time, non-repayable grant of up to $5,000
  • business continuity voucher valued at $1,500 to obtain business consulting services to adapt to the effects of COVID-19

The amount of the grant is calculated as 15% of sales revenues for either the month of April 2019, May 2019, or February 2020 (applicant chooses any one of those three months), up to a maximum of $5,000.

Your small business may apply if it:

  • Was established prior to March 15, 2020
  • Intends to reopen
  • Has experienced a year-over-year revenue decline of at least 30% from either April 2019 – April 2020 or May 2019 – May 2020
  • Falls into one of the following four eligible groups:

Group 1 – Businesses that were required to cease or substantially curtail operations under Public Health Order

Group 2 – Small Nova Scotia retailers with leased or owned commercial premises

Group 3 – Small, independent gas retailers

Group 4 – Dental offices


NOW CLOSED – Canada Emergency Commercial Rent Assistance (CECRA)

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.  This was extended to include July, August, and September.