Business Funding

Small Business Impact Grant Part 3

The Small Business Impact Grant Part 3 will provide a grant of up to $5,000 to eligible businesses that have been directly affected by public health measures in April 2021.

Eligible businesses include:

  • restaurants offering in-person dining service
  • bars or licensed drinking establishments
  • fitness, recreational and leisure facilities
  • independent retailers with a physical location
  • personal services businesses like hair and nail salons and spas
  • organizations offering live performing arts

The grant amount will be 15% of the business’s sales revenue for either April 2019 or February 2020 up to a maximum of $5,000. For businesses established after 15 March 2020, the grant amount will be equal to 15% of the sales revenue for any month from April 2020 to March 2021. Applicants can choose which month to use in calculating the grant.

Businesses must either:

  • have experienced an average monthly revenue decrease of 30% or more for the period of 1 March 2020 to 28 February 2021 compared to the same time the previous year
  • expect at least a 30% decrease in revenues in May 2021 because of current public health measures

If you previously received a Small Business Impact Grant, you’ll receive an email explaining the next steps the week of 3 May. 

Small Business Grant Part 3 – New Applicants

The small business impact grant has launched as of May 19, 2021 for new applicants and businesses with multiple establishmentsThe Small Business Impact Grant Part 3 provides a 1-time grant of up to $5,000 to eligible businesses that have been directly affected by public health measures introduced in April 2021. The grant expires June 2nd 

Details on eligibility and the application are here: https://novascotia.ca/coronavirus/small-business-impact-grant/


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 Canada Emergency Business Account provides interest-free loans of up to $60,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

The CEBA application process follows one of two streams: (i) the Payroll Stream (Applicants with employment income paid in the 2019 calendar year between Cdn.$20,000 and Cdn.$1,500,000) or (ii) the Non-Deferrable Expense Stream (Applicants with Cdn.$20,000 or less in total employment income paid in the 2019 calendar year).

Every applicant must meet the following criteria:

  • Has an active CRA Business Number (BN) with an effective date of registration on or prior to March 1, 2020.
  • Has an active business chequing/operating account with the Lender at the time of applying for CEBA. Note: If Borrower currently does not have a business chequing/operating account the Borrower must create one at their primary financial institution before applying for CEBA.
  • Has not previously used the Canada Emergency Business Account Program (the “Program”) and will not apply for support under the Program at any other financial institution.
  • Intends to continue to operate its business or to resume operations.

If you fall into the Payroll Stream and once you have completed the application with your financial institution, the Government of Canada will assess the application and inform your financial institution of the approval or decline of the loan. If approved, your financial institution will provide the funds into your business chequing / operating account.

If you fall into the Non-Deferrable Expenses Stream you must also meet the following criteria:

  • Have eligible non-deferrable expenses between Cdn. $40,000 and Cdn. $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.
  • Filed an income tax return with the CRA with a tax year ending in 2019 or, if its tax return for 2019 has not yet been submitted, 2018.

Applicants have until June 30, 2021 to apply for a $60,000 CEBA loan or the $20,000 expansion at their financial institution.


Canada Emergency Wage Subsidy (CEWS)

As a Canadian employer who has seen a drop in revenue during the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease your business back into normal operations.

On April 19, 2021, the Government announced their proposed budget which includes extending the Canada Emergency Wage Subsidy.

Canada Emergency Rent Subsidy (CERS)

Canadian businessesnon-profit organizations, or charities who have seen a drop in revenue during the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.

This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.

If you are eligible for the base subsidy, you may also be eligible for lockdown support if your business location is significantly affected by a public health order for a week or more.

Lockdown Support

Qualifying organizations that have been significantly affected by a mandatory public health order issued by a qualifying public health authority can 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 can receive a rent subsidy of up to 90%.

The CERS including the Lockdown Support is available until June 2021.

On April 19, 2021, the Government announced their proposed budget which includes extending the Canada Emergency Rent Subsidy.


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.