Canada:
Territories Programs | COVID-19: Funding And Financial Relief Programs For Startups And Small Businesses
23 June 2020
Norton Rose Fulbright Canada LLP
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A detailed table outlining the various programs available in the
Territories are listed below. If you would like to discuss your
eligibility for any of these programs, please do not hesitate to
contact a member of our team.
CanNor's Northern Business Relief Fund (NBRF)
Description |
Eligibility |
Application details |
- NBRF provides short-term support for ongoing operations costs
to small and medium-sized territorial businesses impacted by
economic disruptions from COVID-19
- The Fund will provide eligible territorial SMEs with short-term
relief for operational costs in the form of a non-repayable grant
ranging from $2,500 to a maximum of $100,000. The funding will
cover a maximum period of 4 months, retroactive to April 1,
2020.
|
- The NBRF supports
small and medium-sized territorial businesses operating in one or
more of the territories, and which are currently, and expect to
continue, operating at a loss as a direct result of economic
disruptions associated with COVID-19. Businesses with fewer than 20
employees will be prioritized.
|
- To submit an application for the NBRF, click here
|
Relief for Remote Northern Property Taxpayers
Description |
Eligibility |
Application details |
- Ontario is giving taxpayers (individuals and businesses) in
unincorporated areas more time to pay each of the four 2020
Provincial Land Tax installments
- Taxpayers will have 90 extra days to pay without incurring
interest or penalties
|
- Individuals and businesses in northern parts of Ontario may be
eligible
|
|
Indigenous Tourism Association of Canada: COVID-19 Development
Stimulus Fund
Description |
Eligibility |
Application details |
- The overall goal
of this program is to assist in providing relief for Canadian
Indigenous tourism businesses that are being affected by the
impacts of travel restrictions and prepare for future tourism
seasons. This can include market awareness, managing larger volumes
of visitors, training qualified staff, and designing sustainable
business growth strategies
- This program is
intended to assist as many Indigenous tourism businesses as
possible from across Canada. There are limited funds available and
therefore the funding amount for any one applicant will be up to a
maximum
of $25,000. Due to the high volume of
applications anticipated, ITAC may present an offer less than the
full requested amount
|
- As part of the process to apply for this funding, this form
will ask you to describe the project for which you need funding
assistance. The project must be specific to helping your Indigenous
tourism business recover from COVID-19. There are three primary
areas of focus in 2020-2021. These include:
- Diversifying revenue streams
- Resiliency/strengthening business offerings
- Eligibility for
this program is restricted to Canadian Indigenous tourism
businesses who are at least 51% owned by Indigenous entrepreneurs
or Indigenous communities or economic development
corporations
|
|
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