Ontario Small Business Support Grant: Covid-19 Funding
On January 15, 2021, the Ontario government opened applications for the new Ontario Small Business Support Grant, which helps small businesses that are required to close or significantly restrict services under the Provincewide Shutdown effective December 26, 2020.
Starting at $10,000 for all eligible businesses, the grant provides businesses with funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown.
Eligibility Requirements and Application can be found here: 🔗👉🏻Government of Ontario: Small Business Support Grant
The business must demonstrate they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. This time period was selected as it reflects the impact of the public health measures in spring 2020, and as such provides a representation of the possible impact of these latest measures on small businesses.
New businesses established since April 2019 are also eligible provided, they meet the other eligibility criteria. Businesses will be able to use the support in whatever way makes the most sense for them. For example, some businesses could use the support to pay employee wages, while others may need support maintaining their inventory.