The Alberta government is extending its relief supports to small and medium-sized businesses impacted by COVID-19.
The Small and Medium Enterprise Relaunch Grant offers financial assistance to Alberta businesses, cooperatives, and non-profit organizations with fewer than 500 employees that faced restrictions or closures from public health orders. The grant, having been initially launched in June 2020 already had seen one increase. To view the details, please visit our blog post here.
Now, Alberta is expanding and increasing the Small and Medium Enterprise Relaunch Grant with a new lower threshold and increased grant amount. Back in November, the government announced that Alberta businesses impacted by recent public health orders were eligible to apply for a second payment through the program. This second payment will now be 15% of pre-pandemic monthly revenues up to a maximum of $15,000 – for a total of $20,000 in potential funding available for each business, up from the original $5,000.
This second payment is available to businesses operating in areas on the provincial watch list where new health restrictions have been implemented. Applications for the second payment in areas under enhanced measures will open this month.
Additionally, the program is now expanding to include job creators who have experienced a 30% revenue loss due to the COVID-19 pandemic. This lowers the threshold from the existing requirement of 40% revenue loss. The 30% threshold will be available to impacted businesses retroactive to March.
More program details, including updated eligibility criteria and how to apply for the second payment, will be outlined on the program web page when finalized.
To support businesses affected by the public health measures introduced in April 2021, a spring 2021 application period opened on April 23.
Spring payment: Applications open. Application intake closes on June 30.
First and second payment: Applications closed on March 31, 2021
If an application for a previous payment was submitted on or before March 31, it will remain under consideration until a decision on eligibility has been reached.
For eligibility, and notes on how businesses can use the funding, visit our blog post here.
The province announced on Wednesday that applications for the Small and Medium Enterprise Relaunch Grant program, which launched in April, would be extended to June 30. The relief funding is available to businesses, cooperatives and non-profit organizations with fewer than 500 employees that have been impacted by the restrictions brought in on May 4. Those who are eligible must show that they have experienced at least 30% in revenue loss.