Now OPEN – Small Business Support Grant

Now OPEN Small Business Support Grant
  The Ontario Government has launched the Small Business Support Grant. Starting at $10,000 for all eligible businesses, the grant will provide businesses with dollar for dollar funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown. The business must demonstrate they experienced a revenue decline of at least 20 percent when comparing monthly revenue in April 2019 and April 2020. We encourage you to apply early. To receive the grant, a small business must: Be required to close or restrict services subject to the Provincewide Shutdown effective 12:01 a.m. on December 26, 2020Have fewer than 100 employees at the enterprise levelHave experienced a minimum of 20 percent revenue decline comparing April 2020 to April 2019 revenues (or alternate time periods for businesses that were not in operation in April 2019). Businesses must provide and attest to the following information: Legal Business NameCanada Revenue Agency (CRA) Business Number (If you do not have a CRA Business Number, please apply for one here: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/registering-your-business/register.html Business typeRevenue figuresNumber of employeesBusiness’ bank account number – Name of financial institution – Address of financial institution – Financial institution number – Branch/Transit number – Account type   Applicants will also be required to acknowledge and agree to certain terms and conditions relating to funding under this program. Any person who has improperly received funding under this program is required to immediately repay the amount improperly received in full.   The Ontario Government has two other grants available; Property tax and energy bill rebates and Ontario’s Main Street Relief Grant: PPE support. You can apply for all three grants at the same time (as long as you meet the requirements).   Check out all the details at the following link and learn about the required information needed to submit an application: https://www.ontario.ca/page/businesses-get-help-covid-19-costs and click on the Apply for funding button.

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