Disclaimers:
- Western REN Staff are committed to keeping this FAQ as up to date as possible.
- Nova Scotia Business Inc (NSBI) has also created a COVID-19 resource page. Link here.
Employers and Business Owners
Q: What supports are available to help me pay my staff?
A: Canada Emergency Wage Subsidy – The federal government launched a 75% wage subsidy called the Canada Emergency Wage Subsidy designed to help employers avoid layoffs, and even hire back those who already have been laid off.
- Benefit:
- The subsidy will cover up to 75% of remuneration paid, up to a maximum benefit of $847 per week.
- Subsidy is retroactive to March 15, 2020.
- The program is to be extended to be available until June, 2021.
- Additional Information:
- How to apply:
A: The Work-Sharing Adjustment Program is designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer.
- Benefit:
- The measure provides income support to employees eligible for Employment Insurance benefits who work a temporarily reduced work week while their employer recovers.
- Additional Information:
- How to apply:
- https://www.canada.ca/en/employment-social-development/services/work-sharing/guide-applicant.html
- Submit completed applications to: ESDC.TP-ATL-WS-TP.EDSC@servicecanada.gc.ca
Q: How can I obtain additional credit, or access to capital, for my Business?
A: Regional Relief and Recovery Fund – You may be eligible to benefit from the Regional Relief and Recovery Fund, offered through the Atlantic Canada Opportunities Agency (ACOA) and the Canada Business Development Corporation (CBDC).
- Benefit:
- The program acknowledges that previous and current programming leaves some gaps, so this fund will allow Small and Medium-sized businesses, and Organizations that provide products and services to other businesses to access the supports they need right now.
- Loans of up to $40,000 that will be interest free through Dec. 31, 2022. Those who repay 75% of the loan before that date will have the remainder of the loan forgiven.
- Additional Information:
- ACOA to support Small and Medium-sized businesses that provide products and services to other businesses; and to Organizations that provide support services to businesses.
- Atlantic Association of CBDCs to support main street businesses such as restaurants and retailers in small, rural and remote communities across the region.
- How to apply:
A: Canada Emergency Business Account – Small businesses will have access to government backed loans for under the Canada Emergency Business Account Program.
- Benefit:
- The federal government will guarantee bank loans of up to $40,000 for small businesses, which will be interest-free for the first year.
- Under certain conditions, up to $10,000 of the loans could be non-repayable.
- Additional Information:
- How to apply:
- Contact your primary financial institution for information.
A: Co-Lending Program for Small and Medium Sized Enterprises – The Business Development Bank of Canada (BDC) is offering a new Co-Lending Program for Small and Medium Sized Enterprises.
- Benefit:
- The Co-Lending Program will bring the BDC together with financial institutions to co-lend term loans to SMEs for their operational cash flow requirements.
- Eligible businesses may obtain commercial loans between $1 million and $12.5 million.
- Additional Information:
- How to apply:
- Contact your primary financial institution for information.
A: Perennia Seafood COVID-19 Response Program – This fund provides financial assistance to commercial entities in the fishing, aquaculture, marine plant harvesting and seafood buying/processing sector in Nova Scotia to support implementation and development of operational changes required to allow for business continuity and safe workplace practices needed as a result of on-going COVID-19 guidelines and restrictions.
- Benefit:
- The fund will assist companies in purchasing Personal Protective Equipment and other safety materials, and in developing new protocols and procedures to ensure safety of both seafood products and employees who are essential to maintaining operations.
- Commercial applications are eligible for 70% non-repayable funding assistance on total eligible project costs up to a maximum of $25,000 per licensed operation.
- Additional Information:
- Applicants must contribute a minimum of 20% of their own funds.
- Click here for more information.
- How to apply:
- Click here to download the application form.
- Submit completed application forms by email, fax, or mail.
A: Farm Credit Canada Credit Available – The Federal Government is increasing support for farmers, agriculture, and food industry by increasing the credit available through Farm Credit Canada.
- Benefit:
- Deferral of principal and interest payments up to six months for existing loans; or
- Deferral of principal payments up to 12 months; or
- Access to an additional credit line up to $500,000, secured by general security agreements or universal movable hypothec
- Term loans up to $2.5 million, with no fees and an 18-month interest-only option available over a 10-year amortization. These funds can be used for working capital and to modify production due to the impacts of COVID-19.
- How to apply:
Q: Is there any flexibility available to defer mortgage or rent payments at this time?
A: Canadian banks have committed to work with their customers on a case-by-case basis to find solutions to help them manage hardships caused by COVID-19, including mortgage deferrals.
- Benefit:
- COVID-related mortgage deferral is available for an indefinite period and customers do not face a deadline for having to seek relief. They can approach their bank as the need arises.
- Customers should understand that this is not mortgage forgiveness. Mortgage deferral means that payments are skipped for a defined period of time, during which interest which would otherwise be part of the deferred payments is added to the outstanding balance of the mortgage. The added interest is incorporated into the monthly payment, either when payments resume at the end of the deferral period or upon renewal at the end of the mortgage’s term.
- Additional Information:
- How to apply:
- Canadians who are impacted by COVID-19 and experiencing financial hardship as a result should contact their financial institution regarding flexibility for a mortgage deferral.
Q: Are there any resources available to help my tourism businesses attract new customers?
A: Tourism Accommodations Real Property Tax Rebate Program – Nova Scotia’s hotel, motel and inn operators are getting assistance with property tax bills to help with COVID-19 recovery.
- Benefit:
- The program will provide qualified operators a 25 per cent rebate on payment of 2020-21 commercial property tax.
- Additional Information:
- Qualified operators must, for the period from April 1, 2020 to Oct. 31, 2020, have incurred a year-over-year revenue loss for room accommodation of greater than 30 per cent compared to same period the previous year.
- Click here for more information.
Q: How do I maintain a clean and safe working environment for my business?
A: MEDCAN has created a Restarting the Canadian Economy Checklist of Considerations for a Safe at Work Environment.
A: The Canadian Centre for Occupational Health and Safety has released guidance sheets with health and safety tips and good practices for employers and workers, specific to multiple industries:
A: The Certified Nursing Assistants website includes a handwashing guide page taken from their training resource materiala. It contains handwashing steps that are relevant for the public that will help prevent the spread of infection disease.
A: The Public Health Agency of Canada has developed a toolkit to provide guidance on cleaning and disinfecting of public settings, including schools, universities, public libraries, museums, public transit, communal residences and workplaces.
A: The Business Development Bank of Canada has created a toolkit of templates to help businesses minimize the risk that an emergency poses to operations and bottom line.
A: The Canadian Federation of Independent Businesses has compiled a list of frequently asked questions to help small business owners prepare for a potential crisis.
A: The Government of Canada has compiled many helpful resources to help Canadian businesses at this time.
A: The Government of Canada has announced and compiled many supports for Canadian businesses.
A: Nova Scotia Works Centres are operational and available to provide services to Cape Breton Employers and Job Seekers through virtual platforms.