NEWS RELEASE – The Ontario government has opened applications for the new Ontario Small Business Support Grant.
The grant, first announced in December, provides a minimum of $10,000 to a maximum of $20,000 to eligible small businesses who have had to restrict their operations due to the Provincewide Shutdown. The tightened restrictions were put in place to help stop the alarming rise of COVID-19 cases in Ontario.
“As Ontario’s employers do their part to defeat COVID-19, they are facing unprecedented challenges as a result of this global pandemic,” said Peter Bethlenfalvy, Minister of Finance and President of the Treasury Board. “I encourage every eligible small business owner in Ontario to visit Ontario.ca/COVIDSupport to access the support our government has made available. While we still have a lot of work ahead of us, we can all look confidently to the future as we resolve to do our parts and put COVID-19 behind us.”
Small businesses required to close or significantly restrict services under the Provincewide Shutdown will be able to apply for a one-time grant and use this funding in whatever way makes the most sense for their individual business needs. For example, some businesses could need support paying employee wages, while others could need support with their rent.
Eligible small businesses include those that:
- Were required to close or significantly restrict services due to the Provincewide Shutdown being imposed across the province effective 12:01 a.m. on December 26.
- Have fewer than 100 employees at the enterprise level.
- Have experienced a minimum of 20 per cent revenue decline in April 2020 compared to April 2019. New businesses established since April 2019 will also be eligible if they meet the other eligibility criteria.
“Small businesses are the heart of Ontario’s economy,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “The Ontario Small Business Support Grant will help thousands of small businesses get through this difficult time, while strengthening our province’s economic recovery.”