In partnership with Mentor Works, an organization with expertise in helping businesses develop plans to access government funding programs, we have planned a series of spotlight articles that will provide a thorough overview of the different federal and provincial COVID-19 funding programs available to support York Region-based businesses.
As the mandated provincewide lockdown is in effect in Ontario to help stop the spread of COVID-19, many businesses need support, and the Ontario government has swiftly responded by introducing the Ontario Small Business Support Grant. This program is currently accepting applicants as of January 15, 2021.
The Ontario Small Business Support Grant will help offset decreased revenue because of the Ontario-wide lockdown.
This grant coincides with other Ontario COVID-19 business relief programs such as the Regional Relief and Recovery Fund (RRRF), which offers $40K-$1M interest-free loans to help support fixed operating costs.
Amount of Funding You Could Receive
The Ontario Small Business Support Grant will grant small businesses between $10,000-$20,000 to help cover decreased revenue expected as a result of the provincewide lockdown.
Businesses Eligible for the Ontario Small Business Support Grant
The Ontario Small Business Support Grant defines eligible small businesses as those that:
- Are required to shut down or have been significantly restricted due to the mandated shutdown;
- Have fewer than 100 employees; and
- Have experienced a minimum of 20% revenue decline in April 2020 compared to April 2019.
- Those not yet in business between April 2019-2020 will have their eligibility requirements announced soon.
- Businesses that were forced to shut down before the second-wave lockdown;
- Essential businesses that are permitted to operate with capacity restrictions; or
- Businesses with 100+ employees.
How to Apply for the Ontario Small Business Support Grant
Applications for the Ontario Small Business Support Grant have now opened. You can apply for the grant program on the Ontario Small Business Support Grant page.
ABOUT THE AUTHOR:
Mentor Works provides Canadian businesses with tailored, dynamic expertise to access government funding solutions. Our simplified approach allows businesses to accelerate their top strategic priorities and focus on what they do best.