COVID Related Programs
City of Ottawa Council approved a Farm Grant Program to provide financial relief to working farmers. The grant program will assist eligible farm property owners by allowing the June final tax instalment to be paid in December 2020.
The financial relief package allows businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral.
To continue to help reduce the financial burden on businesses during the COVID-19 pandemic, any repayment of deferred WSIB premiums will not begin before January 2021. We will provide more information on the repayment installment schedule for deferred amounts, along with 2021 premium rate information, in the fall.
Any employer participating in the financial relief package will have to report deferred amounts by October 31, 2020. Regular monthly and quarterly reporting and payment schedules will resume in September 2020 for all businesses.
To support families, small businesses and farms while Ontario plans for the safe and gradual reopening of the province, the Government of Ontario has introduced a new fixed electricity price of 12.8 ¢/kWh for customers that are on time-of-use (TOU) prices. Effective June 1, 2020, that price applies to electricity used at all hours of the day, seven days a week. Having the same price apply at all hours of the day is a more predictable way to pay for power at a time when Ontarians continue to work and learn from home.
Up to $12.5 million for your operational cash flow requirements, co-financed by BDC and your primary financial institution.
Junior loans ranging between $12.5 million and $60 million for medium-sized businesses particularly impacted by the COVID-19 pandemic and/or the recent decline in oil and gas prices.
The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic and they have been unable to access other Government of Canada measures.
The Fund, valued at more than $962 million nationally, is delivered by Canada’s six regional development agencies.
In southern Ontario, $252.4 million is available through FedDev Ontario.
Restaurants Canada (The Voice of Foodservice)