COVID-19 Response Plan - New Brunswick Government - Support for Canadians

COVID-19 Response Plan - New Brunswick Government - Support for Canadians

Synopsis
5 Minute Read

COVID-19 Response Plan
New Brunswick Government – Support for Canadians
Last updated January 19, 2022, 4:00 pm MST

Insight
Insight

NS Support for Businesses

NB Small Business Recovery Grants

Eligibility

  • Eligible businesses must:
    • Be a for-profit business
    • Have been open on or before February 1, 2020
    • Employ between 2-99 people full-time
    • Have experienced a year-over-year revenue drop of 30% or more for months under COVID-19 restrictions
    • Have faced either orange or red alert levels in NB for at least one week from October 10, 2020 to March 31, 2021

Benefit

  • Funding includes a non-repayable grant equal to 15% of the business’ revenue from sales for a comparable period in the previous year, up to $5,000

Action Needed


NB Small Business Emergency Working Capital Program

Eligibility

  • Accessible to small businesses employing 1 to 49 employees, including sole proprietorships / self-employed, with sales of less than $10 million in most recent fiscal year

Benefit

  • Working capital loans up to $100,000
  • Businesses not required to pay interest for first 6 months; interest payments required in months 7-12; principal and interest payments begin month 13

Action Needed

  • Detail available here

Community Investment Fund (CIF)

Eligibility

  • For 2020-21 fiscal year only, a COVID-19 Relief category added to CIF for non-profit organizations whose sustainability has been negatively impacted by COVID

Benefit

  • Funding to help cover certain general admin/operation costs, equipment or supplies to comply with public health recommendations or projects addressing impacts of COVID-19

Action Needed

   

Federal Support for Canadians

  • For our summary of the Federal support programs for businesses and individuals, please visit HERE

Insights

  • Confidence

    January 21, 2022

    Take control of your payments, on your terms, with ease

    Up the ease factor with an automated payment process that keeps you in control and in the know – wherever you are.

  • Performance

    January 19, 2022

    Tax Update: 2022 Automobile Deduction Limits and Expense Benefit Rates for Business Announced

    The Department of Finance recently announced the 2022 automobile expense deduction limits and prescribed rates for automobile operating expense benefits.

  • Progress

    January 19, 2022

    Three common barriers to M&A success in the technology sector — and how to avoid them

    Why do so many merger and acquisition deals look great on paper but fall short of  expectations? Often, the devil isn’t in the details — but what happens after the transaction  closes.