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 June 9, 2021, 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

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