Chris Edley here, Esquimalt Chamber President, with an update on some of the support programs that you should be aware of. With COVID-19 bringing many businesses to a steady-state struggle, there are a number of recent announcements that you should know about because they might help your business! In this newsletter you will find important information about:

 – The Canada Emergency Wage Subsidy CEWS
– The all-new Canada Emergency Rent Subsidy CERS
– The Canada Emergency Business Account (free money if you qualify)

CEWS – The Canada Emergency Wage Subsidy
This one has been around for a while, but it’s still going. If you have reduced revenue compared to last year, or compared to Jan-Feb-Mar this year, then you are eligible. You can back-date your application by 180 days from the end of the current application period, and the program will now run until June 2021. All information can be found at this link.
CERS – The Canada Emergency Rent Subsidy
This is a new one! The original rent subsidy was hard to access because it required your landlord to apply and even chip in to support your subsidy. No longer! The new CERS is open to business owners that rent/lease, or own, their business-operations property. The subsidy helps cover costs starting Sept 27 2020 up to June 2021. Full information can be found at this link.
CEBA – The Canada Emergency Business Account
This is an addition to the original CEBA program. The original program provided zero-interest loans of $40,000 with $10,000 forgiven if $30,000 was paid back in full by Dec 31, 2022 (yes – $10,000 of free money). This has now been extended to allow for an extra $20,000 zero-interest loan (bringing the total loan amount to $60,000) with additional forgiveness of $10,000 (yes $10,000 of more free money). Eligibility requirements have also been expanded since the original program offering, so it is not reliant on simply having employees in 2019. Full eligibility info can be found at this link. You can apply for this program through your financial institution.