Applications are now open for the new Ontario Small Business Support Grant. This grant is designed to help small businesses that are required to close or significantly restrict services under the Province wide Shutdown that came into effect December 26, 2020.
Up to $20,000 is available in the form of a grant to help cover the decrease in revenue because of the Shutdown. Businesses must be able to demonstrate that they had experienced a revenue decline of at least 20% when comparing monthly revenue in April 2019 and April 2020. Businesses established after April 2019 may also be eligible assuming they meet the other criteria.
To receive the grant, the business must meet all of the following eligibility requirements:
- They were required to close or restrict services subject to the Province wide Shutdown effective 12:01 a.m. on December 26, 2020.
- Have fewer than 100 employees at the enterprise level.
- Have experienced a minimum 20 per cent revenue decline when comparing April 2020 to April 2019 revenues.
Businesses that are not eligible include those who were already required to close prior to the introduction of the modified Stage 2 measures (October 10, 2020) or essential businesses permitted to operate with capacity restrictions.
In order to apply you will need a CRA business number for your business, information about the revenue decline as well as the number of employees in the business.
For more information please visit the government of Ontario website: https://www.ontario.ca/page/businesses-get-help-covid-19-costs?fbclid=IwAR0h9CxnbUfE0CtEvslNYgUh5h59QXJePRqSIVyg1jc0hJOdT4LDUqMrbaA#section-0
To apply: https://www.app.grants.gov.on.ca/msrf/#/