Ontario Small Business Support Grant open for applications
Applications are open for the new Ontario Small Business Support Grant, which helps small businesses required to close or significantly restrict services under the Provincewide Shutdown effective December 26, 2020.
To receive the grant, a small business must:
- be required to close or restrict services subject to the Provincewide Shutdown effective 12:01 a.m. on December 26
- have fewer than 100 employees at the enterprise level
- have experienced a minimum of 20 per cent revenue decline comparing April 2020 to April 2019 revenues. New businesses established since April 2019 are also eligible if they meet the other eligibility criteria
Businesses that are not eligible include those that were already required to close prior to the introduction of modified Stage 2 measures on October 10, 2020, and essential businesses permitted to operate with capacity restrictions (e.g. discount and big box stores selling groceries, supermarkets, grocery stores, convenience stores, pharmacies, and beer, wine and liquor stores).
Businesses require a business number in order to be eligible. They also need to have information regarding the revenue decline and number of employees available, and would have to attest to the information provided in their application.
Once the application is successfully submitted an eligible business can expect to receive payment within approximately 10 business days.