Please find below information and links relevant to businesses ONLY. For community related information, please click on the COVID-19 update button on our “Residents” page.
June 2nd, 2020 – Regional Relief and Recovery Fund (RRRF) Applications now open!
The RRRF provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.
In order to provide targeted assistance to the small towns and communities served by the SNCFDC, the focus will be on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to our communities, with loans up to $40,000. Applicants must also meet the following criteria:
-established prior to March 1, 2020;
-impacted adversely by the COVID-19 pandemic;
-viable and not experiencing other financial difficulties prior to March 1, 2020;
-have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.
Applications can be submitted for loans of up to $40,000 to help address working capital needs.
Contact Superior North CFDC office by telephone or email.
1-888-445-9999 ext #1 Ron Salo firstname.lastname@example.org or
1-888-445-9999 ext#2 Christine Rajala email@example.com
Click on the link below for details:
June 1st, 2020 – Canada Emergency Commercial Rent Assistance
The applications for Canada Emergency Commercial Rent Assistance are now open through the Canada Mortgage and Housing Corporation’s (CMHC) application portal.
May 14th, 2020- Don’t qualify for the Relief and Recovery Fund? Superior North CFDC may be able to help!
The CFDC’s will be responsible for delivering loans and supports to the following categories as these are not eligible for the FedNor program:
- Sole proprietorships or partnerships;
- Businesses operating in the following sectors:
- Retail (i.e. convenience stores, gas stations, clothing stores)
- Accomodation (i.e. hotel, motel, bed and breakfast)
- Food and Beverage (i.e. restaurants, chip stands, juice stands)
- Professional Services (i.e. lawyers, doctors, dentists)
Please contact Superior North CFDC for info:
Call: 1-888-445-9999 or 807-825-4505
Ron Salo – General Manager firstname.lastname@example.org Ext# 1
Christine Rajala – Lending Coordinator email@example.com Ext# 2
May 13th, 2020 – Regional Relief and Recovery Fund through Innovation, Science and Economic Development Canada
In Northern Ontario, this program is being delivered through FedNor with a total allocation of 49.5M for Northern Ontario. It is intended to support a) businesses, including Indigenous businesses, that have not qualified or been rejected from other Canada- COVID support programs and b) not-for-profit organizations that support businesses in Northern Ontario. There are clear eligible and non-eligible costs in the eligibility document and maximum funding will not normally exceed $250,000.
Eligibility Requirements and Application Information: https://fednor.gc.ca/eic/site/fednor-fednor.nsf/eng/fn04592.html#6
Important: The program opens May 13, with applications being accepted until the funds run out, once the funds are fully allocated, applications will no longer be accepted.
May 7th, 2020 – Ontario Eases Restrictions on Retail Stores and Essential Construction
The Ontario government is allowing all retail stores with a street entrance to provide curbside pickup and delivery, as well as in-store payment and purchases at garden centres, nurseries, hardware stores and safety supply stores. It is also expanding essential construction to allow below-grade multi-unit residential construction projects like apartments and condominiums to begin and existing above-grade projects to continue.
Click here for details: https://news.ontario.ca/opo/en/2020/05/ontario-further-eases-restrictions-on-retail-stores-and-essential-construction-during-covid-19
April 29th, 2020 – COVID-19 Survey for Nipigon-Based Businesses
The Township of Nipigon is conducting a comprehensive survey to gage the impact of the COVID-19 pandemic on Nipigon-based essential and non-essential businesses. If you own or manage a business in Nipigon, please take a few minutes to complete our survey by clicking on the link below. The survey will be available online until Monday, May 4th at 3:00 pm.
April 27th, 2020 – Emergency Wage Subsidy
The Government of Canada is now accepting applications by eligible businesses for the Canada Emergency Wage Subsidy. This is a 75% wage subsidy for employers who have seen a gross drop in revenues of 30% in the months of March, April or May compared to last year.
April 25th, 2020 – Business Technology Improvement Fund
A pause or reduction in business can be an opportunity to invest in ICT, a greater online presence, e-commerce, or tech solutions. Northwestern Ontario Innovation Centre’s Business Technology Improvement Fund offers a grant up to 50% of eligible project costs. For more information contact Jeff Coull at firstname.lastname@example.org or call 807-768-6688. Click here for more information: https://www.nwoinnovation.ca/btifhttps://www.nwoinnovation.ca/ictn
April 24th, 2020 – Emergency Commercial Rent Assistance Program
Assistance is available for small businesses/landlords affected by COVID-19. Click here for more information: https://news.ontario.ca/opo/en/2020/04/ontario-canada-emergency-commercial-rent-assistance-program.html
April 17th, 2020 – Small and Medium Enterprise Loan
Will enable up to 40B in lending, supported through Export Development Canada and the Business Development Bank; intended for SME’s that require help to meet cash flow, guaranteed loans for small businesses. Click here for more information: https://www.canada.ca/en/department-finance/programs/financial-sector-policy/business-credit-availability-program.html
April 17th, 2020 – Business Development Canada Co-Lending Program
This program provides term loans for operational and liquidity needs of businesses; provides 3 types of loans depending on the revenue of businesses. 80% of financed amount provided by BDC and the remaining 20% by your financial institution. Click here for more information: https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19
April 17th, 2020 – Canadian Emergency Business Account (CEBA)
- CEBA provides credit for small businesses; 100% funded by Government of Canada.
- Eligibility for the program has been expanded- it is now available to businesses which paid between 20,000 and 1.5M in total payroll in 2019 and operating as of March 1, 2020. This includes smaller (micro) businesses and not for profits. It replaces the previous payroll range of 50,000 to 1M
- Under CEBA, financial institutions will be able to provide interest free credit of up to 40,000 to eligible businesses.
- If the loan is repaid by December 31, 2022 – 25% up to 10K will be forgiven.
- Small businesses and not for profits should contact their financial institution to apply for these loans.
April 9th, 2020 – Superior North CFDC Financing
To mitigate the impacts of the Covid-19 pandemic on businesses between Dorion to Manitouwadge, Superior North CFDC is offering to retail and service sector businesses a special financing package. The fund will provide up to $20,000 in loans. Applications must be supported by a rationale for assistance. There will be a minumum of three months grace period before payments will begin, and zero interest until October 1st, 2020.
Call Ron at 807-825-4505 ext #1 or Christine at 807-825-4505 ext # 2, or email email@example.com or firstname.lastname@example.org. Or click on www.sncfdc.org for more information.
April 8th, 2020 – Canada Summer Jobs Program
The temporary changes described below are applicable ONLY TO FUNDED APPLICANTS to the program. There are no new intakes at this time. If you have applied for this program and have been approved for summer of 2020 see below for temporary changes to the program for this year:
- An increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee
- An extension to the end date for employment to February 28, 2021
- Allowing employers to adapt their projects and job activities to support essential services
- Allowing employers to hire staff on a part-time basis
For more details please visit: https://www.canada.ca/en/employment-social-development/services/funding/canada-summer-jobs.html
March 30th, 2020 – Canada Emergency Response Benefit (CERB)
If you have stopped working because of COVID-19, the Canada Emergency Response Benefit (CERB) may provide you with temporary income support. The CERB provides $500 a week for up to 16 weeks.
For more details and information on how to apply visit: https://www.canada.ca/en/services/benefits/ei/cerb-application.html