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Additional COVID-19 support for Alberta small business

Additional COVID-19 Support for Alberta Small Business

Small businesses in Alberta will be able to benefit from a new financial relief program that will put more money in the hands of job creators and provide more security for workers and their families.

Starting in mid-April, the Enhanced COVID-19 Business Benefit will provide funding to eligible small and medium businesses most affected by the pandemic and ongoing public health restrictions. Payments will be calculated based on 15% of the eligible business’s monthly revenue, up to a maximum of $10,000. Businesses can use these funds as they see fit to help offset the costs of re-opening, and implementing public health measures including:

  • physical barriers
  • purchasing personal protective equipment and disinfecting supplies
  • paying rent and employee wages
  • replacing inventory
  • expanding online business or e-commerce opportunities

To be eligible for the Enhanced COVID-19 Business Benefit, applicants must:

  • be a businesses, cooperative or non-profit organizations with fewer than 500 employees
  • demonstrate a revenue reduction of at least 60%
  • report the levels of provincial and federal support received, to ensure no more than 80% of revenue was covered by these support

Payments under the Enhanced COVID-19 Business Benefit will be available in April 2021 following the conclusion of the Small and Medium Enterprise Relaunch Grant program.

  • Organizations eligible for the Small and Medium Enterprise Relaunch Grant can apply for funding through this program until March 31.
  • Detailed information on program parameters will be included in the program guidelines closer to the launch date in April.
  • Money received under this program does not need to be repaid.

Expansion to RRRF Loans

Update: Community Futures is offering an increase in support for eligible RRRF applicants.

The Regional Relief and Recovery Fund will now provide access to an additional loan of up to $20,000 to eligible SMEs who already received a $40,000 loan and up to $60,000 for new applicants.

Click here for more detailed information.

Federal Funding to Help Local Businesses

Alberta Community Co-op Association (ACCA) Receives Federal Funding to Help Local Businesses

Recognizing the difficulties the COVID-19 pandemic has inflicted on small and medium-sized enterprises (SME), the Federal Government Canada recently made funds available through the Department of Western Economic Diversification (WED).

Working with Community Futures West Yellowhead (CFWY), the Alberta Community Co-op Association will help local businesses explore and develop co-operative business solutions.

For additional information, please click here.

 

 

CFWY Office Closed to the Public

You can find our contact information here, or click here to book a virtual appointment.

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Community Futures West Yellowhead
221 Pembina Avenue
Hinton, AB T7V 2B3

(780) 865-1224
1-800-263-1716

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Communities Served

Bickerdike, 
Big Eddy, 
Brule, 
Bryan Spur, 
Cadomin, 
Carrot Creek, 
Coal Valley, 
Dalehurst, 
Diss, 
Edson, 
Eirth, 
Embaras, 
Entrance, 
Evansburg, 
Galloway, 
Grande Cache, 
Grey, 
Hanlon, 
Hargwen, 
Hinton, 
Holloway East, 
Holloway West, 
Hornbeck, 
Jasper, 
Leadman, 
Leyland, 
Luscar, 
MacKay, 
Marlboro, 
Medicine Lodge, 
Mercoal, 
Mountain Park, 
Niton Junction, 
Nojack, 
Pedley, 
Peers, 
Pochantas, 
Robb, 
Shaw Fidler, 
Solomon, 
Steeper, 
Sterco, 
Swan Landing, 
Thordarson, 
Wild Hay, 
Wildwood, 
Winniandy North, 
Winniandy South, 
Wolf Creek, 
Yates, 

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