Important COVID-19 Information
We stay on top of the evolving situation and updates that impact your business - our knowledge and expertise will help you navigate through this.
The COVID-19 pandemic has had a significant impact on Canadian businesses with various programs, benefits and more being made available, along with changes targeted at businesses and their financial needs. Our team is ready to assist you with the latest information, adjustments and opportunities to help your business stay strong and come out ahead. Whether Federal, or specific to Manitoba - our team is well versed in the information that your business needs to know.
Information last updated January 20, 2022.
Please note: The situation and funding, along with eligibility, is continuing to change, so the information here is up to date as noted. This is not a comprehensive update on all government supports. It is meant as an overview with applicable links to the supports most commonly needed for businesses. This includes our interpretation of what the intent is, but it’s not a substitute for doing your own due diligence.
To keep up-to-date with Canada’s COVID-19 Economic Response Plan, visit https://www.canada.ca/en/department-finance/economic-response-plan.html.
Resources & Information
Unsure of the available benefits to you during COVID-19? The Government of Canada has developed interactive questionnaires to sort through what’s available as an individual and as a business.
Individuals: https://covid-benefits.alpha.canada.ca/en/start
Businesses: https://innovation.ised-isde.canada.ca/s/?language=en
With all of the various COVID-19 related benefits, it can be hard to keep up with what you may qualify for. Here is a tool, offered from the Government of Canada’s website that can help you narrow down your search!
It’s as easy as filling in the blanks.
Visit SourceMany businesses have received a CEBA loan during this pandemic. On January 12, 2022, it was announced that “the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022 to December 31, 2023, for all eligible borrowers in good standing.” Source
This gives businesses 1 additional year to repay back the outstanding balance of their loan (minus the portion available to be forgiven).
What happens if the loan cannot be repaid back by December 31, 2023?
Interest will begin, at a 5% per annum rate, on January 1, 2024, with only interest payments required until full principal is due on December 31, 2025.
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Claim periods for both CERS and CEWS has been extended to early May 2022. CEWS’ and CERS’ last period to claim is scheduled to be Period 28: April 10 to May 7, 2022.
Starting on October 24, 2021, the claim period numbers for CERS align with the wage subsidies. This means the first claim period for rent subsidies under the Tourism and Hospitality Recovery Program (THRP) and the Hardest-Hit Businesses Recovery Program (HHBRP) is period 22.
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When looking to claim the CEWS, you have the option to claim the higher amount from one of the following programs: CEWS, Canada Recovery Hiring Program (CRHP), the wage portion of the Tourism and Hospitality Recovery Program (THRP) or the wage portion of the Hardest-Hit Business Recovery Program (HHBRP).
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The Canada Recovery Hiring Program (CRHP) was created to help employers hire the workers they need to recover and grow, with a subsidy of up to 50% of additional eligible salary or wages. This program allows eligible employers to hire new workers, increase workers’ hours, or increase wages at a pace that works for them.
For each claim period, employers can claim either the higher of the CRHP or the wage portion of the Tourism and Hospitality Recovery Program (THRP), or the Hardest-Hit Business Recovery Program (HHBRP).
This program is specifically for business, charities or non-profits who have been affected by the pandemic are either part of the tourism, hospitality, arts, entertainment or recreation sectors, or affected by a qualifying public health restriction.
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The Hardest-Hit Business Recovery Program is for eligible organizations, regardless of their sector, who have faced deep losses due to the pandemic. To qualify, you must have had a 12-month average revenue drop of at least 50% (from March 2020 to February 2021) and you have a claim period drop of at least 50%.
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If your business has had revenue decreases of 50% or more as a result of COVID-19, you may be eligible for a HASCAP loan ranging from $25,000 to $1 million, with a repayment term of up to 10 years. The application deadline has been extended again to March 31, 2022. To apply, you need to contact your primary financial institution. Not sure if your bank is participating? Check out the list of participating financial institutions here.
Manitoba businesses can access funding up to $2,500 per employee, up to a maximum of $75,000 per company, for retraining and upskilling to adapt to the changing needs of the business. Active and permanent, Manitoba-based, registered businesses with a Manitoba Business Number, in good standing with the Manitoba Companies Office, are eligible.
Costs associated with the employee’s training, such as tuition fees, fees charged by an external training provider, mandatory participant fees and course examination fees, are eligible for reimbursement. The business must have already paid for the employee’s course(s) with a start date between April 1, 2021 – August 31, 2022, prior to requesting for reimbursement through the program.
Applications are processed on a first-come, first served basis, and will be open until end of day March 31, 2022, or until funds have been exhausted, whichever occurs first.
Visit Retrain Manitoba’s Frequently Asked Questions (FAQ) page for additional information.
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This program provides assistance to businesses affected by the COVID-19 public health orders released on December 17, 2021. Business who donate surplus food to a charity that feeds the homeless or other Manitobans in need can deduct the cost of the food for income tax purposes.
