The Government of Canada is taking immediate, significant and decisive action to support Canadians and businesses facing hardship as a result of the global COVID-19 outbreak.
Canada.ca/coronavirus is your guide to the federal government response. Here you will find updates on the current situation, financial & economic support for individuals and businesses. Please see below some of the support announced by the government to support Canadians:
The Canada Emergency Response Benefit (CERB) gives financial support to employed and self-employed Canadians who are directly affected by COVID-19.
If you are eligible, you can receive $2,000 for a 4-week period (the same as $500 a week).
If your situation continues past 4 weeks, you will need to apply for the CERB again. You may re-apply for up to a total of 16 weeks.
The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students and recent post-secondary and high school graduates who are unable to find work due to COVID-19.
This benefit is for students who do not qualify for the Canada Emergency Response Benefit (CERB) or Employment Insurance (EI).
The Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.
To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019.
Business owners can apply for support from the Canada Emergency Business Account through their banks and credit unions.
The federal government reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19.
It is expected that CECRA will be operational by mid-May, and further details will be announced soon.
We are providing nearly $962 million through the Regional Relief and Recovery Fund (RRRF) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access existing support measures.
Please go to Canada.ca/coronavirus for the latest information to ger answers to you COVID-19 questions.