Financial resources for tourism businesses: COVID-19
Resources for Canadian businesses
Managing your business during the COVID-19 outbreak
Find out about financial supports available to tourism businesses during the COVID-19 pandemic
- The Canada Emergency Business Account (CEBA) provides interest-free loans of $40,000 to small businesses and not-for-profits.
- The Business Credit Availability Program (BCAP) provides additional liquidity support through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).
- The Canada Emergency Wage Subsidy (CEWS) covers 75% of an employee's wages — up to $847 per week.
- The Canada Emergency Response Benefit (CERB) is a taxable benefit that provides $2,000 every four weeks for up to four months to workers.
- Canada Emergency Commercial Rent Assistance (CERCA) offers forgivable loans to eligible commercial property owners so that they can reduce the rent owed by their impacted small business tenants.
- The Regional Relief and Recovery Fund (RRRF) provides targeted assistance delivered by regional development agencies.
- The COVID-19 Emergency Support Fund provides $500 million for cultural, heritage and sport organizations to help affected organizations so they can continue to support artists and athletes.
- The Northern Business Relief Fund (NBRF) provides short term support, in the form of a non-repayable grant, for ongoing operational costs to small- and medium-sized territorial businesses impacted by economic disruptions due to COVID-19.
- The Government of Canada provided $306.8 million in funding to help small- and medium-sized Indigenous businesses and to support Aboriginal Financial Institutions that offer financing to these businesses. This relief measure for indigenous businesses will allow for short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services.
- Through the regional development agencies, funds from the Canadian Experiences Fund (CEF) are being re-purposed to alleviate pressures on Indigenous tourism businesses.
The Large Employer Emergency Financing Facility (LEEFF) will be bridging financing for large employers who are facing challenges.
- Deferral of all payments of GST/HST and import duties for all businesses, including individuals who are self-employed, until June 30.
- Canada Revenue Agency will defer tax payment obligations until August 31, 2020, to help businesses with cash flow.
- Parks Canada will work with tourism operators in national parks, historic sites, and marine conservation areas to defer payments on commercial leases and licences of occupation without interest until September 1, 2020.
- A deferral of three months on all payments due to the government, as of April 1, 2020. This moratorium, applied by the RDAs, will defer payments and related interest charges to relieve some of the pressure businesses may be facing. RDAs are working with businesses that receive funding to formalize these deferrals into an amended repayment schedule.
Canada's six regional development agencies (RDA) are taking a leading role in implementing measures to help businesses and individuals within communities across the country. RDAs are providing as much flexibility as possible with their existing recipients while offering additional support through existing funding.
- Date modified: