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 Wage Subsidy (CEWS) covers 75% of an employee's wages — up to $847 per week.
- The Canada Emergency Rent Subsidy (CERS) provides a rent and mortgage subsidy of up to 65% of eligible expenses to small businesses and not-for-profits. Organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can also receive an additional 25% as part of the lockdown support.
Support for employed and self-employed individuals
- The Canada Recovery Benefit (CRB) supports employed and self‑employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits.
- The Canada Recovery Caregiving Benefit (CRCB) supports employed and self-employed individuals who are unable to work because they must care for their child under 12 years old or a family member who needs supervised care.
- The Canada Recovery Sickness Benefit (CRSB) supports employed and self-employed individuals who are unable to work because they are sick or need to self-isolate due to COVID-19 or have an underlying health condition that puts them at greater risk of getting COVID-19.
Access to credit
- 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).
- Through the Highly Affected Sectors Credit Availability Program (HASCAP), businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
- The Government of Canada provided $306.8 million in funding to help small and medium-sized Indigenous businesses and 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 that offer financing and business support services.
- Through the regional development agencies, an amount from the Canadian Experiences Fund (CEF) is being repurposed to alleviate pressures on Indigenous tourism businesses.
- The Large Employer Emergency Financing Facility (LEEFF) provides bridge financing for large employers that are facing challenges.
Canada's six regional development agencies (RDA) are taking a leading role in implementing measures to help businesses and individuals in communities across the country. RDAs are providing as much flexibility as possible to their current recipients while offering additional support through existing funding.
- The Regional Relief and Recovery Fund (RRRF) provides assistance to businesses and communities that may require additional support to cope with and recover from the pandemic. The funding—over $2 billion in total—goes to the regional development agencies and the Community Futures Network of Canada, and 25% of the funding is earmarked for the struggling tourism sector.
Contact your regional development agency for more information:
- ACOA (Atlantic Canada Opportunities Agency)
For businesses located in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island
- CED (Canada Economic Development for Quebec Regions)
For businesses located in Quebec
- CanNOR (Canadian Northern Economic Development Agency)
For businesses located in the Northwest Territories, Nunavut and Yukon
- FedDev Ontario (Federal Economic Development Agency for Southern Ontario)
For businesses located in Southern Ontario
- FedNor (Federal Economic Development Initiative for Northern Ontario)
For businesses located in Northern Ontario
- WD (Western Economic Diversification Canada)
For businesses located in Alberta, British Columbia, Manitoba and Saskatchewan
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