Economic Resiliency and Recovery Resources

 

Canada Recovery Hiring Program

 

The Canada Recovery Hiring Program is to provide support to eligible employers that continue to experience qualifying declines in revenues relative to before the pandemic. The program would offset a portion of the extra costs employers take on as they reopen, either by increasing wages or hours worked or hiring more staff. This support would only be available for active employees and will be available until November 20, 2021. The aim is to make it as easy as possible for businesses to hire new workers as the economy reopens.

Learn more about CRHP by visiting https://www.canada.ca/en/department-finance/news/2021/06/helping-hard-hit-businesses-hire-more-workers-with-the-canada-recovery-hiring-program.html

 


 

Alberta Jobs Now Program
 
Businesses and non-profits can apply for funding to reduce the cost of hiring and training Albertans for new jobs. Employers can apply for funding to offset the cost of hiring and training unemployed or underemployed Albertans in new or vacant positions. 
 

 
Highly Affected Sectors Credit Availability Program (HASCAP)
 
HASCAP helps the hardest-hit businesses in all sectors with flexible loans of up to $1 million to help manage business continuity expenses. Qualifying businesses can benefit from:
  • Term loans of $25,000 to $1million CAD
  • Low interest rate of 4% per year, with the option to make interest-only payments for the first 12 months
  • Up to 10 years to repay
 
For more information on HASCAP including eligibility and how to apply visit https://hascap.ca/
 


 Stettler Regional Fire Department

The Stettler Regional Fire Department has released a document to assist businesses in calculating their occupancy load. This is a simplified version and does not take into account all the factors a Fire Inspector might use. To learn more click here.


 

Stabilize Program

 

The Stabilize Program provides one-time funding support to rodeos, sports, arts and other venue-based organizations. Funding will enable organizations to maintain their operations to support the live experience sector in Alberta.

The Stabilize Program will:

  • support Alberta-based professional sport teams, non-profit elite amateur sport leagues and teams, rodeos and art performance venues that have a long-standing history and are part of the Alberta cultural and sporting identity
  • enable non-profit organizations to maintain public-use, live experience venues that will provide Albertans with live experiences now and in the future
  • support and leverage Albertans’ investments to non-profit organizations that own and/or operate live experience venues by matching private donations from $250,000 to $1 million dollar for dollar

 

The maximum funding request is up to 25% of eligible expenses. These expenses are based on the 2 most recent board-approved/audited financial statements up to and including March 31, 2020.

 

Eligibility

The funding is for:

  • an established Alberta-based professional team or non-profit elite amateur league or team with an Alberta-based majority ownership (51% or more)
  • non-profit organizations that are the primary organizers of an annual Alberta-based rodeo
  • non-profit art organizations that own and/or operate performing and presenting arts venues

To be eligible, organizations must be registered for a minimum of 3 calendar years (and in good standing) under one of the acts below. The exception to this is for Alberta-based professional or elite amateur sports teams and leagues.

 

For more information on the Stabilize Program click here.

 


 
Canada Recovery Benefit (CRB)
 

The Canada Recovery Benefit (CRB) gives income support to employed and self-employed individuals who are directly affected by COVID-19 and are not entitled to Employment Insurance (EI) benefits. The CRB is administered by the Canada Revenue Agency (CRA).

If you are eligible for the CRB, you can receive $1,000 ($900 after taxes withheld) for a 2-week period.

If your situation continues past 2 weeks, you will need to apply again. You may apply up to a total of 13 eligibility periods (26 weeks) between September 27, 2020 and September 25, 2021.

 

https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit.html


 
Small and Medium Enterprise Relaunch Grant

 

Starting early the week of December 14, job creators who have experienced a 30% revenue loss due to the COVID-19 pandemic will qualify for the program, lowering the threshold from the existing 40% revenue loss requirement. This 30% threshold will be available to impacted businesses retroactive to March.

Alberta businesses affected by the public health orders in effect from November 6, 2020 and later will also be eligible to apply for a second payment through the program.

Job creators that meet the program’s eligibility criteria will be able to apply for 15% of their pre-COVID-19 monthly revenue up to:

  • a maximum of $5,000 in funding for their first payment, and
  • a maximum of $15,000 for their second payment

Application intake for the second payment is not currently available but will open soon. More information, including updated eligibility criteria and how to apply for the second payment, will be outlined at https://www.alberta.ca/sme-relaunch-grant.aspx when finalized.


 
Community Futures East Parkland

Regional Relief and Recovery Fund (RRRF)

The Government of Canada and Community Futures organizations (CFs) understand the difficulties the COVID-19 pandemic has caused the small business community throughout the West. As a result, the Government of Canada has made funds available to the CFs to provide support and assistance to SMEs through the rural stream of the Regional Relief and Recovery Fund (RRRF).

Small business owners impacted as a result of the COVID-19 pandemic can apply for loans up to $40,000 through the Regional Relief and Recovery Fund (RRRF).

The Regional Relief and Recovery Fund provides funding to support businesses that have not been approved for supports through the Canada Emergency Business Account (CEBA) or the Emergency Loan Program delivered through Aboriginal Financial Institutions.

Please click the below link to access our secure online Loan Application Portal for the Regional Relief and Recovery Fund (RRRF) Application.

Once you follow the link you will find a button to 'Sign Up' for the Loan Application Portal. Enter your name, email address and desired password. You will then receive an email asking you to Verify your email address (make sure to check your Junk Folder or Spam Filtering if the email doesn't arrive in your inbox).

After you click the Verify button in the email, you will be able to login to the Loan Application Portal and complete your application.

 

Apply Now  

General Details:

• Maximum loan of $40,000;
• 0% interest until December 31, 2022;
• No principal payments until December 31, 2022;
• Principal repayments can be voluntarily made at any time without penalty;
• 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022;
• If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a term loan effective January 1, 2023; and,
• The full balance must be repaid no later than December 31, 2025.


Eligible Uses for Loan Funding:

The funds from this loan shall only be used by the Borrower to pay non-deferrable operating expenses of the Borrower including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.  Note that funds from this loan cannot be used to pay expenses already supported through the Canada Emergency Wage Subsidy or the Canada Emergency Commercial Rent Assistance.

Eligibility of Businesses:

• As per Terms and Conditions of the Community Futures Program, SMEs are defined as having less than 500 employees and annual sales revenue of less than $20 million, and produce goods and services for the market economy, regardless of their business structure (e.g. sole proprietorships, social enterprises, cooperatives, etc.);
• The applicant has not been approved for other federal supports such as the Canada Emergency Business Account (CEBA)
• The SME must have been viable as of March 1, 2020;
• Established before March 1, 2020; and,
• Must have been adversely impacted because of the COVID-19 pandemic.

Please note: Once you submit your application, you will receive an email notification that is confirmation we have received your application and are working on your request. Rest assured a CF representative will contact you as soon as possible. Thank you for your cooperation and understanding.

 

Copyright © 2021 Stettler Regional Board of Trade and Community Development

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