Announced in December of 2020, the Ontario Small Business Grant is now open for applications. The grant provides between $10,000 and $20,000 to eligible small businesses that were required to reduce their operations due to the Provincial Shutdown that began on December 26, 2020. Eligible businesses that show a minimum 20% revenue decline when comparing April 2019 to April 2020 revenues will receive “dollar for dollar” funding based on their revenue decline, to a maximum of $20,000, to help cover the expected revenue decline as a result of the shutdown. The grant can be used for whatever “makes the most sense” for the individual business. Following a successful application, a business can expect payment within ten business days. The application deadline for the grant is March 31, 2021.
To be eligible, an Ontario business must:
To complete the application, businesses must provide the following:
* Applications may be selected for audit and additional information or supporting documentation may be required to prove eligibility.
A full user application guide, provided by the Government of Ontario, can be found here. Determining enterprise status, total employee count across affiliated enterprises, and other eligibility requirements can be complex, if you require assistance or have any questions related to the Ontario Small Business Grant, please contact your Bateman MacKay Business Advisor.
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