COVID business support / recovery

Tourism Relief Fund

Amount:

No Fixed Amount

Type of Program:

Grant & Loan

Description:

With a budget of $500 million over two years (ending March 31, 2023), including $50 million specifically dedicated to Indigenous tourism initiatives and $15 million for national initiatives, The Tourism Relief Fund supports tourism businesses and organizations to adapt their operations to meet public health requirements while investing in products and services to facilitate their future growth.

Comments on Funding:

Contributions to businesses will be either:

1
non-repayable contributions up to $100,000 for up to 50% of eligible costs;
2
fully repayable contributions up to $500,000 for up to 75% of eligible costs

Not-for-profit organizations and Indigenous entities (not generating profits) will be eligible for non-repayable contributions.

Project contribution amounts would not exceed $500,000. The actual contribution amount will be based on the minimum amount required to carry out the project.

A business cannot receive a combination of a non-repayable and a repayable contribution for the same project.

When It Ends:

Ongoing

Deadline:

March 31, 2023

Eligibility:

Applicants must:

be tourism entities that cater mainly to visitors, such as:

businesses;
not-for-profit organizations, such as tourism associations;
municipalities, and
band councils or other Indigenous organizations and cooperatives.

meet at least one of the following criteria:

be a key supplier or operator in the visitor experience;
be part of a defined tourism cluster or a tourism dependent community, including supporting downtown cores; or
provide an anchor product or service in a tourism destination.

Application Steps:

Applicants must consult the applicant guide

Applicants must fill out the Tourism Relief Fund application form online

Applicants must send the form through the application for financial assistance page or by mail to the ACOA regional office in your province.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership (names and percentage of ownership),
2
financial statements (current and last two years),
3
research and development (r&d) project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licenses,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting / incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: research and development (r&d) project plan or detailed project description, including milestones, costs, financing, key partnerships established and evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and licenses,
8
other relevant documents (specify).

Other Things to Note:

1
The TRF will provide $500M investment over two years (2021-2022 to 2022-2023) across Canada to support tourism businesses/organizations through investments to improve their offerings and adapt to public health measures for the short and long term.
2
Date modified: 2022-09-23.

Program Contact:

Tourism Relief Fund

APPLICATION FOR FINANCIAL ASSISTANCE TOURISM RELIEF FUND

TOURISM RELIEF FUND APPLICANT GUIDE

Jobs and Growth Fund (JGF)

Amount:

No Fixed Amount

Type of Program:

Grants & Loan

Description:

The Jobs and Growth Fund (JGF) provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.

Comments on Funding:

Funding will take the form of:

interest-free repayable contributions for up to 50% of eligible costs for eligible businesses;
non-repayable contributions for up to 90% of eligible costs for not-for profit organizations.
Indigenous-led organizations and/or businesses are strongly encouraged to apply.

Indigenous-led organizations and/or businesses are strongly encouraged to apply.
Under the initiative, RDAs may contribute up to 100% of eligible project costs for projects with Indigenous clients.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must be:

businesses, including co-operatives,
not-for-profit organizations and community economic development partners.

Among the program's eligible activities are activities that foster an inclusive recovery, including those that support businesses owned or majority-led by under-represented groups, such as Indigenous peoples, members of racialized communities, women, youth, LGBTQ2, persons with disabilities, newcomers to Canada, and members of official language minority communities.

Application Steps:

Applicant must consult the applicant guide

Applicant must fill out the Jobs and Growth Fund application form online

Applicant must send the form through the application for financial assistance page or by mail to the ACOA regional office in your province.

Documentation Needed:

For-profit applicants must submit a completed application form and the following supporting documents:

1
incorporation documents and information on ownership (names and percentage of ownership),
2
financial statements (current and last two years),
3
research and development (r&d) project plan, business plan and/or marketing plan,
4
supplier quotes,
5
copies of relevant permits and licences,
6
other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

1
constituting / incorporating documents and list of directors/members of the board,
2
financial statements (current and last fiscal year),
3
description and mandate of the applicant, including the management and qualifications of key personnel,
4
HST rebate information (I.E. rebate rate),
5
one of the following two items is required: research and development (r&d) project plan or detailed project description, including milestones, costs, financing, key partnerships established and evidence of support from the community,
6
supplier quotes,
7
copies of relevant permits and license's,
8
other relevant documents (specify).

Other Things to Note:

1
The JGF will provide $700 million over three years (2021-2022 to 2023-2024) across Canada to support business financing. This support for regional recovery and stimulus will position local economies for long-term growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
2
Applications will be accepted on a continuous intake basis until such time as the funding is fully allocated.
3
The fund, delivered by Canada's regional development agencies (RDAs), provides $700 million nationally over three years, which includes up to $70 million dedicated to businesses created after January 2020 that meet eligibility criteria.
4
In Atlantic Canada, the Atlantic Canada Opportunities Agency (ACOA) is investing $70 million to help job creators and the organizations that support them to future-proof their businesses, build resiliency and prepare for growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs in every corner of the country.
5
Date modified: 2022-03-15.

Program Contact:

Jobs and Growth Fund

APPLICATION FOR FINANCIAL ASSISTANCE JOBS AND GROWTH FUND

JOBS AND GROWTH FUND APPLICANT GUIDE

Emergency Working Capital Financing

Amount:

$100,000.00

Type of Program:

Loan

Description:

The Emergency Working Capital Financing provides emergency working capital financing to assist PEI’s small business during this unprecedented economic disruption to business, caused by the Covid-19 pandemic. This loan program is to assist qualifying companies maintain normal business operations during these difficult times.

Comments on Funding:

Funding is up to $100,000 with a fixed interest rate of 4% per annum to be used to assist with fixed operating costs (including payroll, rent, utilities etc) with principal & interest payments deferred for a minimum of 12 months.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be an existing small businesses (startups not eligible) located and operating in the Province of PEI, and have been generating revenue on PEI,
be registered to conduct business within the Province of PEI,
have a satisfactory credit rating,
not have any defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Application Steps:

must submit an application and supporting documentation to Finance PEI,

will be issued a Letter of Offer outlining the complete terms and conditions of the loan, if successful.

Documentation Needed:

Applicants must submit:

1
financial statements for the most recent year end,
2
interim financial statements for the current year to date,
3
detailed listing of what the loan proceeds will be used for and when funding will be needed,
4
statement of personal financial affairs (personal net worth statement) from all applicable shareholders,
5
eligible working capital expense worksheet.

Ongoing financial reporting will be required.

Program Contact:

Emergency Working Capital Financing

COVID-19 Wage Rebate for Impacted Industries

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The COVID-19 Wage Rebate for Impacted Industries provides a 25 per cent wage rebate on payroll for businesses of impacted industries, such as full-service restaurants and fitness centers, for the period of January 19 to 31, 2022.

Comments on Funding:

The funfing is a wage rebate calculated at 25 per cent of payroll costs to a maximum of $25/hour for PEI employees, including salary/wages and MERC’s.

When It Ends:

Ongoing

Deadline:

March 21, 2022

Eligibility:

Applicants must:

be businesses that closed to in-person services restricted by the enhanced public health measures introduced on January 18, 2022,
be operating in PEI,
be physically located on PEI,
be operated by a PEI franchiser, if a franchise.

Application Steps:

submit a completed online application,

make a Request for Payment, if the application was determined to be eligible.

Documentation Needed:

Applicants must submit:

1
appropriate payroll documentation to validate payroll costs,
2
the Active Canada Revenue Agency (CRA) Business Number,
3
the estimated number of employees the business will be claiming,
4
a description of business operations,
5
a description of how the enhanced public health measures impacted the business,
6
a monitored email address and contact information,
7
the completed online application.

Program Contact:

COVID-19 Wage Rebate for Impacted Industries

Festival and Events Stability Program

Amount:

$35,000.00

Type of Program:

Grants

Description:

The new Festival and Events Stability Program (FESP) will provide financial assistance to festival and event organizers to help offset costs associated with the need to comply with COVID-19 health and safety protocols (e.g., cleaning, security, staff, fencing, hand wash stations, insurance and/or infrastructure needed to provide a safe and enjoyable event such as chairs, tables, tents etc.). Funding is available to festival and event organizers, including both for-profit and not-for-profit entities.

Comments on Funding:

Funding is up to 20% of total event expenses and to a maximum of $35,000. Claims must be supported by paid invoice. The minimum contribution is $500.

When It Ends:

Ongoing

Deadline:

March 1, 2022

Eligibility:

Applicants must:

for-profit or not-for-profit entities,
be in good standing with the Government of Prince Edward Island,
organize an event between July 20, 2021 and March 31, 2022 that:

secures all necessary license(s) and approval(s) including approval from the Chief Public Health Office,
may be held on a single day or multiple days,
must be held on Prince Edward Island,

Application Steps:

Applicants must submit the application to one of the groups listed below based on the type of festival or event being hosted:

Cultural Development

Evangeline Tourism Association / L’Association Touristique De La Region Évangeline

PEI Association of Exhibitions

Sport PEI

Tourism Industry Association of PEI

Tourism PEI

Documentation Needed:

Applicants must submit:

1
the application form,
2
a one-page overview with a detailed budget that shows total budget and additional costs incurred as a result of Covid-19, including the following information: name of the activity, date(s), location, legal name of the organization, a list of board members for not-for-profit organizations, a list of owners for for-profit organizations, primary contact including title, phone number and email address, expected number of participants / audience size, description of activity (i.e. overview of activities, schedule, target market, on-island and/or off-island participants and/or audience) and the funding amount requested.

Other Things to Note:

Once all funding has been allocated, intake will stop and the program will end.

Program Contact:

Festival and Events Stability Program