NEW ASSISTANCE PROGRAMS ANNOUNCED
*NEW* Province of Manitoba Updates Announced today: the Manitoba Gap Protection Program (MGPP) will be available to struggling businesses that do not qualify for the various federal government programs. The province will advance each eligible business the non-interest bearing forgivable MGPP loan of $6,000, for a total of up to $120 million. The loan will be forgiven on Dec. 31, 2020, if the recipient attests at that time the business has not received any major non-repayable COVID-19 federal supports such as the Canada Emergency Wage Subsidy and the Canada Emergency Business Account, as well as sector-specific grant federal programs specifically developed in response to the pandemic. If the applicant has received benefits under a federal COVID program, then the loan will be added to the recipient’s 2020 tax bill. To be eligible for the MGPP funding, a business must:
have been operational on March 20, 2020, the date the Manitoba government declared a province wide state of emergency under The Emergency Measures Act because of COVID-19;
have temporarily ceased or curtailed operations as a result of a COVID-19 public health order and
have been harmed by the health order; be registered and in good standing with the Manitoba Business and Corporate Registry;
have not qualified for federal government COVID-19 grant support; and
have an email address and a bank account.
*NEW* Government of Canada Program Updates The Government of Canada has introduce the Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses that, will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership with provincial and territorial governments who are responsible for property owner-tenant relationships. While more details are NOT currently available, you can view the program under the "Support for Businesses" title at the link below. The Canadian Emergency Wage Subsidy (CEWS) is preparing to open for intake on Monday, April 27th, 2020. The subsidy generally covers 75% of an employee's wages – up to $847 per week - for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May. The program will be in place for a 12-week period, from March 15 to June 6, 2020. Employers who are eligible for the CEWS are entitled to receive a 100% refund for certain employer contributions to Employment Insurance and the Canada Pension Plan.