Feds offer additional $34M to help northern businesses during pandemic
Small and medium-sized businesses can apply through CanNor
The federal government says it's providing an additional $34.3 million for small and medium-sized businesses in the three territories that have been affected by COVID-19.
In a news release Wednesday, the Canadian Northern Economic Development Agency (CanNor) says the funding will help businesses and organizations including in the tourism and manufacturing sectors among others.
The money represents the territories' portion of a nearly $1-billion Regional Relief and Recovery Fund announced last month by Ottawa. Businesses and organizations in Yukon, N.W.T. and Nunavut can apply for the funding through CanNor.
This funding will help with short-term relief on operational costs, and is a non-repayable grant for a maximum period of four months, retroactive to April 1, 2020. Businesses can receive anywhere between $2,500 to $100,000, according to the government's website.
Priority will be given to businesses with less than 20 employees, says the government.
- Businesses can find out their eligibility and apply here
There are special instructions for Yukon businesses, which only need to apply once for both CanNor's and the Yukon government's Yukon Business Relief Program.
In addition to $15M announced in April
The funding is in addition to $15 million in "non-repayable support" previously announced for businesses in the territories that have been affected by COVID-19, but don't qualify for the federal financial support already made available.
"Now more than ever, CanNor is working closely with territorial governments and Indigenous organizations to ensure COVID-19 relief efforts are complementary, and that our entrepreneurs are receiving the support they need," reads a quote attributed to the Parliamentary Secretary to the Minister of Economic Development and Official Languages Larry Bagnell in the release.
"No matter how wide we extend the safety net, businesses across Canada continue to slip through the cracks. Many entrepreneurs are still anxious about whether they will get the help they need," wrote the Minister of Economic Development and Official Languages and Minister responsible for CanNor Mélanie Joly in the release.
"The ... fund will fill in some of the gaps."