Town of Canmore

Financial Supports for Businesses

Provincial Support

Financial Assistance for Individuals and Businesses

The Province has several measures in place to provide financial relief for Albertans.

Federal Support

Canada Economic Recovery Plan The Government of Canada is taking immediate, significant, and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
Canada Rent Relief Program Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. It offers unsecured, forgivable loans to eligible commercial property owners.

The deadline to opt-in is October 30, 2020.

Canada Emergency Business Account (CEBA) Access an interest-free $40,000 loan to cover operating costs during a period when revenues have been reduced due to the pandemic.

CEBA has been extended to October 31, 2020, making the program accessible longer to Canadians. If you have already applied for CEBA and have questions, please contact the CEBA Call Centre at 1.888.324.4201.

Regional Relief and Recovery Fund Funding requests over $40,000 with interest-free repayable funding of up to $1,000,000.
Business Credit Availability Program Businesses with a viable business model whose access to funding would otherwise be limited can seek direct lending and other types of financial support.  
Work Share Program Work-Sharing is an adjustment program designed to help employers and employees avoid layoffs when there is a temporary reduction in the normal level of business activity that is beyond the control of the employer.
Canada Emergency Response Benefit (CERB) to Employment Insurance (EI)

The Government will be transitioning to a simplified Employment Insurance (EI) program, effective  Sept. 27, 2020, to provide income support to those who remain unable to work and are eligible and introducing a new suite of temporary and taxable recovery benefits to further support workers. While the Government prepares for this transition, and to ensure support continues for Canadians whose employment has been impacted by the pandemic, the CERB will be extended by an additional four weeks, providing a new maximum of up to 28 weeks of benefits.

Summary of temporary measures to help Canadians access EI benefits more easily

  • 120 hours of work required to qualify
  • Minimum benefit rate of $400 per week
  • At least 26 weeks of regular benefits
Canada Emergency Wage Subsidy (CEWS)

Eligible employers who had any drop in revenue can now qualify for the wage subsidy, starting with the claim periods that began July 5.

Find out more about who can apply and how

Loan Guarantee for Small and Medium-Sized Enterprises

This support is available until June 2021.

Co-Lending Program for Small and Medium Sized Enterprises

Support available until June 2021. 

Mid-Market Financing Program

Support available until June 2021. 

Supporting Black-led business organizations through the National Ecosystem Fund, AND Black Entrepreneurship Loan Fund

This National Ecosystem funding will help Black business owners and entrepreneurs access funding and capital, mentorship, financial planning services, and business training.  The Loan will provide loans of between $25,000 and $250,000.

Women Entrepreneurs

New funding available through Women Entrepreneurship Strategy. 

Relief measures for Indigenous businesses

Providing $306.8 million in funding to help small and medium-sized Indigenous businesses.  

Self-Employed Supports

Canada Recovery Benefit (CRB)  The CRB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance (EI).
Canada Recovery Sickness Benefit (CRSB) The CRSH provides  $500 per week for up to two weeks, for workers who cannot work because they are sick or must self-isolate for reasons related to COVID-19. Effective from Sept. 27, for one year.  
Canada Recovery Caregiving Benefit (CRCB) The CRCB provides $500 per week, for up to 26 weeks per household to eligible workers who cannot work because they must provide care to children or family members due to the closure of schools, day cares, or care facilities. Effective from Sept. 27, for one year.  
Access to Credit

Business Credit Availability Program to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses.

Wage Subsidy

Eligible small employers can receive a temporary wage subsidy for a period of three months. 

Other Supports

Canada Council for the Arts The Micro Innovation Grant supports artists, groups, or organizations to adapt to digital dissemination of their arts.  
WCB premium payment deferral Defer WCB payments until 2021 
WCB Refund or Credit Rebate/credit 2020 WCB premiums 
Credit Counselling Society Free Credit Counselling, Budgeting Help & Debt Consolidation Options.
BDC BDC is offering new measures include working capital, payment postponements, and rate reductions to support Canadian businesses
Travel Alberta Cooperative Investment Program Assists tourism operators and regions across Alberta to restart consumer marketing activities and aid in the development of traveler products, experiences, and packaging in a COVID-19 travel environment.

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