Town of Canmore

Financial Supports for Businesses

For the most current information and complete list of programs and supports, please visit the provincial and federal government's support pages. This site has an overview of existing programs that may apply to you and your business.

Provincial Support

Financial Assistance for Individuals and Businesses

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

Small and Medium Enterprise Relaunch Grant Program

The Government of Alberta has committed up to $500 million in funding for the program.

The program provides funding to organizations that saw a 30% revenue reduction in April or May 2020 due to the COVID-19 pandemic.

Update Jan. 14: New businesses that began operations between March 1 and Oct. 31, 2020, and meet the updated 30% threshold can apply for the grant starting Feb. 4, 2021. Do not apply before the portal has been updated on Feb. 4 to ensure your application isn't deemed ineligible.

Application intake is now open.  Application intake will remain open until Mar. 31, 2021.

Tourism Levy Abatement

Hotels and other lodging providers are permitted to keep tourism levy amounts collected between Mar. 1, 2020, and March 31, 2021. Providers that have already remitted amounts collected after Mar. 1, 2020, are entitled to a refund. 

WCB Premier Payment Deferrals

Small, medium, and large private-sector employers can defer WCB premium payments until 2021. 

Federal Support

Click here to find federal support based on your business needs

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 Emergency Business Account Interest-free, partially forgivable loans for small businesses and not-for-profits that have experienced diminished revenues due to COVID-19 and face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes, and wages.

CEBA has been extended to offer access to an interest-free $60,000 loan of which $20,000 will be forgiven if the balance of the loan is repaid by Dec. 31, 2022.  Business owners can apply for support until Mar. 31, 2021 through their banks and credit unions. 
The Canada Emergency Rent Subsidy Provides a direct and easy-to-access rent and mortgage subsidy of up to 65% of eligible expenses to qualifying businesses, charities, and non-profits. The subsidy rates are in effect until Dec. 19, 2020. This support is available directly to tenants.

Lockdown Support

Qualifying organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% of rent support through the Lockdown Support. The combined effect of the rent subsidy and the Lockdown Support is that hard-hit businesses, non-profits, and charities subject to a lockdown can receive rent support of up to 90%. The rent subsidy and the Lockdown Support are available until June 2021
Regional Relief and Recovery Fund Providing over $1.5 billion to help more businesses and organizations in sectors such as manufacturing, technology, tourism, and others that are key to the regions and to local economies. 
Business Credit Availability Program Up to $6.25 million to help cover operating costs during a period where revenues have been temporarily reduced due to the pandemic. 
Work Share Program Extended the maximum duration of the work-share program from 38 weeks to 76 weeks for employers affected by COVID-19. This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers
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

Covering up to 65% of an employee’s wages for qualifying eligible employers, with this subsidy rate in effect until December 19, 2020. The wage subsidy supports you to keep and re-hire your employees and avoid layoffs. CEWS is available until June 2021.

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.  

Relief measures for Indigenous businesses Providing $306.8 million in funding to help small and medium-sized Indigenous businesses. 
Large Employer Emergency Financing Facility Providing bridge financing to Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing, in order to keep their operations going. 
Young Entrepreneurs Providing $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months. 
For Your Employees For current information Employment Insurance, temporary changes to EI as of Sept. 27, 2020, and transitioning from CERB to EI.

Self-Employed Supports

In addition to other supports and programs, you may be eligible for the following:

Canada Recovery Sickness Benefit (CRSB) 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 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, daycares, or care facilities. 
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 For information on funding and programs, visit their website.
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 Travel Alberta is working with the Government of Alberta and partners as we manage stage two of Alberta's Relaunch Strategy. For key resources to support your business, visit their website.

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