COVID-19Guidance and Resources for Business
Here’s What Your Chamber is Doing
- We’re assembling and streamlining business-related information and resources as they become available. Get the latest information on the resources, programs and relief strategies being put into place by the federal, provincial and municipal governments at www.tbchamber.ca/covid19.
- We’re gathering information about the unique needs of our region’s businesses. On April 27 we launched the first of six monthly surveys which will collect essential data for ongoing advocacy efforts and the development of recovery programs tailored to Thunder Bay’s needs.
- We’re in discussions with our Federal, Provincial and municipal governments to explore measures which will reduce business risk and stimulate business recovery.
- We’re reaching out to our Members. Our team is contacting Members directly to hear how we can help you and share the latest information about our advocacy work and the government supports available.
- We’re keeping you connected. Follow us on Facebook for updates on business resources and upbeat news about what Members are doing to help sustain our community during this difficult time.
NEW Directory Category:
COVID19 Safety Supplies & Services
If you’re looking for PPE, hand sanitizer, protective barriers or directional materials to help steer your customers and staff to safe habits, visit our Member Directory’s new #COVID19 category and start with a fellow Chamber Member! Check it out now.
Latest Update from the Chamber:
Commercial Rent Assistance application forms now available; eligibility expanded
Application documents and updated criteria for Canada Emergency Commercial Rent Assistance (CECRA) for small businesses are now available, and that the program will be opened for applications beginning on May 25.
The program will provide forgivable loans to eligible commercial property owners, who in turn will give a rent reduction of at least 75 per cent for April and May (retroactive), and June, to their small business tenants. Program eligibility has been expanded to include properties with and without mortgages.
Applications will be accepted through the Canada Mortgage and Housing Corporation website beginning on May 25, and application documents can be accessed now.
Overview of CECRA
- CECRA will provide forgivable loans to qualifying commercial property owners, whether they have a mortgage on their property or not. The loans will cover 50 per cent of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.
- The loans will be forgiven if the qualifying property owner agrees to reduce the small business tenants’ rent by at least 75 per cent under a rent reduction agreement, which will include a term not to evict the tenant while the agreement is in place. The small business tenant would cover the remainder, up to 25 per cent of the rent.
- Impacted small business tenants are businesses that are paying less than $50,000 per month in gross rent in a given location, with annual revenues of less than $20 million (at the ultimate parent level), and who have experienced at least a 70 per cent drop in pre-COVID-19 revenues.
Good news! Canada Emergency Commercial Rent Assistance application forms now available and eligibility has been expanded.- The program provides forgivable loans to property owners that give a 75% rent reduction to their eligible small business tenants.- Eligibility expanded to include properties with or without a mortgage- Impacted small businesses tenants are those that pay less than $50,000/month in gross rent and have experienced at least a 70% drop in revenues due to COVID-19More details and links to the application forms at www.tbchamber.ca/covid19
Posted by Thunder Bay Chamber of Commerce on Thursday, May 21, 2020
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Upcoming COVID19 Events for Business
Other Webinar Recordings:
- Townhall with the Northern Ontario Federal Liberal Caucus – May 19
- Ensuring the recovery and resilience of Canada’s food service sector: Canadian Chamber – May 12
- Clarifying Government Relief Programs: Ontario Chamber – May 7
- Meet the Northern Ministers: Northern Chambers – May 6
- COVID-19: How to get through the crisis with an online strategy: BDC – April 30
- Information Security and Data Privacy in the age of COVID-19: Ontario Chamber of Commerce – April 28
- How Big Data is Being Used to Combat COVID-19: Ontario Chamber of Commerce – April 24
- Using distance to generate new ideas for your business: UpHouse/Chambers Plan – April 23
- Mitigating Your Cybersecurity Risk During COVID-19: Ontario Chamber of Commerce – April 17
- Understanding and Accessing the BCAP and Capital Loans During COVID-19: Ontario Chamber of Commerce – April 14
- Meet the Minister with the Hon. Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction: Timmins Chamber – April 9
- Making Sense of Federal & Provincial Business Support Programs: Ontario Chamber of Commerce, MNP – April 3
Resources for Business
Visit our Federal supports page for information on Federal supports including:
- Innovation Canada’s Interactive Business Benefits Finder
- Canada Emergency Wage Subsidy
- Canada Emergency Response Benefit (CERB)
- Canada Emergency Business Account
- Canada Emergency Commercial Rent Assistance
- Access to Capital
- Regional Relief & Recovery Fund (FedNor)
Visit the Canadian Business Resilience Network for other Federal resources.
Visit our Provincial Supports page for information on measures including:
- Ontario’s List of Essential Services
- Employer Health Tax
- Regional Opportunities Investment Tax Credit
- $6 Billion in Tax Deferrals
- Payment Deferral on WSIB
- Electricity Relief
- Supply Opportunities
Visit our Municipal Supports page for information on measures including:
- deferral of the May 6th interim tax levy installment to July 8th
- waiving the water penalty for water bills due April 14, May 15 & June 15
- extending payment terms for accounts receivable invoices from 30 days to 90 days
- waiving business-related permit and license fees for 3 months and reducing sign permit fees by 25%.
Visit the Canadian Business Resilience Network for info to contain the spread of COVID-19 and prevent a second wave.
Useful Info from Workplace Safety & Prevention Services:
Visit the Canadian Business Resilience Network and position your business to help drive economic recovery when the crisis passes.
Sign your business up today and browse for information on businesses open during the COVID-19 crisis!
Chamber Members receive preferential pricing with discounts ranging from 25%-45% on Purolator Express and Purolator Ground suite of courier services. Learn more/ sign up.
Emergency Loans up to $20,000
- interest-free, with no payments required, until October 2020
- loan terms offered for up to two years
- interest to be charged at prime rate beginning in October.
Visit www.thunderbayventures.com for more information and to apply.