More COVID recovery money coming for Alberta small businesses
By Government of Alberta
By Government of Alberta
The Alberta government is offering small businesses affected by the most recent public health orders another payment of up to $10,000 from the Small and Medium Enterprise Relaunch Grant (SMERG).
The updated SMERG program will replace the previously announced Enhanced COVID-19 Business Benefit and will provide funding to more businesses facing increased public health measures as announced on April 6.
Businesses will be eligible to apply for another payment in the second half of April. This additional payment will also be available to new businesses that began operating between March 1, 2020 and March 31, 2021.
The payment is calculated as 15% of the eligible organization’s pre-curtailed monthly revenue to a maximum of $10,000.
“Small businesses have borne the brunt of pandemic restrictions, and have made real sacrifices to protect our health-care system and save lives. That’s why Alberta’s government has already committed over $500 million in support through the Small and Medium Enterprise Relaunch Grant, and it’s why we are expanding that support today,” said Alberta Premier Jason Kenney, on April 13.
The relaunch grant program has already had nearly 50,000 applicants, with total program costs of more than $500 million. With this latest expansion, small businesses that have qualified for all three rounds will have received as much as $30,000.
The Small and Medium Enterprise Relaunch Grant (SMERG) offers financial assistance to Alberta businesses, cooperatives and non-profit organizations with fewer than 500 employees that have faced restrictions or closures due to COVID-related public health orders, and have experienced revenue losses of at least 30 per cent.
Funds can be used to:
- Cover costs of items that help prevent the spread of COVID-19, such as personal protective equipment and cleaning supplies.
- Pay rent, employee wages or replace inventory.
- Help businesses expand their online presence or e-commerce opportunities so that they can continue to serve customers.
The program is scheduled to be open for applications until May 31 and is capped at $350 million. Applications received before the previous program closure on March 31 will continue to be processed.
Companies that did not apply under the first run of SMERG will not be able to apply for the initial payments – only the new $10,000 payment. Money received under SMERG does not need to be repaid.
For more information on the grant, click here.