With several Covid type loans, programs and benefits out there to help businesses through these difficult times, which one suits your needs the best? This program from the Government of British Columbia offers grants of $10,000 to $30,000 to small and medium sized B.C. businesses impacted by COVID-19. An additional $5,000 to $15,000 grant is available to eligible tourism-related businesses.
The program runs until August 31, 2021 or until the funds are fully expended, whichever comes first.
Eligibility requirements include:
- The majority share of the business is owned by one or more B.C. residents
- The business has been operating in B.C. for at least 18 months as of your date of application to this grant program
- The business’s sole or primary operations are located and conducted in B.C.
– The business is registered in B.C.
– The business is current and pays taxes in B.C.
– The business is currently operating (Businesses that are seasonal or temporarily closed are also eligible)
- The business employs up to 149 people in B.C. for at least four months of the calendar year
– This includes businesses that had employees or contracted staff prior to February 1, 2020
– For businesses that do not have staff, please tell us in your application how the grant funding will support your recovery and benefit your community
- The business had positive cash flow for the last financial statement, prior to February 1, 2020
- The business had at least a 30% revenue loss from March 2020 to present when compared to the same one-month period in 2019
- The business’s ownership has not prepared the business for closure, dissolution or for sale following February 1, 2020
*Seasonal businesses should provide information relevant to their specific business cycle.
To learn more about how funds can be spent, eligibility requirements, to start your application, how the program works and to review all necessary documents, please visit the Government of British Columbia’s website.