Business Development Bank of Canada (BDC) has resources available including
- Small Business Loan: Up to $100,000 can be obtained online in as little 48hours from time of approval.
- Working capital loan: Get extra funds to bridge cash flow gaps and support everyday operations.
- Purchase Order Financing: Increase your cash flow to fulfill domestic or international orders with very flexible terms.
- BDC’s Advisory Services experts are offering tools and support to review your financial management and operations.
- Business Development Bank of Canada loans and advice: https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19
BC Hydro: The COVID-19 Customer Assistance Program provides customers the option to defer bill payments or arrange for flexible payment plans with no penalty. Customers are encouraged to call BC Hydro’s customer team at 1 800 BCHYDRO (1 800 224 9376) to discuss options
CMHC is working to address mortgage payment difficulties. They’ve said on Twitter that they are collaborating with lenders to allow payment deferral of up to six months
In collaboration with Small Business BC, the Small Business Branch has prepared joint information on Business Continuity & COVID-19 Small Business Resources, which provides a checklist of considerations that small businesses can use to help minimize the impacts of COVID-19 to their employees and operations
Small Business BC is also maintaining a webpage with links to current information and relevant articles on COVID-19 considerations for business. SBBC advisors are ready to answer entrepreneurs’ questions about implementing or updating business continuity plans, accessing the Talk to an Expert program, or finding online training to help them take the next step. They can be reached at1-800-667-2272 or askus@smallbusinessbc.ca
Telus is waiving certain fees until April 30th and providing flexible payment options
Export Development Canada (EDC) – in partnership with the federal government and Canadian banks, EDC will ensure customers impacted by COVID-19 have access to credit.
Operational/Staffing Support
- Employment and Social Development Canada: Several measures are available to assist employees who have been laid off or are unable to work due to quarantine. This includes waiving the one-week waiting period for EI sickness benefits, and priority application processing for related claims.
- Changes to Employment Insurance to make it more accessible:
General Information
- The Federal Government has created a COVID-19 resource page for Canadian businesses: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html
- The Canadian Chamber of Commerce has pandemic preparedness resources and templates.
- The BC government does daily media updates every day at 3 pm (T-F), which are streamed live by major media.
B.C. government’s COVID-19 Paid Sick-Leave Reimbursement Program
In order to apply for the B.C. government’s COVID-19 Paid Sick-Leave Reimbursement Program, you need to sign up for WorkSafeBC’s online services.
Through this program, which will be available starting June 15, employers can apply to be reimbursed for up to three days of wages paid to workers for COVID-19-related sick leave.
How to apply:
In order to apply for the B.C. government’s COVID-19 Sick-Leave Reimbursement Program, employers must:
- Be registered for WorkSafeBC insurance coverage
- Have signed up for WorkSafeBC’s online services
- Not have an existing paid sick-leave program
The program application will be available on WorkSafeBC’s online-services portal starting June 15. Visit worksafebc.com to learn more.
In addition to hosting the sick-leave reimbursement application, WorkSafeBC’s online-services portal for employers offers you an easy and convenient way to report payroll, pay premiums, and access additional tools.