UPDATE Small and Medium Enterprise Relaunch Grant

In response to the recent temporary health measures, the Government of Alberta has reduced the eligibility requirement for the Small and Medium Enterprise Relaunch Grant and will offer additional support through a second payment.

The second payment will be available to businesses operating in areas on the provincial watch list where new health restrictions have been implemented.

Additionally, job creators that have experienced a 40% revenue loss due to the COVID-19 pandemic will qualify for the grant, lowering the threshold from the existing 50% revenue loss requirement. This 40% threshold will be available to impacted businesses retroactive to March, 2020 and applications will be open until March 31, 2021.

Job creators that meet the program’s eligibility criteria can apply for 15% of their pre-COVID-19 monthly revenue, up to a maximum of $5,000 in funding, which can offset such costs as physical barriers, PPE and cleaning supplies, as well as rent, employee wages, replacing inventory and more.

The Small and Medium Enterprise Relaunch Grant will be implemented in two phases:

Phase One Any company that meets the 40% threshold will be able to apply for the grant by end of day November 23.
Phase Two Companies that wish to apply for a second round of funding will be able to do so within the coming weeks. *More detailed information on phase two timing will be available this week.

Learn more about the Small and Medium Enterprise Relaunch Grant here:

www.availcpa.com/news/small-and-medium-enterprise-relaunch-grant

Or visit the Government of Alberta program web page here:

www.alberta.ca/sme-relaunch-grant.aspx

QUESTIONS?

Contact our subsidy expert, Andrea Harper, at andrea.harper@availcpa.com OR 403-382-6800 OR complete the contact form below.

Contact the Avail CPA Help Desk

For a complete list of our COVID-19 resources for individuals and businesses, please visit availcpa.com/resources