/Funding available for businesses hit by pandemic

Funding available for businesses hit by pandemic

A couple of funding opportunities are available for businesses that have been impacted by the current economic shutdown imposed by the provincial government amid the ongoing COVID-19 pandemic.

For tourism-based businesses, the Ontario Highlands Tourism Organization, through its Tourism Recovery & Innovation Program is offering a funding stream called TRIP – Capital Projects Program. This program is for small to medium businesses and provides non-repayable funding up to 80 per cent of eligible expenses incurred to modify operations to a maximum of $20,000.”This program was created to offset costs related to one-time modifications and/or re-opening costs, implementation of health and safety protocols, and digitization measures,” reads a release from OHTO.

The program began accepting applications Jan. 15, and while they will be accepted throughout the year or until funds are depleted, priority will be given to applications received before Jan. 31. Applications require information such as business numbers, HST numbers, 2019 financials, insurance documents, copies of receipts and invoices, and a 500-word summary of what the funds would be used for.
More funding details are available at https://comewander.ca/trip/

Another program, the Ontario Small Business Support Grant is intended for businesses that have had to close or significantly restrict services as a result of the provincial shutdown. Eligible businesses can receive between $10,000 and $20,000 to be used for a variety of purposes. Businesses must have fewer than 100 employees and must have experienced a 20 per cent revenue decline from April of 2019 to April of 2020. Application forms are available at https://www.app.grants.gov.on.ca/msrf/#/

– Staff