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The latest on available government support programs

While Covid-19 and related variants continue to affect BC business, a number of federal and provincial government supports are in place to help business resiliency and economic recovery. Below are some of the funding supports that your business may qualify for. For a complete list, visit https://www2.gov.bc.ca/gov/content/covid-19/economic-recovery/business-supports#loans-grants

FEDERAL
Jobs and Growth Fund
Supports organizations in future-proofing their business, building resiliency, and preparing for growth. Eligible businesses with fewer than 500 full time employees may qualify for interest-free repayable contributions for up to 50% of eligible costs. Eligible not-for-profit organizations may qualify for non-repayable contributions for up to 90% of eligible costs. Indigenous-led organizations and businesses may qualify for up to 100% of eligible project costs. https://www.wd-deo.gc.ca/eng/20183.asp

Large Employer Financing Facility
Provides short-term liquidity help through interest-bearing term loans to large Canadian employers who have been affected by COVID-19. LEEFF continues to provide bridge financing to employers to help these enterprises to preserve their employment, operations and investment activities. https://www.cdev.gc.ca/home-ceefc/

PROVINCIAL
Bill Relief

  • BC Hydro is providing residential and commercial customers the option to arrange flexible payment plans
  • ICBC customers on a monthly Autoplan payment plan, who are facing financial challenges due to COVID-19, can defer their payment for up to 90 days with no penalty

Taxes
Some provincial taxes have been deferred, delayed or reduced: