CALGARY — The Alberta government is expanding and increasing the Small and Medium Enterprise Relaunch Grant to help support businesses in the province.
In November, the government announced that Alberta businesses impacted by recent public-health orders were eligible to apply for a second payment through the program. This second payment will now be 15 per cent of pre-pandemic monthly revenues up to a maximum of $15,000 — for a total of $20,000 in potential funding available for each business, up from the original $5,000.
This second payment is available to businesses operating in areas on the provincial watch list where new health restrictions have been implemented. Applications for the second payment in areas under enhanced measures will open this month.
Additionally, the program is now expanding to include job creators who have experienced a 30-per-cent revenue loss due to the COVID-19 pandemic. This lowers the threshold from the existing requirement of 40-per-cent revenue loss. The 30-per-cent threshold will be available to impacted businesses retroactive to March.
“Increasing restrictions are negatively impacting restaurant sales, with 65 per cent of restaurants recently reporting that they are operating at loss,” says Mark von Schellwitz, vice-president for Western Canada, Restaurants Canada. “Restaurants Canada appreciates the Alberta government’s expansion of its re-launch grant program and changes to the program’s criteria, as this will allow more hospitality businesses to access the working capital they critically need to survive the second wave of COVID-19.”
Further details on the program will be available at alberta.ca when finalized. Applications will be open until March 31, 2021, unless otherwise communicated.