Photo courtesy of Canadian Press

By Connor Gunn

Province announces new grants for businesses hit hard by COVID

Nov 23, 2020 | 4:31 PM

EDMONTON, AB– Alberta’s government is providing more financial support to job creators hit hardest by the COVID-19 pandemic.

Businesses are able to apply for a second payment from the Small and Medium Enterprise Relaunch Grant available to businesses operating in areas on the provincial watch list where new health restrictions are in effect.

The province says in a release that businesses who “have experienced a 40 per cent revenue loss due to the COVID-19 pandemic will qualify for the grant, lowering the threshold from the existing 50 per cent revenue loss requirement.”

Minister of Jobs, Economy, and Innovation, Doug Schweitzer, says with the new restrictions, businesses need supports.

“Small and medium-sized businesses are the backbone of Alberta’s economy. From the beginning of the pandemic, the government has been supporting job creators that have suffered the unfortunate impacts of COVID-19. We will continue to work with them to ensure they can continue operating and play an important part of our economic recovery.”

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Businesses that meet the program’s eligibility criteria can apply for 15 per cent of their pre-COVID-19 monthly revenue, up to a maximum of $5,000 in funding.

Applications are open until March 31, 2021, and for more details, including eligibility criteria and how to apply, are outlined on the program web page.

(Lethbridge News Now)