Funding could be used to make improvements to accommodate social distancing requirements
Ontario is investing $10 million in the Support for People and Jobs Fund for Indigenous-owned small and medium sized businesses that are either ineligible for, or unable to access, existing federal and provincial COVID-19 response initiatives for small businesses.
“Indigenous businesses are experiencing revenue shortfalls at this time, as many are located in rural or remote areas and operate in hard-hit service sectors such as tourism, hospitality and retail,” said Greg Rickford, minister of Indigenous affairs. “This funding responds to their unique challenges and will help them get back up and running so they can contribute to the rebuilding of the provincial economy.”
Loans of up to $50,000 will be available to businesses through Aboriginal Financial Institutions. Up to 50 per cent of each loan will be in the form of a non-repayable grant, with no interest due on the loan portion until December 31, 2022.
Businesses may use these funds to make improvements to accommodate social distancing requirements, such as the installation of plexiglass barriers, and to cover general expenses such as payroll, rent, utilities and taxes. They may use the funds towards increasing production capacity, developing new products or moving to online marketing.
“Ontario's small businesses are the backbone of our economy and their recovery is critical to Ontario's recovery,” said Prabmeet Sarkaria, associate minister of small business and red tape reduction. “As many Indigenous small businesses across the province closed their doors and halted business during the COVID-19 outbreak, many struggled to keep the lights on. Today, we are providing these businesses with the support they need to recover and adapt to the challenges of this unprecedented time.”
Businesses may use these funds to make improvements to accommodate social distancing requirements, such as the installation of plexiglass barriers, and to cover general expenses such as payroll, rent, utilities and taxes. They may use the funds towards increasing production capacity, developing new products or moving to online marketing.
Recently, Ontario announced it is investing more than $500 million over five years to transform correctional facilities across the province to help ensure the safety and security of frontline staff.
The government is also funding locally-based CSA Group Testing & Certification Inc., a subsidiary of the Canadian Standards Association, to increase capacity for testing and certifying personal protective equipment (PPE).
