COVID-19 Business Support
St Lawrence Corridor Economic Development Commission is closely monitoring and assessing new developments pertaining to COVID-19 and its effect on regional businesses. We are here for our community and are working to provide support in any way that we can. To that end, we are providing resources and 1 on 1 support services to help local commercial and industrial businesses to navigate and survive the impact of COVID-19.
Working Capital
Supporting cash requirements for business continuity and identify long-term growth opportunities, the Corridor will help align your business to available Government Subsidies.
Canada Emergency Wage Subsidy (CEWS)
– Applications for the CEWS will be open on April 27 –
The subsidy generally covers 75% of an employee’s wages – up to $847 per week – for employers of all sizes and across all sectors who have suffered a drop in gross revenues of at least 15% in March, and 30% in April and May. [MORE]
Click here to download the CEWS spreadsheet […]
NRC IRAP Innovation Assistance Program (IAP)
– The call for applications will close Wednesday, April 29, 2020 at 11:59 pm EDT. –
On April 17, 2020, the Government of Canada announced $250 million in funding for the Innovation Assistance Program (IAP) to assist Canadian small and medium-sized enterprises (SMEs) IRAP IAP provides a wage subsidy to eligible employers for up to 12 weeks.
SMEs pursuing technology-driven innovation who have been unable to secure funding under the Canada Emergency Wage Subsidy (CEWS) are eligible and can apply for financial assistance under IRAP IAP. [MORE]
Canada Emergency Commercial Rent Assistance (CECRA)
The program will provide forgivable loans to qualifying commercial property owners to cover 50% of three monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.. [MORE]