News Ebene – CA – BC eases requirements for struggling businesses applying for grants

The BC Government has relaxed the eligibility conditions for small and medium-sized businesses applying for grants to survive the COVID-19 pandemic

Ravi Kahlon, Minister of Employment and Economic Recovery, says companies must show a 30% drop in revenue instead of 50% since March as part of the 10 grant eligibility criteria $ 000 to $ 30,000

He says tourism businesses will now be eligible for up to $ 45,000 in non-repayable grants, and that the tourism minister will announce further support for the sector on Tuesday (Dec. 22)

Kahlon says companies previously had to operate for three years to get financing, but that requirement has been reduced to 18 months

He says that means companies only need to have been in business for nine months before the pandemic to apply for a grant

Applications can now be made online, and companies that have already applied for the initial Stimulus Grant program implemented in October will be considered under the new criteria

“Being a business owner in these uncertain times poses challenges that no one could have ever imagined” Kahlon said today (Dec 21)

The government has also dropped the requirement for businesses to include certain information in the application, including registration numbers for GST, Provincial Sales Tax and WorkSafeBC, to make the process easier for businesses

Ian Tostenson, president of the BC Restaurant Foodservices Association, says small and medium-sized employers struggle to keep their doors open, adding that many of the industry’s 193,000 employees are women aged 15 to 25

The grant program is aimed at businesses that employ between two and 149 BC residents

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Ebene News – CA – BC eases requirements for struggling businesses applying for grants

Source: https://www.princegeorgematters.com/bc-news/bc-eases-requirements-for-struggling-businesses-applying-for-grant-funding-3203836