Sponsoring Agency: Western Economic Diversification Canada
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/30/2021
Size of the Fund: USD $50,000 to $500,000
Western Economic Diversification Canada (WD) provides eligible small and medium-sized enterprises (SMEs) with an interest-free repayable contribution of up to $60,000 to help alleviate financial hardship resulting from COVID-19 during the period of April 1, 2020 – March 31, 2021. The objective is to assist western Canadian SMEs that do not qualify for the Canadian Emergency Business Account (CEBA) program, or the “RRRF – Community Futures Stream.”
Step 1. Apply for initial funding of up to $40,000
• Your business is located in Western Canada (defined as British Columbia, Alberta, Saskatchewan or Manitoba)
• Your business has fewer than 500 full-time employees (FTEs)
• Your business is not eligible for, or has been declined for, CEBA funding
• Your business is not eligible for the “RRRF – Community Futures Stream”
• Your business is not eligible for the “RRRF – Women’s Enterprise Initiative Stream”
• Your business was operational as of March 1, 2020
• Your business has suffered financially because of the COVID-19 pandemic
• You intend to continue operations in Western Canada
Examples of businesses that are not eligible to apply to the RRRF
• Sole proprietorships
• Not-for-profit organizations
• A government organization or body, or an entity owned by a government organization or body.
• A union, charitable, religious or fraternal organization or entity owned by such an organization or if you are, you are a registered organization that has filed your T2 return or T3010 return and that generates a portion of your revenue from the sales of goods or services.
• An entity owned by any Federal Member of Parliament or Senator; and
• An entity that promotes violence, incites hatred or discriminates on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.
Step 2. Apply for the expansion of up to $20,000
• The maximum amount of funding under the expansion is up to $20,000 regardless of the original amount approved (i.e. if a successful applicant did not receive the full $40,000, they can stll only apply for up to a maximum of $20,000). Funding is based on the company’s operating deficit from October 1, 2020 to March 31, 2021.
• Once you have applied or have received a repayable contribution under the RRRF Program (up to $40,000), you will receive an email invitation with a link to apply for up to $20,000 more based on your company’s operating deficit (total operating costs minus revenue) from October 1, 2020 to March 31, 2021.
• To apply for the funding expansion of up to $20,000, businesses must meet the following mandatory criteria:
o Have already received funding or submitted an application for the initial funding of up to $40,000
o Have the reference number from your original application and a CRA business number (or provincial incorporation number) that matches the one in your original application
o Continue to meet the eligibility requirements of the initial RRRF funding of up to $40,000
More information at: https://www.wd-deo.gc.ca/eng/20060.asp
