The B.C. government continues to give small and medium-sized businesses a helping hand, extending the deadline for the Business Recovery Grant program.
“We continue to listen to B.C. businesses about what they need to navigate through the second wave of this pandemic and position themselves for a strong recovery,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation.
“This funding has been set aside for businesses to help them rebuild, keep people employed and support B.C.’s economic recovery. We are committed to making sure hard-hit businesses can access these critical funds.”
The time to apply for the grant program has been extended from March 31st to August 31st.
The previous requirement for a business to have experienced at least a 70% revenue loss at some point in March or April 2020 has been adjusted.
Now, a business is required to demonstrate only a 30% revenue loss in any one month between last March to the point of application.
The $345-million dollar initiative provides fully funded grants to businesses that employ up to 149 B.C. residents.
Grants of $10,000 to a maximum of $30,000 are available, with up to an additional $5,000 to $15,000 available to tourism-related businesses.