EDMONTON (660 NEWS) – Alberta’s UCP government says it will be enhancing its small business relaunch grant to help more companies affected by the pandemic.
The enhanced benefit will soon provide up to $30,000 to small and medium-sized businesses that have been most affected by COVID-19 and the ongoing health restrictions.
“We’ve heard the calls for more support,” said Premier Jason Kenney. “We are providing even more funding for Alberta job creators to help them deal with the devastating impacts of COVID-19.”
Businesses that can show a revenue reduction of 60 per cent or more will be eligible to receive 15 per cent of their monthly revenue, up to a maximum of $10,000.
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The Enhanced COVID-19 Business Benefit is meant to provide additional support in cases where federal programs fall short.
Businesses are also required to report the total amount of provincial and federal support received, to ensure no more than 80 per cent of revenue is covered.
“We promised small businesses that we would continue to listen and be there to support them throughout this pandemic,” said Minister for Economy, Jobs, and Innovation Doug Schweitzer.
“This additional payment will provide additional support to Alberta’s small businesses to get them through this pandemic.”
Payments under the enhanced benefit will be available starting April and eligible business can apply until Mar. 31.
The provincial government says it is budgeting around $120 million for this program.