Understanding the SME Relaunch Grant Updates with KWB
If you applied for the Canada Emergency Wage Subsidy (CEWS) in April or May, you could receive additional funding from the Small and Medium Enterprise Relaunch Grant.
At KWB, our goal is to assist you in receiving as much relevant information as possible during these uncertain times and obtaining the maximum funding for your business.
The Small and Medium Enterprise Relaunch Grant offers financial assistance to those Alberta-based businesses that were ordered to temporarily close or modify operations due to the Covid-19 pandemic.
The program, open to those who’ve experienced at least a 30% loss in revenue in either April or May (first payment) or closures after November 6th (second payment), offers up to $20,000 in funding.
A complete list of the eligibility criteria for this grant can be found on this page.
The funds can help businesses with accommodating for new public health measures, like the installation of physical barriers and purchasing of PPE, to everyday operational costs, like paying rent, wage payments, or replacing inventory.
Grant funding amounts for the first payment are calculated based on 15% of the eligible organization’s pre-COVID-19 monthly revenue up to a maximum of $5,000 per business.
Applicants can choose either April or May 2020 to demonstrate their revenue reduction.
A second payment is available to businesses in areas on the provincial watch list that were required to temporarily close or reduce operations as a result of new public health orders in effect from November 6, 2020 and later.
The second payment is calculated up to a maximum of $15,000.
How to apply
To apply for the Small and Medium Business Relaunch Grant, submit your application through your online portal.
For step-by-step instructions, you can use the Small and Medium Enterprise Relaunch Grant comparison guide.
Note: If you have already submitted an application for the first payment of the Small and Medium Business Relaunch Grant, do not submit a new application. A new submission will be flagged and marked as a duplicate, which may interfere with receiving your second payment.
KWB strives to keep our clients informed of news that could affect their business and their lives. If you would like to be a valued KWB client, click here or call us at (780) 466-6204.
Source: Government of Alberta