COVID-19

Financial Support for Businesses, Employers and Employees

There are many short-term programs, grants, income support, service and relief options for those impacted by COVID-19. To help make it easier, NTI has gathered information for businesses, employers and employees located in Nunavut.

Programs are sponsored by different groups including: NTI, GN, Inuit organizations and Government of Canada. Where available, each program includes a website, email or phone number. Please contact them directly to see if you are eligible.

Updated: September 17, 2021

Canada Emergency Response Benefit (CERB)
The CERB closed to retroactive applications on Dec. 2, 2020. You can no longer apply for this benefit. Questions? 1-800-959-2019 or 1-800-959-2041.

Canada Emergency Wage Subsidy (CEWS)
The Gov of Canada will cover a portion of an employee’s wages for eligible employers. We are covering up to 75% of an employee’s wages for qualifying eligible employers, with this subsidy rate in effect until June 2021. The wage subsidy supports you to keep and re-hire your employees and avoid layoffs.

This support is available until October 23, 2021

https://www.canada.ca/en/department-finance/economic-response-plan.html#individuals

Extending Lay off Periods
The Gov of Canada has extended time periods for temporary layoffs by up to six months in the Canada Labour Standards Regulations to allow employers more time to recall laid-off employees. The temporary changes will help protect the jobs of federally regulated private-sector employees and support employers facing economic hardship because of the pandemic.
https://www.canada.ca/en/department-finance/economic-response-plan.html#individuals

Work Sharing program
The Government of Canada is extending the Work-Sharing program from 38 weeks to 76 weeks for employers affected by COVID-19. This provides income support to employees eligible for Employment Insurance who agree to reduce their normal working hours.
https://www.canada.ca/en/department-finance/economic-response-plan.html#individuals

Government of Nunavut – Small Business Support Program
This program helps small businesses, community organizations and individuals with support to grow. This is for Nunavut Residents and business majority owned by Nunavut Residents. There are three funds: Small Business Opportunities Fund, Entrepreneur Development Fund and the Sustainable Livelihood Fund. For details, contact your Manager of Economic Development for all regions including Kitikmeot, Kivalliq, North Baffin and South Baffin, or visit the GN website.
https://gov.nu.ca/edt/programs-services/small-business-support-program

CanNor – Northern Business Relief Fund (NBRF)
In recognition of the continuing impacts of COVID-19 on Tourism and related industries in the territories, CanNor is offering to extend financial support beyond July 31, 2020, to current eligible recipients of the NBRF program. The funding extension is based on demonstrated need and would provide funding up to a maximum of $100,000 or up to March 31, 2021, whichever comes first. This is intended primarily for businesses operating in Tourism, Accommodations and Food Services, as well as Arts, Entertainment/Recreation, Transportation and Retail sectors. Businesses in other sectors may be considered on a case-by-case basis. Contact CanNor for businesses located in Nunavut 1-855-897-2667
https://www.cannor.gc.ca/eng/1587153226618/1587153246025

Business Tax Deferment
The CRA is further extending the payment due date for 2019 individual tax returns and 2019 or 2020 corporation, or trust returns, as well as for instalment payments, from September 1, 2020, to September 30, 2020.
https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html

Deferral of Sales Tax Payments and Customs Duty Payments
Businesses, including self-employed individuals, may defer payments of the GST/HST until June 30, 2020. This includes customs duty owing on their imports.
Any GST/HST payment that is owing from March 27 until the end of May can be deferred until the end of June. For GST and customs duty payments for imported goods, deferral will include the amounts owing for March, April and May.

https://www.canada.ca/en/department-finance/news/2020/06/government-provides-update-on-sales-tax-and-duty-payment-deferral.html

Canada Emergency Business Account (CEBA)
CEBA provides interest-free, partially forgivable, loans of up to $40,000, to small businesses and not-for-profits, that have reduced revenues due to COVID-19 but face ongoing non-deferrable costs, such as rent, utilities, insurance, taxes and wages.
As of December 4, 2020, CEBA loans for eligible businesses will increase from $40,000 to $60,000. Applicants who have received the $40,000 CEBA loan may apply for the $20,000 expansion. All applicants have until June 30, 2021, to apply for $60,000 CEBA loan or the $20,000 expansion. For questions, please contact the CEBA Call Centre at 1-888-324-4201.
https://ceba-cuec.ca/
*NEW* All applicants can check the status of their CEBA Loan at https://status-statut.ceba-cuec.ca/

Loan Guarantee for Small and Medium-Sized Enterprises
Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs). The support is for operational expenses and is available to both exporting and non-exporting companies. Business owners can apply for support from CEBA through their banks and credit unions until June 2021.

Co-Lending Program for Small and Medium-Sized Enterprises
Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements, based on business revenues. Business owners can apply for support from CEBA through their banks and credit unions until June 2021.

Regional Relief and Recovery Fund (RRRF)
The RRRF will help businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and local economies. This fund is for those who may need extra help to recover from the COVID-19 pandemic but have been unable to access other supports. Contact Canadian Northern Economic Development Agency (CanNor)
for businesses located in Nunavut 1-855-897-2667

Mid-Market Financing Program
Business Development Canada’s (BDC) Mid-Market Financing Program provides commercial loans between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures. BDC anticipates that qualifying companies will have annual revenues more than $100 million. This support is available until June 2021.

Relief for Pension Plan Payments
The Government of Canada is providing temporary relief to sponsors of federally regulated, defined benefit pension plans, through the remainder of 2020, on solvency payments for defined benefit plans. Employers will have money for their operations and pension plans, and to protect the retirement security of their workers and retirees.
https://www.canada.ca/en/department-finance/news/2020/04/government-announces-relief-for-federally-regulated-pension-plan-sponsors.html