By Goat Staff
The eligibility criteria for the Small and Medium Sized Business Recovery Grant has changed and businesses who applied for the grant last year and didn’t receive it will have their applications reviewed to see if they will be eligible under the new criteria.
Grants of $10,000 to $30,000 are available to small and medium sized B.C. businesses impacted by COVID-19. An additional $5,000 to $15,000 grant is available to eligible tourism-related businesses.
The program will only run until March 31 this year or until the funds are allocated.
If you’re deemed eligible, you’ll be asked to develop a recovery plan.
The recovery plan is submitted and reviewed, and if approved businesses will receive the funding.
Businesses may be asked to provide documentation about how the grant funding was used.
Nonprofits are not allowed to apply for the program.
Tourism-related businesses can qualify to receive up to $15,000 in additional funding.
To receive the tourism grant top-up, businesses must declare that a significant part of your business’s total goods or services are purchased by visitors.
A business will only need to pay back the funding if any of the information they submit is untrue, they do not implement their recovery plan or they use the funds for purposes that are not eligible under the program.
The tourism grant top-up is based on how many BC residents were employed pre-COVID.
Businesses employing just 1 person are eligible for an extra $5000, 2-4 people up to $10,000 all the way up to $15,000 for those employing more than 5.
Businesses should apply online at bcbusinessrecoverygrant.com