COVID-19 Small Business Recovery Fund
As the situation around the novel coronavirus (COVID-19) continues to evolve, the MRC Pontiac is here to support our local small businesses as they navigate through adaptation and change. We have made $70,000 available to assist our businesses in their COVID-19 recovery efforts. These funds are available in the form of non-repayable grants up to $5,000, to be used to help businesses implement new measures, to adapt business practices and to shift operations in response to the new economic reality.
- Must be an existing registered small business (less than 10 full-time permanent employees), in business for at least 1 year;
- Must be located within the MRC Pontiac;
- Must be a sole proprietorship or a corporation where the applicant is the majority shareholder (if incorporated, personal name must be included on application form);
- Is an independent business venture;
- Maintains a separate business bank account, follows government rules and regulations for operating a business.
Note: This funding is not meant to cover costs of staying open during COVID-19. The MRC Pontiac has emergency aid loan funds available to assist with operational costs.
Businesses Not Eligible
- Franchises, commissioned sales and distributorships;
- Not-for-profit or charitable enterprises;
- Multi-level marketing ventures;
- Single event such as musical ventures/concerts, bands, DJs or dance/party event organization
Requirements of Program
- Must demonstrate negative effects/financial impacts that COVID-19 has had on normal business operations;
- Project must describe how funds will be used to pivot existing business practices in order to adapt in the post-COVID-19 economy (funds are not intended to cover expenses relating to safety such as masks and hand sanitizer);
- Must provide bi-monthly updates to Economic Development Department for 6 months on the progress of implementation of plan;
- Must be over 18 years of age and not in full time education.
- Regular operating costs (ex.: rent, salaries, insurance, inventory including masks, sanitizer, etc.);
- Professional services not directly related to COVID-19 pivoting (ex.: legal, architectural, accounting fees);
- Debt servicing, loan repayment;
- Working capital;
- Bank charges and interest;
- Amortization of real estate assets;
- Reimbursable taxes.
Note: Application will be reviewed by an analysis committee. If successful, funds will be distributed 50% at time of signing an agreement, the remainder upon proof of expenses as per proposal, accompanied by proof of payment. Where a recipient is unable to cover invoices, arrangements can be made in advance for the program to pay suppliers directly, up to the maximum amount awarded as per the agreement.
Projects that detail expenses and measures implemented after the beginning of the pandemic may be considered. Eligible expenses incurred after March 24th (official shut-down of non-essential business in Quebec) may be considered if an applicant can demonstrate that the expenses were used to pivot business activities and adapt. Detailed invoices and proofs of payment will be mandatory.
Applications will be accepted until October 23, 2020.
Projects must be completed within 1 year of signing the funding agreement.
- Online Application Form – COVID-19 Small Business Recovery Fund
- COVID-19 Small Business Recovery Fund (Paper copy to download)