Create or retrieve your password by clicking here

Canadian COVID-19 Update | Thursday, May 21

May 21, 2020

TIAC’s Advocacy Update

  • The TIAC Team has been busy working on materials for Tourism Week,
    • TIAC will be soon be launching a microsite full of tools your business/organization can use throughout tourism week – stay tuned for a special tourism week email tomorrow
    • TIAC will also be hosting virtual Tourism Town Halls in partnership with some of our provincial partners – find out more and register here
  • TIAC’s President and CEO and held discussion with the Chair of Meetings Means Business and Business Events Canada to discuss recovery measures to support Canada’s business meetings and event sector

Government Announcements

  • Today, the government is announcing $75 million in new funding for Indigenous organizations providing services to Indigenous peoples in urban centres and off reserve. 
    • This additional funding will support community-based projects addressing the critical needs of the Indigenous population including food security, mental health support services, sanitation and protective equipment, transportation, educational materials and support for Elders.
  • The Canada Emergency Wage Subsidy has been extended until end of the summer.
    • For liquidity problems or expenses, businesses can receive a loan through the Canada Emergency Business Account. 
    • If you are not eligible for these supports, the government recommends contacting your regional development agency who will be able to help navigate.
  • In a comment on airline refund questions, the Prime Minister stated the government is working closely with airlines looking at what other countries have done, to make sure Canadians are supported but balancing this with ensuring airlines are able to recover.

In Case You Missed It … 

  • Recently announced changes to the Canada Emergency Business Account (CEBA) mean more businesses – including sole proprietors – can access this support program, which gives small businesses interest-free loans of up to $40,000, of which 25% (up to $10,000) will be forgiven if the full sum is repaid by December 31, 2022
    • TIAC encourages those who have not applied due to concerns over eligibility to consider approaching their financial institution to see if these new terms apply
  • Applications for the Large Employer Emergency Financing Facility (LEEFF) are now open
    • To access funding through LEEFF, employers must have $300 million or more in annual revenues and must be seeking a loan over $60 million. The Canada Development Investment Corporation (CDEV) has created a new subsidiary, the Canada Enterprise Emergency Funding Corporation (CEEFC), to administer LEEFF in coordination with Innovation, Science and Economic Development Canada (ISED) and Finance Canada.
  • Tourism SMEs can now apply for assistance funding through their regional economic development agencies through the Regional Relief and Recovery Fund (RRRF) program.   
    • Details can be found here
    • As this is a new program, we urge members to contact TIAC and let us know if you are encountering difficulties accessing this new program.  As reported earlier, we are already in contact with government officials reporting on possible gaps.  Your feedback and information is very important to help us advocate for changes.

Resources for Businesses 

« »