After several weeks and months of closures due to the COVID-19 pandemic, squash activity (along with so many other sports) has been halted and squash clubs have been required to seek financial support for fixed operating costs. Below is a summary of the relief programs available to ensure all Member Clubs are taking advantage of the government support offered. This list will be populated as new programs become available.
New for 2022:
Ontario COVID-19covid 19 Small Business Relief Grant - $10,000 awarded fitness clubs that are required to close due to public health orders that took effect 12:01 a.m. on January 5, 2022 and have fewer than 100 employees. Applications for the Ontario COVID-19covid 19 Small Business Relief Grant will be open in the coming weeks. Click on the link above to stay updated.
Ontario Business Costs Rebate Program: applications opening January 18, 2022. Eligible businesses that are required to close or reduce capacity will receive rebate payments for a portion of the property tax and energy costs they incur while subject to these measures. Businesses required to close for indoor activities, such as restaurants and gyms, will receive a rebate payment equivalent to 100 per cent of their costs. Payments to eligible businesses will be retroactive to December 19, 2021. Businesses will be required to submit property tax and energy bills as part of the application process.
Rent Relief
Canada Emergency Rent Subsidy (CERS) - Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021. This subsidy will provide payments directly to qualifying renters and property owners, without requiring the participation of landlords.
Rebates for PPE, Property Taxes and Energy Bills - Businesses that are, or were, required to shut down or significantly restrict services due to provincial public health measures can apply for rebates, provided in the form of grants, to help with their fixed costs. Businesses struggling to pay their energy bills as a result of COVID-19 may also be eligible for the COVID-19 Energy Assistance Program for Small Business (CEAP-SB), which you can apply to through your utility provider.
Staff Salary Support
Canada Emergency Wage Subsidy (CEWS) - As a Canadian employer who has seen a drop in revenue due to the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease your business back into normal operations. To be eligible, the club must 1) Have had a CRA payroll account on March 15, 2020 2)Meet employer eligibility and 3) Have experienced a drop in revenue. For claim periods 5 and later (claims that cover July 5, 2020, and later), there is no minimum revenue drop required to qualify for the subsidy. The rate your revenue has dropped is only used to calculate how much subsidy you receive for these periods. The CEWS has been extended to September 25. Between March 14 and July 3, 2021, the maximum CEWS subsidy rate is 75%. Subsequently, the maximum rates will decline gradually: 60% (July 4 - July 31), 40% (August 1 - August 28), and 20% (August 29 - September 25).
Canada Recovery Hiring Program (CRHP) New Hiring Subsidy. The 2021 Federal Budget introduced the new CRHP which would provide eligible employers with a subsidy of up to 50% of the incremental remuneration paid to eligible employees in respect of June 6, 2021 to November 20, 2021. The higher of the Canada Emergency Wage Subsidy (CEWS) or CRHP may be claimed for a particular qualifying period, but not both. Employers eligible for CEWS would generally be eligible for CRHP. However, a for-profit corporation would be eligible only if it is a Canadian-controlled private corporation (subject to a few minor exceptions). Eligible employers (or their payroll service provider) must have had a CRA payroll account open March 15, 2020. The same employees eligible for CEWS are proposed to be eligible for CRHP, except that CRHP will not be available for furloughed employees. The subsidy is computed as the incremental remuneration multiplied by the applicable hiring subsidy rate for that period. The rate is 50% for the periods from June 6 - August 28, followed by 40% from August 29 - September 25, 30% from September 26 - October 23, and 20% from October 24 - November 20.
Grants
Canada United Small Business Relief Grant - Grants up to $5,000 available to cover costs inquired no earlier than March 2020. Helping small businesses offset the cost of expenses to open safely or adopt digital technologies to move more of their business online like PPE, renovations to adhere to re-opening guidelines, or enhanced website/developing e-commerce capability. Eligible business must have minimum annual sales in 2019 of $150,000 and not more than $3,000,000.
Community Building Fund (Capital Funding)- Delivered through the Ontario Trillium Foundation and open to Not-for-Profit organizations sustain the viability of your organization and to meet your community’s needs. Applications due September 29.
Highly Affected Sectors Credit Availability - Businesses heavily impacted by COVID-19 can access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs. Guarantee is available until June 30, 2021.
Loans
CEBA Loan - Small businesses and not-for-profits have until March 31, 2021, to apply for $60,000 CEBA interest free loan or the $20,000 expansion if they’ve already applied for the initial $40,000. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 33 percent (up to $20,000).