Financial Support · Government Updates May 27th, 2020

City of Edmonton unveils Economic Recovery Program for business

The City of Edmonton has launched several tools and sets of services for businesses requiring financial support during COVID-19 recovery.

It consists of five tools:

  • Option to reduce business licence fee payment by 50 per cent (upon request) until December 31, 2020;
  • The Edmonton Economic Recovery Grant;
  • Continued One-on-One Support Program;
  • Process improvements and red tape reduction; and
  • Nimble responses to specific business needs for relaunch and recovery.

Edmonton Economic Recovery Grant

This is a new, two-phased funding program designed to support businesses in the initial relaunch and through the recovery phase as further COVID-19 effects on business are identified. The funds will be delivered through two streams: the Individual Business stream and the Organization stream.

Individual Business stream

The Individual Business stream will provide matching grants of a maximum of $25,000 per grant to applicants struggling to re-open or pivot their business as a result of COVID-19.

  • Phase 1: Matching microgrants up to $1000, $2500 or $5,000 (June – December 2020)
  • Phase 2: Matching grants up to $25,000 for longer term diversification initiatives (Beginning January 2021)

Click here to apply for the Individual Business Grant (Intake for applications opens every Monday at 9am and is open for 24 hours, or until 75 applications are received).

Organization stream

These grants are for business associations, organizations and groups and are intended to support local economic development and help businesses recover from COVID-19. Matching grants can be used to support short term needs related to recovery as well as longer term initiatives related to diversification of the local economy.

  • Phase 1 funding will provide up to $75,000 in matching grants to support the immediate needs and recovery efforts for Edmonton’s businesses (Beginning June 15, 2020).
  • Phase 2 funding will provide up to $75,000 matching grants for longer term recovery initiatives (Beginning January 2, 2021).

Click here to apply for the Business Association grant (applications open June 15, 2020).

When will this be available?

The grant will be available after June 8, 2020. Phase 1 will begin in mid-June, with Phase 2 starting January 2021.

For more information

More information on the five tools as well as the grant program’s criteria and application process will be available at edmonton.ca/businessinfo.

Contributor

Sam Jenkins Read More
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