Avoiding layoffs, rehiring, and creating new jobs
- Work-Sharing program is expanding from 38 weeks to 76 weeks. This is available to workers who agree to reduce their normal working hours.
Access to credit
- Black Entrepreneurship Loan Fund supports Black business owners and entrepreneurs with loans between $25,000 and $250,000. More details on eligibility requirements and how to apply will be available soon. Applications will begin being accepted in May 2021.
- Business Credit Availability Program, brings liquidity to companies with typical revenues between $50 million and $300 million to sustain operations during this uncertain period.
- Large Employer Emergency Financing Facility (LEEFF) provides bridge financing to Canada’s largest employers whose needs during the pandemic aren’t being met through conventional financing, in order to keep their operations going.
Support for farmers
Farm Credit Canada will be issuing an additional $5 billion in credit to help Ag producers, agribusinesses and food processors.
- Mandatory Isolation Support for Temporary Foreign Workers Program (MISTFWP) provides support of $1,500 to each temporary foreign worker to ensure isolation requirements are fully met.
- AgriStability is increasing interim payments from 50% to 75%.
- Emergency On-Farm Support Fund provides funding to improve health and safety on farms and in employee living quarters to prevent and respond to the spread of COVID-19.
- AgriInsurance is expanding include labour shortage as an eligible risk for the horticulture sector. This would insure against lost production due to an insufficient workforce.
- Canadian Seafood Stabilization Fund assists fish and seafood processing sectors.
- Employment Insurance (EI) for fishing benefits supports self-employed fish harvesters and share persons.
Supporting financial stability
- Short-term Compensation Fund Initiative compensates independent production companies for the lack of insurance coverage for COVID-19 related filming interruptions and production shutdowns.
- Emissions Reduction Fund supports workers and reduce emissions in Canada’s oil and gas sector, with a focus on methane.