Small business grant enhanced and extended until Green level of recovery28 May 2021
FREDERICTON (GNB) – Opportunities NB is launching the second phase of the New Brunswick Small Business Recovery Grant program. Phase 2 of the program includes enhancements to improve accessibility and provide assistance to small businesses that have been impacted by the COVID-19 pandemic.
Businesses that accessed the grant under the first phase remain eligible to apply for the full amount available under Phase 2, which applies to losses incurred beginning April 1, 2021.
Among the amendments for the second phase:
- Eligible businesses can apply for a non-repayable grant of up to $5,000 to help offset the ongoing impact of the pandemic when subject to elevated Public Health measures and restrictions.
- Previously, businesses could only access the grants under Orange, Red or Lockdown Public Health levels. Now, businesses can access this support when subject to Yellow, Orange, Red or Lockdown levels.
- Within the $5,000 available to business, a one-time subsidy of up to $300 to reimburse costs incurred in the preparation of applications.
- Reducing the 30 per cent year-over-year drop in revenue threshold to 20 per cent when compared to the same month in 2019.
- The program will remain open to eligible businesses until New Brunswick reaches the Green level of recovery.
“While the pandemic has been unpredictable, our commitment to business is not,” said Economic Development and Small Business Minister Arlene Dunn, who is also minister responsible for Opportunities New Brunswick. “The changes we are bringing to the program will ensure New Brunswick businesses continue to get the support they need in a timely manner.”
Applications will be accepted beginning June 1.
Businesses within the defined eligible sectors that have been subject to elevated Public Health measures (i.e., Yellow, Orange, Red or Lockdown) and/or impacted by measures limiting unnecessary travel into New Brunswick, are able to apply for up to $5,000 in non-repayable funding support, assuming they meet the other criteria.
Eligible business types include restaurants (excluding businesses with drive-thru options), caterers, and drinking establishments, personal services (barbers, hair stylists and spas); gym and fitness facilities; amusement centres, bingo halls, arcades, cinemas, large live performance venues, eligible tourism operators, and non-essential retail businesses located in lockdown zones.