Alberta’s government is lowering the threshold and increasing the grant amount of the Small and Medium Enterprise Relaunch Grant in its effort to help businesses impacted by COVID-19 restrictions.
The program initially announced in the spring and updated in November is now expanding to include those who have experienced a 30% revenue loss due to the COVID-19 pandemic. This lowers the threshold from the existing requirement of 40% revenue loss.
The grant will also now provide a payment of 15% of pre-pandemic monthly revenues up to a maximum of $15,000 – for a total of $20,000 in potential funding available for each business, up from the original $5,000.
More program details are outlined on the program webpage.