The Canadian Northern Economic Development Agency launched a new financial relief program to support Northern business owners across the country.
The Northern Business Relief Fund (NBRF) provides short term support for ongoing fixed costs for small and medium sized businesses located in the territories that have been impacted by economic disruptions due to COVID-19.
The NBRF will provide qualifying small and medium sized enterprises (SME) with support for up to 100% of eligible fixed costs, up to a maximum of $100,000 over a 4 month period, retroactive to April 1, 2020.
Eligible recipients include all licensed, northern-based SMEs including
- incorporated companies
Provided the business is eligible, and is currently operating at a loss as a direct result of COVID-19.
Eligible fixed costs could include:
- rent / mortgage
- water and sewer
- phone and internet
- subscriptions (software)
- other fixed costs as deemed reasonable at the sole discretion of CanNor
Information on the program, as well as the application form, can be found here.
Applicants are also required to submit a direct deposit form here.
Your application must be submitted to the Northwest Territories Regional Office: 867.444.0659 or [email protected]