Regina unveils grant for businesses forced to transform because of pandemic
Grants will range from $1,000 to $25,000
Regina entrepreneurs can now apply for a new grant to help them reshape their business during the pandemic.
Under the Regina Economic Recovery Grant, businesses can receive help for initiatives such as starting curbside pickup or ramping up e-commerce.
Businesses have the option to apply before the end of the year for smaller grants up to $5,000 for immediate short-term needs such as personal protective equipment, or apply for grants up to $25,000 available in the New Year for longer-term initiatives, but they can't choose both.
Regina Mayor Michael Fougere said the program will fill the gap that's not being filled by other provincial or federal programs.
"We have a lot of local businesses in our city that are striving to stay open, to provide services and gainfully employ Regina residents," he said. "It's important that we look at that as a way to help us go through our economic recovery."
Regina Chamber of Commerce CEO John Hopkins said the local food services and accommodation sector alone employs 40 per cent fewer people than it did before the pandemic. He said the new grant will be very important.
"These impacts are very, very significant," he said. "For some businesses you can't take three months of revenue out of the business and expect that it's going to be fine.That's just not the way it works."
Hopkins said the new grant program also provides some relief on issues identified by the chamber's members.
"One of the things that came up continually was the fact that there was a gap in terms of PPE, in particular, and that needed to be addressed," he said. "So that's in part how we came up with some of the program."
Are you a <a href="https://twitter.com/hashtag/yqr?src=hash&ref_src=twsrc%5Etfw">#yqr</a> business that has struggled through the <a href="https://twitter.com/hashtag/Covid19?src=hash&ref_src=twsrc%5Etfw">#Covid19</a> pandemic? Starting today, we are offering funding to help support your short-term needs or longer term recovery efforts. Learn more & apply for the Regina Economic Recovery Grant at <a href="https://t.co/3I3NaaINgL">https://t.co/3I3NaaINgL</a>. <a href="https://t.co/gWQ86SRS9y">pic.twitter.com/gWQ86SRS9y</a>
—@CityofReginaHe said the program is very similar to a model used in Edmonton.
To be eligible, businesses must prove they've suffered financially because of COVID-19 and provide matching dollars to show they are still viable.
The money can't be used for payroll or to make rent or mortgage payments.
Costs incurred after May 19, but prior to applying to the program, are eligible for retroactive funding.
The city said grant applications are only available online and will be received every Monday starting at 9 a.m. CST for 24 hours or until 40 have been submitted.
An adjudication committee will award the grants to the applications that best meet the core criteria, which include helping people return to work, keeping the business open and diversifying or transforming the business in response to a changing market.
The city estimates businesses chosen to receive the grant will receive payment within two to three weeks of applying.
The program will cost the city up to $2 million and be paid through its General Fund Reserve.