S upport for Businesses
New measures announced for the Canada Emergency Wage Subsidy (CEWS)
NOTE: These changes need to be ratified by an upcoming piece of legislation with the new criteria as follows :
 
Companies will still need to demonstrate a decline in revenue, but companies are now allowed to:

Compare their revenue of March, April and May 2020 to (a) that of the same month of 2019, or to (b) an average of their revenue earned in January and February 2020.

Demonstrate only a 15% gross revenue decline in March (30% for April and May will remain).

Choose between cash and accrual accounting to measure the revenue decline.
 
Additionally, the Government is proposing that employers eligible for the CEWS be entitled to receive a 100-per-cent refund for certain employer-paid contributions to Employment Insurance, the Canada Pension Plan, the Quebec Pension Plan, and the Quebec Parental Insurance Plan. This refund would apply to the entire amount of employer-paid contributions in respect of remuneration paid to furloughed employees in a period where the employer is eligible for the CEWS.

More information is available on the municipal website at petawawa.ca/business

Click for full media brief here
Renfrew County Business Survey

In order to better understand the circumstances of the impacts to the businesses and people within the County of Renfrew during COVID-19 pandemic, please complete a short survey .


Renfrew County Economic Task Force COVID-19 Response and Recovery

A Task Force is being developed in order to efficiently and effectively realize recovery from COVID-19 for businesses and residents.

Related Information is available here.
CANADA EMERGENCY BUSINESS ACCOUNT (CEBA) - UP TO $40,000 LINE OF CREDIT

Eligible businesses may borrow up to $40,000 through the federally funded CEBA mechanism.  The CEBA is a revolving line of credit made available to eligible businesses through an online application process. The banking institutions will be the administrators of the funds when the online application portal opens.

To be eligible for this fund:

Businesses which paid an annual payroll of $50,000 to $1,000,000 in 2019.  The funds are intended to cover non-deferrable costs such as payroll, rent, insurance, and utilities.

An officer or director of the company should plan to enroll and apply online.  This must be a person able to make legal attestations for the business and authorized to bind the business

Applicants will need 2019 T4 Summary of Remuneration Paid statement at the time of application. 

For more details please review information on petawawa.ca/business
SMALL & MEDIUM-SIZED ENTERPRISE (SME) LOAN & GUARANTEE PROGRAM - UP TO $6,250,000 LOAN PER SME

These are the business loan facilities which will be backstopped by EDC and BDC.   More details of the sub-streams of this program are coming online daily through the Government of Canada, EDC, and BDC websites, as well as publications from the major banks referencing the SME Loan & Guarantee Program.

BDC Co-Lending Program.   Through this sub-stream the Business Development Bank of Canada (BDC) will provide a guarantee to the business’s primary bank to co-lend a term loan to the business for operational cash flow requirements.  BDC will assume 80% of the risk.  The bank will assess, underwrite, approve, and fund the qualifying SME.  

EDC Guarantee: Through this sub-stream, Export Development Canada (EDC) will provide a guarantee to the business’s primary bank so that the bank can issue a new operating credit and cash flow term loan, up to a maximum of $6,250,000 per SME.  The loan will be 80% guaranteed by EDC and must be repaid within one year. 

for more information please review information on petawawa.ca/business
To participate go to the Petawawa Business Facebook page, like the page and provide the five responses as a comment in the posting thread.
Support our Businesses
2020 Social Media Campaign
We have launched a five week social campaign to recognize and support our area businesses. Each week a new question will be posted to which people can respond recognizing five local businesses. The randomly selected winner each week will win $50 in Petawawa business gift cards.

Virtual Mama Market with Paperback Events is live on Instagram April 9-13. Check out their Instagram marketplace now to shop local businesses!
Petawawa Business Video Promotion Program

We launched a new social campaign to showcase the Petawawa businesses and highlight how residents can shop and support them during this global pandemic.

We can assist you with creating the video or you can produce yourself. The more interest we have in the videos the more often we will post.

More details on how you can participate in this FREE program is here.
Service Concierge - Digital Media Virtual Workshops
Stay tuned as our partnership group move forward with bringing the Service Concierge - Digital Media program direct to your homes and businesses. More to follow soon!
Petawawa Business Directory
If you operate a commercial or home based business, in the geographic boundaries of Petawawa, you can post to our Business Directory. It is an easy reference resource to finding products and services in our community and shows how DYNAMIC our businesses are!
Town of Petawawa
1111 Victoria St. Petawawa, Ontario
Phone 1-613-687-5536