The Saskatchewan Small Business Emergency Payment program will be moved into the month of May for businesses that are required to remain closed or substantially curtail operations after May 19, 2020.
“While the Re-Open Saskatchewan plan is now underway, we are still very much dealing with the global COVID-19 pandemic, so we need to be methodical in how we implement each phase of the plan in our province,” said Trade and Export Development minister Jeremy Harrison in a press release.
“We want to be flexible and responsive with the program and make sure we provide timely support for businesses so they can utilize this funding where it will provide the most benefit for them. We will continue working closely with our business community on this, and other measures, right through each critical phase of the Re-Open Saskatchewan plan.”
Launched on April 12, the SSBEP is a $50 million program providing financial support to small and medium businesses affected by COVID-19.
Businesses will not need to re-apply if they have previously been accepted, and those that qualify will automatically receive a second payment after May 19.
Payments are based on 15 per cent of a business's monthly sales revenue in either April 2019 or February 2020, with businesses able to select either month to calculate their payment.
The maximum payment is $5,000 per business per eligibility period.
Payments can be used for any purpose, including paying fixed costs or expenditures related to re-opening the business following the pandemic.
For more information and the SSBEP application, visit www.saskatchewan.ca/covid19-businesses.
