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New Brunswick programs | COVID-19: Funding and financial relief programs for startups and small businesses

Canada Publication June 2020

A detailed table outlining the various programs available in New Brunswick are listed below. If you would like to discuss your eligibility for any of these programs, please do not hesitate to contact a member of our team.


Atlantic Canada Opportunities Agency (ACOA)’s Atlantic Innovation Fund

Description Eligibility Application details
  • The AIF helps Atlantic Canadians develop and bring to market new products and services that lead to market success, help grow strategic sectors, or lead to the creation of research and commercialization partnerships. To find out more, including who can apply and how much assistance is available, please see our Frequently Asked Questions or contact ACOA 
  • To be eligible, you are a business, co-operative, university, college, or research institution looking to: develop and bring to market new products and services that meet market demands and global quality standards; adapt new technology to meet business needs or respond to market opportunities; or help Atlantic Canada’s new and traditional sectors pursue opportunities, solve challenges, stay competitive and grow
     
  • To submit an application for financial assistance, click here
 

Propel Accelerator 

Description Eligibility Application details
  • Propel is an accelator program devoted exclusively to Atlantic Canada. Propel works with technology companies that have potential to scale quickly.
  • The program offers mentorship and may assist with early stage funding by connecting companies to investors.
  • There are no up-front costs to join
  • The program is flexible and accepts a wide range of early stage technology companies, whether led by solo founders or larger teams, and at various stages of their growth
     
  • Applications are accepted on a rolling basis.
  • Submit your application here

NB Small Business Emergency Working Capital Program 

Description Eligibility Application details
  • Small business owners impacted by the COVID-19 pandemic can apply for working capital loans up to $100,000
  • The loans are funded by Government of New Brunswick and are administered by the Community Business Development Corporation (CBDC)
  • Accessible to small businesses employing 1 to 49 employees, including sole proprietors and self-employed, with sales of less than $10 million in the most recent fiscal year
 

Waiving Late Penalties on Property Taxes

Description Eligibility Application details
  • Late penalties for business property taxes due May 31, 2020 will be reviewed on a case-by-case basis to see if the penalty can be waived due to undue financial challenges
  • Late penalties for business property taxes due May 31, 2020 will be reviewed on a case-by-case basis to see if the penalty can be waived due to undue financial challenges
 
  • N/A
 

Deferring Interest and Principal Payments on Existing Loans 

Description Eligibility Application details
  • As an immediate measure, and on a case-by-case basis – the Government of New Brunswick will defer loan and interest repayments for up to six months on existing provincial loans 
  • This assistance is available, on a case-by-case basis, to any business that has a loan with an existing Government of New Brunswick department. The deferral can be requested by contacting the department that issued the loan 
     
  • N/A
 

Injecting Working Capital for Mid-to-Large Employers

Description Eligibility Application details
  • Working capital in excess of $100,000, up to a maximum of $1 million is available
  • Business can apply directly to Opportunities New Brunswick
  • New Brunswick employers who suffered financially due to COVID-19 may be eligible
     
 

Community Investment Fund (CIF)

Description Eligibility Application details
  • The Government of New Brunswick has included a new category into the Community Investment Fund to assist in providing relief to non-profits being impacted by COVID-19
  • This funding is available for small to medium-sized non-profits in the form of a grant between a minimum of $500 and up to a maximum of $10,000 
 

WorkSafeNB 

Description Eligibility Application details
  • Assessment premiums related to employer payrolls for March, April and May will be deferred for three months without interest charges
  • New Brunswick employers may be eligible
     
  • N/A
 

 



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