Edmonton Economic Recovery Grant for Businesses
Calling all businesses! Have you applied for the Edmonton Economic Recovery Grant yet? The Edmonton Economic Recovery Grant is available to help Edmonton businesses recover from COVID-19. It provides local businesses and business organizations with flexible funding in order to relaunch and strengthen their business models.
Since the launch in June, the City has provided $445,000 in matching funds to 417 businesses. The money had supported the relaunch and strengthening of their business models as they recover from COVID-19. For full program details please visit: Edmonton Business Grants.
Several retailers have embraced online retail, using funds to improve their hardware and software systems. This has allowed them to pivot their business models to add new revenue streams through e-commerce.
Consumers are starting to prepare for Black Friday and holiday shopping. This means a business owner’s marketing may need a refresh. A person could use grant funding to refresh their website, expand marketing efforts (run ads online, in print, etc) or refresh their product lines. Any of these business pivots would be great ways for a business to launch into a successful Q4.
The City Edmonton wants to spread the word that they have made several changes to the administration of the grant. Going forward, businesses may apply for the grant at any time. Applicants should expect to be contacted by the City within 2 weeks of applying. They will contact all applicants whether their application was successful or not.
If a business is unsuccessful with an application, they can absolutely reapply. This will provide flexibility to change an application if a business needs change, or if the application did not contain sufficient detail to justify an award decision. Remember, applications need to clearly identify what the grant will be spent on, the outcomes of this, and how this relates to COVID-19.
Grants will be awarded based on a weekly budget of $65,000. The number of grants issued per week may vary depending on the number of eligible applicants they receive, most grants are $1,000. In order to ensure they target funds to viable businesses, the City is requiring businesses to match their contribution. Successful applicants will be required to submit receipts and/or invoices within 90 days to show how the funding was spent.
Eligible costs include: goods or services purchased for the use identified in your application. The grant cannot be used for rent/lease/mortgage, payroll, membership fees, permit fees, debt reduction, retroactive costs, insurance, and other similar expenses.
The City remains committed to making this grant program agile and responsive to the needs of the local business community. If you have any questions or concerns about the grant please reach out to email@example.com