Ontario Small Businesses Struggling From COVID-19 Can Now Get Up To $40K In Support

Today, the Ontario government announced it would increase the amount of money given out by the Ontario Small Business Support Grant.

Small businesses who are eligible for the grant will now receive two equal payments of $20,000, totalling $40,000.

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"Confirmed eligible recipients of the Ontario Small Business Support Grant will automatically receive a second payment equal to the amount of their first payment, for minimum total support of $20,000 up to a maximum of $40,000," says a statement from the province released on Thursday.

"One of the most significant inequities of the pandemic has been the impact on small business owners [..]," said Minister Bethlenfalvy.

"That's why [..] we announced a second payment of the Ontario Small Business Support Grant — so that eligible small businesses will automatically receive a second payment in an amount equal to their first."

Through this program, the province is expecting to invest $3.4 billion to approximately 120,000 small businesses across Ontario.