Coronavirus Shutdown: Georgina launches $250K emergency fund for businesses

Grants ranging from $2,500 to $7,500 administered through South Lake Community Futures

Yorkregion.com
April 30, 2020
Amanda Persico

Local businesses will soon be able to apply for the new Emergency Response Benefit established by the town.

The $250,000 Emergency Response Benefit is to support local businesses that have seen a 30 per cent reduction in revenue.

The grant, ranging from $2,500 to a maximum of $7,500, will be administered through South Lake Community Futures, an arm's-length organization.

“As a result of the Ontario government’s mandatory closure of all non-essential businesses, many throughout our community are experiencing financial strain and hardship,” said Mayor Margaret Quirk.

According to the 2019 Employment Survey conducted by York Region, Georgina is home to more than 800 businesses. Of those local business, more than 85 per cent employ fewer than 10 people -- the importance of the small business community to Georgina’s economy can’t be underestimated.

“Town staff have been working to get targeted programs to support [the] local economy now and into the recovery period,” Quirk said.

The Georgina grant, along with other federal and provincial business funding programs, provide short-term financial assistance to the business community, with the hope of additional programs to support longer term recovery efforts.

Funding for the business grant program came from the town’s tax rate stabilization reserve and is modelled after similar financial assistance programs launched in the County of Wellington and Bradford West Gwillimbury.

Eligibility criteria for the Georgina Emergency Response Benefit include:

• Must be located in Georgina;

• Must be a registered business;

• Must demonstrate a 30 per cent loss of revenue;

• Is operational 12 months of the year; and

• Can demonstrate the ability to maintain operations six months prior to the COVID-19 pandemic.

Ineligible businesses include:

• Corporately owned franchises;

• Distributors;

• Not-for-profit or charity organizations; and

• Network marketing ventures.

The town is also considering modifications to several existing grant programs including the Development Application Rebate and Community Improvement Plan programs.

Applications are still being finalized and will be available online at southlakefutures.ca