The program offers help to businesses who’ve lost 15 per cent of revenue from the COVID-19 pandemic by covering 75 per cent of wages on the first $58,700 an employee makes.
The first payments should begin to arrive on May 7.
Canada’s revenue website has seen a massive response.
“There have been over 300,000 views of the online calculator we launched last week to help businesses prepare a claim.” said Prime Minister Trudeau. “And since the portal opened at 6 am this morning (Monday), almost 10,000 businesses have already applied for it.”
The numbers give a sense of how much the program will help businesses and their employees.
“The program will give people certainty that they’ll have a job now and in the months to come, to support themselves and their family. It means employers will not just have the help they need to stay afloat in the tough time, but they’ll be ready to gear back up when things get better.”
Businesses can apply for funding through the Canada Revenue Agency.