604.921.4042 info@eaglefinancial.ca
New Covid-19 Protocol

New Covid-19 Protocol

“ We are conducting a simple screening questionnaire to reduce the potential risk of exposure of COVID-19 to our team members and visitors. ”

Dear Clients,

As the COVID-19 restrictions begin to ease off, we are slowly opening our doors to serve you.

To reduce the impact of COVID-19 outbreak conditions on our businesses, among our employees and customers, it is essential to comply with the social distancing policies.

We are paying close attention to regulations and guidance issued by federal and local government agencies.
We encourage everyone to follow the best practices for minimizing the spread of COVID-19. Therefore, we implemented Basic Infection Prevention Measures to increase the physical distance among our team members and clients.

 

Prevention Measures

  • We are only accepting clients with appointments.
  • If you are sick or showing any illness symptoms, travelled recently or have been in contact with anyone who is ill, kindly cancel your appointment.
  • We promote frequent and thorough hand sanitizing for our team members and customers.
  • We maintain regular housekeeping practices, including routine cleaning and disinfecting of surfaces, equipment, and other elements of the work environment.
  • We provide our clients with tissues, face masks and trash receptacles.
  • Please keep your distance with our staff and other customers at least 2 meters apart at all times.
  • If you are visiting our office, our staff will ask you these questions upon your arrival;
  • Have you been required to self-isolate for any reason?
  • Have you travelled outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who has returned from travelling outside of British Columbia in the last 2 weeks?
  • Have you been in contact with anyone who is now in quarantine or self-quarantine?
  • Have you been in recent contact with anyone who is now feeling ill?
  • Are you feeling ill in any way?

We sincerely thank you for your continued support during these difficult times – and staying connected while we were apart.

Best Regards

Eagle Bay Financial Services Ltd.

COVID-19: Support Options For Economic Development Corporations & Indigenous Businesses

Shortly after the World Health Organization (WHO) declared the COVID-19 a global pandemic on March 11 2020, the Government of Canada shut down the economy to combat the spread of Coronavirus.

Like many other businesses, First Nations Development Corporations, Medium and Small-sized non-essential companies took a big hit; revenues and sales dropped significantly. Some organizations had to layoff employees, and others had to close their businesses permanently.

 

On March 18, 2020, to minimize the financial impact of COVID-19, the federal government announced its $82B COVID-19 Emergency Response Package for individuals and businesses struggling with the economic effects of the Coronavirus.

 

If your business has been facing financial difficulties due to the pandemic, we suggest you review the list below that summarizes different types of financial support that are available to your Indigenous business due to COVID-19. It is an excellent source of information that is compiled by the Aboriginal Financial Officers Association of BC(AFOABC).

 CEWS

(Canada Emergency Wage Subsidy)

Temporary 10% Wage Subsidy

CEBA 

(Emergency Benefit for Business Account)

CECRA

(Commercial Rent Assistance)

Support for Indigenous via AFIs

What is it?

Covers 75% of an employee’s wage 

(up to $847/week) 

3 month measure that allows eligible employers to reduce the amount of payroll deduction required to be remitted to CRA 

Interest free loans of up to $40,000 to cover operating costs during a period where their revenues have been temporarily reduced

($10,000 is forgivable if paid back by 2022)

Forgivable loans to qualifying commercial property owners to cover 50% of three monthly rent payments that are payable by tenants who are experiencing financial hardship 

Interest free loans of up to $40,000 with a $10,000 forgivable portion 

Who is eligible?

    • Individuals
    • Taxable corporations
    • NPOs
    • Agriculture organizations
    • Boards of Trade
    • Chambers of Commerce
    • Labour organizations
    • Registered charities
    • Partnerships with eligible employees
    • Indigenous government owned corporations


Must have suffered a loss of revenue of 15% in March and 30% in April and May.

  • Individuals
  • Partnerships
  • NPOs
  • Registered charities
  • Canadian-controlled private corporations 

Canadian operating businesses as of March 1, 2020 including Indigenous businesses 

(except government organizations or bodies or an entity owned by a government organization or body)

Businesses whose mortgaged property owner agrees to reduce tenants’ rent by at least 75% under a rent forgiveness agreement

Current and previous clients of Aboriginal Financial Institutions 

(please note that Indigenous businesses who apply for CEBA cannot receive this funding as well – it’s either one or the other) 

Eligibility requirements

Eligible employees* being paid eligible remuneration** 

Must continue to be paid during the claim period.

CRA business number

Pay salary, wage, bonuses or other remuneration 

Has a federal tax registration

Annual payroll between $20,000 and $1.5M

Paying less than $50,000 month in rent 

At least a 70% drop in pre-COVID revenue 

Indigenous businesses impacted by the Covid-19 crisis

How to apply?

Through your CRA ‘My Business’ account or use the Web Forms available online

Through a reduction in payroll remittances

Through banks & credit unions

Check with your landlord

Through an AFI in your region

*Eligible employees are individuals employed in Canada during the claim period except if there was a period of 14 or more consecutive days in that period where they did not receive any pay from you. Employee eligibility is based on whether the person is employed in Canada, not where they live.

**Eligible remuneration is salary, wages and other taxable benefits, fees and commissions. Severance pay and items such as stock option benefits or the personal use of a corporate vehicle are not part of eligible remuneration.

Information in this table has been gathered from https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses

Still have questions?

If you need more information, please visit Canada’s COVID-19 Economic Response Plan and read more detailed information about the financial support options that are available to your business.

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