Federal Support for Fish Harvesters

Changes to Fishing Employment Insurance

The changes to Employment Insurance (EI) will allow self-employed fish harvesters and sharepersons to access EI benefits on the basis of insurable earnings from previous seasons (winter and summer claims).

More details will be available soon.

 

The Fish Harvester Benefit

The Fish Harvester Benefit is structured similarly to the previously announced federal wage subsidy. Eligible fish harvesters that see a drop of at least 25% of qualifying revenue, when compared to their qualifying revenue for the same period in 2019, will qualify for the wage subsidy.

The program will provide a maximum individual amount of $847 per week for up to 12 weeks — the same as the existing wage subsidy program.

More details regarding applications under the new criteria will be available soon. FFAW-Unifor will continue to post program announcements and updates as they are received.

 

The Fish Harvester Grant

This grant will provide more liquidity to address non-deferrable business costs. The program would provide non-repayable support of up to $10,000 to self-employed fish harvesters with a valid fishing licence. Size of the non-repayable support will vary depending on the level of fish harvesters’ historic revenue.

More details will be available soon.

  

Canadian Emergency Business Account

https://ceba-cuec.ca/

The Canadian Emergency Business Account (CEBA) program will now include businesses that have a payroll lower than 20k. Until now a number of fishing fleets were not able to access this program because of the previous payroll requirement. This $25 billion program provides interest-free loans of up to $40,000 to small businesses and not-for-profit companies, to help cover their operating costs during a period where their revenues have been temporarily reduced, due to the economic impacts of the COVID-19 virus.

More details, including the launch date for applications under the new criteria, will follow in the days to come.

You should contact your financial institution to apply for these loans.

FFAW-Unifor will continue to post program announcements and updates as they are received.

 

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