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The Bow Valley Restart Fund (BVRF) provides grants for local Bow Valley businesses that are facing unforeseen costs due to the sudden nature of the COVID-19 pandemic.

Bow Valley businesses are needing to restart, this includes restocking inventory, meeting new government requirements, hiring new staff, training, protective equipment, store modifications, and cleaning costs, all while having their occupancy allowances restricted, and travel and tourism restricted. The Bow Valley business community is facing the challenge of understanding a new economical landscape, what once was a global destination, is now a local and regional destination.

The BVRF is raised from contributions of those who find it important to help local Bow Valley businesses. Such as local associations like the BVCC, local municipalities such as the Town of Canmore, industry partnerships, and other contributors.

The selection committee will have the sole discretion of awarding the grants. They will review the applications based on criteria put in place by the BVCC, need of grant monies, and the level of impact the financial assistance will have on the business community. The selection committee members will be the only people that have access to the applications.

The purpose of this program is to assist where possible, given the unique nature of the economic environment. We intend to help as many Bow Valley businesses as possible based on the contributions we receive to help those who need it the most by awarding grants of up to $5,000.00.

 

*Please note you do not need to be a member of the Bow Valley Chamber of Commerce to apply or qualify for the Bow Valley Restart Fund grant.

The Bow Valley Chamber of Commerce reserves the right to disqualify any applicant who in our opinion has the resources or the ability to access funds through Government programs or other opportunities.

Do not anticipate that the BVRF will give you full access to funding that will cover all costs, this may only provide a contribution to what the total restart costs may be.

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Applicant Eligibility and Criteria

Applicants to the Bow Valley Restart Fund (BVRF) must demonstrate that they are eligible to receive the funds under the Bow Valley Restart Fund and that their needs align with the purpose of the fund.

 

The purpose of the Bow Valley Restart Fund is:

  • To support local businesses with restart costs during the phases of reopening of throughout COVID-19;

 

Eligible Re-start Expenses incurred after May 13th are:

  • Inventory
  • Pre-opening deep clean
  • Re-opening inspections if required to re-open
  • Commercial space re-design to accommodate physical distancing
  • PPE, or COVID-19 related barriers, and distancing measures
  • Staffing to accommodate COVID-related requirements

 

Expenses that are NOT eligible:

  • Operational Costs
  • Travel, food or accommodations

 

Applications may not be considered eligible if:

  • The application is incomplete;
  • The application and related documentation are submitted after the posted deadline;
  • The business became operational after January 1, 2020.

 

Eligible applications will be reviewed and ranked by the BVRF Selection Committee in accordance with, but not limited to, the following criteria:

  • In addition to the Business Owner the business employs at least one person or sub contractor.
  • The business has been in operation as of January 1, 2020.
  • The business is physically located within one of the areas below:
    • Banff - Lake Louise
    • Canmore - Exshaw
    • Kananaskis
  • The business has a valid business license for the community they are physically located in.
  • The business has experienced a 50% or more reduction in revenue in comparison to the same time last year (March, April, May). With supporting documentation that has been provided in the application.
  • Budget of expenses to be covered from the BVRF grant. With supporting documentation that has been provided in application (e.g. receipts, invoices, quotes).
  • The business provides at least 50% of the personal income of the business owner(s).
  • The business was able to pivot and attempt alternative operational and promotional procedures during COVID-19.
  • The number of days the business was closed since March 16, 2020.
  • The business operations have been disproportionally adversely affected by public health closure requirements.

All interested applicants are asked to fill out the Bow Valley Restart Fund Application to confirm details about their business. Please be prepared to provided supporting documentation that determines costs needed to restart your business during COVID-19.

Important Dates: 

Applications open: Monday, July 27

Application deadline: Monday, August 10

Successful applicants will be notified: Monday August 31

THIS PROGRAM IS NOT INTENDED TO BE A FINANCIAL BAILOUT OF BUSINESSES

As of July 2020 Bow Valley Restart Fund Contributors Are:

2020 BVCC White Logo

$10,000.00

Available to Bow Valley Businesses

TOC

$100,000.00

Available to Canmore Businesses

*Please note you do not need to be a member of the Bow Valley Chamber of Commerce to apply or qualify for the Bow Valley Restart Fund grant.