Dear Readers,
Serious consequences for Canadian businesses in the short and long term are arising as Canadians self-quarantine and limit outdoor movement.
The Federal Government has launched programs to help small businesses and their workers: the one week waiting period on Employment Income has been waived for workers, who are quarantined or required to self-isolate; all current agreements through the Work-Sharing program have been extended by 38 weeks, and the mandatory waiting period between agreements has been be waived; and a $10 Billion Business Credit Availability Program (BCAP), which will expand financing and credit insurance solutions for all Canadian businesses through three funding streams has been initiated. Small Business Loans up to $100,000 can be obtained online. Working Capital Loans have loans over $100,000 which can support everyday operations will be made available. Lastly, Purchase Order Financing has loans to fulfill domestic or international orders are being planned.
More programs may be announced or expanded as the situation evolves. All updates and links to these programs can be found on my website. This program was only just announced. If there are technical difficulties, try again later in the day. If you have any questions please, do not hesitate to call my office at 613-732-4404.
Sincerely,
Cheryl Gallant, M.P. Renfrew—Nipissing—Pembroke
