TRUDEAU ANNOUNCES MORE HELP FOR BUSINESSES IMPACTED BY COVID-19

Apr 16, 2020

By Bob Komsic

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The federal government loan program for small and medium-sized businesses is being expanded.
The Canada Emergency Business Account was initially brought in to help companies with payrolls between $50,000 and $1-million.
Prime Minister Justin Trudeau says it will now be available to those with payrolls as low as $20,000 or as high as $1.5-million.
More than 195,000 loans worth over $7.5-billion have already been approved.
Trudeau also announced the government plans to introduce the Canada Emergency Commercial Rent Assistance.
”This program will provide support to help small businesses with their rent for the months April, May and June,” said the prime minister.
Trudeau hopes to have more details soon as this has to be worked out with provinces and territories because rent falls under their jurisdiction.
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