The Government of Quebec announced Thursday financial assistance to help businesses affected by the repercussions of COVID-19 affecting their liquidity.
This is an emergency assistance measure, announced by the Minister of Economy and Innovation, Pierre Fitzgibbon, which will allocate in the form of a loan guarantee or a loan of a minimum amount of $ 50,000, which will be used to support the working capital of businesses in all sectors of activity to enable them to continue their activities.
The Minister indicated, however, that despite this form of support, not all businesses can be “saved” in the current economic context.
Pierre Fitzgibbon also encouraged Quebecers to buy locally, to encourage their regional businesses.
The Warden of the MRC Pontiac, Jane Toller, asked citizens to implement the recommendations of the Government of Quebec.
Note that Prime Minister François Legault’s daily press briefing is presented daily live on CHIP 101.9
The criterias on which the financial program is based include cooperatives, non-profit organizations and social economy enterprises carrying out commercial activities, which are affected by:
- a problem of supply of raw materials or products (goods or services)
an impossibility or a substantial reduction in the capacity to deliver products (goods or services) or goods.
The main terms and the procedure for obtaining assistance are presented on the Investissement Québec website. Eligible businesses wishing to obtain more information or take advantage of this funding can call 1 844 474-6367 or the telephone number of their regional office, available on the website.
In addition, a three-month moratorium has been established for the repayment (capital and interest) of loans already granted through local investment funds. Interest accrued during this period will be added to the loan balance. This measure is in addition to the moratorium already in place under most investment policies in force in MRCs, which can last up to twelve months.