COVID-19
The MRC launches its assistance program for SMEs
SMEs could received up to $50 000
Article published on 20 April 2020
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Pontiac SMEs affected by the COVID-19 pandemic can submit their application to the Emergency Aid Program for small and medium-sized businesses.

The purpose of this funding program is to support, for a limited time, eligible businesses that are experiencing financial difficulties as a result of COVID-19 and who require cash in the amount of less than $ 50,000. The assistance will take the form of a loan or loan guarantee.

The Warden of the MRC Pontiac, Jane Toller, informed CHIP 101,9 that the amount that will have to be managed and divided between the companies totals more than $500,000. She hopes that the aid will be granted quickly.

“We are pleased to receive this funding and to be able to make it available to our businesses now,” said Toller. “It is very important to support our Pontiac businesses during this difficult time and we invite those who need help to contact us,” she added. According to the MRC Pontiac, the current situation surrounding the COVID-19 pandemic has a direct impact on businesses and the economy of the region.

The investment committee of the MRC Pontiac has been appointed to analyze and approve loans from the emergency assistance fund for SMEs, in collaboration with the SADC Pontiac. The investment committee will then present a list of approved loans to the Council of Mayors for adoption.

Eligible customers
The following companies are eligible for the program:
- * companies from all sectors of activity;
- * social economy enterprises, including cooperatives and non-profit organizations carrying out commercial activities;
- * companies that have not received assistance from the PACTE program (Investissement Québec)

To be eligible, the company must:
- * have been in business in Quebec for at least one year;
- * be temporarily closed, likely to close or show warning signs of closure;
- * be in a context of maintaining, consolidating or reviving its activities;
- * have demonstrated a cause and effect link between their financial or operational problems and the COVID-19 pandemic.

Excluded are applicants who are under the protection of the Companies’ Creditors Arrangement Act (RSC, 1985, chapter 36) or the Bankruptcy and Insolvency Act (RSC, 1985, chapter B-3) .

Small and medium-sized businesses can access the funding request on the MRC Pontiac website at the following address: http://www.mrcpontiac.qc.ca/covid-19-aide-durgence-aux-petites -and-medium-sized enterprises /

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