Government Financial Relief for COVID-19

Government Financial Relief for COVID-19

411 information online shares Government Financial Relief for COVID-19 

As of todays date, this is the most current information that we have on the topic.

 

Government Financial Relief for COVID-19 

The government wants to keep people working and help businesses through this time.

The information is changing almost daily. This is current as of April 10, 2020.

 

Businesses

Already in place

$40,000 Bank Loan

·         To be eligible, a business must have 2019 payroll of between $50,000 and $1,000,000.

·         Loan of $40,000 interest free until December 31, 2022

·         No penalty for early payment

·         If paid back by December 31, 2022, $10,000 is forgivable

·         If not paid back by December 31, 2022, it can be extended for 3 years at 5% interest per annum

·         Apply through your bank where you have your business bank account

·         Watch for information about this because the government could relax/extend the rules to qualify

 Business Development Bank of Canada

·         Are partnering with commercial banks for other loan needs

·         Apply through your bank

 

You can read the full information article here https://catherinebarrie.com/2020/04/13/government-financial-relief-for-covid-19/

If you have not yet applied and are in need of these funds you can learn how to apply here https://www.canada.ca/en/services/benefits/ei/cerb-application.html

 

Over the weekend, Parliament was called in to work through and make changes to the CERB. 

411 information online has learned the House of Commons has approved a massive $73-billion wage subsidy program aimed at helping businesses and workers survive the economic ravages of the COVID-19 pandemic.

A bill to implement what Prime Minister Justin Trudeau called the most significant economic program since the Second World War was passed Saturday “on division” after some six hours of speeches and debate.

On division means there was some opposition among the handful of MPs in the chamber but there was no recorded vote. It was not immediately clear who objected.  Read the full report here https://www.edcns.ca/parliament-passes-73-billion-covid-19-wage-subsidy-bill/

 

 

We have the news conference with Andrew Scheer Please watch it here https://www.facebook.com/AndrewScheerMP/videos/791393031390259/

 

We posted some general information how to make sure you can try to stay as clean to hopefully avoid getting sick http://411informationonline.com/news/coronavirus-251-canadians-among-thousands-quarantined

 

As we continue to learn more about this pandemic we will bring it to you as fast as we can. 

411 information online is only sharing this information to help and inform the general public. We can not be held liable in anyway for any of this information. And you read it with this understanding that we are in no way able to validate any of this. We welcome, and recommend that you do your due diligence and investigate for yourself.