Support for Entrepreneurs Affected by the Coronavirus COVID-19

Effective March 18, 2020, new relief measures for qualified businesses include:

• Working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for                    qualifying businesses;

• Postponement of payments for up to 6 months, free of charge, for existing BDC clients with total BDC loan                          commitment of $1 million or less;

• Reduced rates on new eligible loans;

Support for Employers

Corporate income tax changes

Corporate income tax balances and installment payments will be deferred from March 19 until August 31, 2020
to increase employers’ access to cash so they can pay employees, address debts and continue operations.

Utility payment holiday

Residential, farm and small commercial customers can defer electricity and natural gas bill payments for
the next 90 days to ensure no one will be cut off, regardless of the service provider.

Credit unions

Business members should contact their credit union directly to work out a plan for their personal
situation

ATB Financial

•  Small business customers can:
o apply for a payment deferral on loans and lines of credit for up to 6 months
o access additional working capital

•  Other businesses and agriculture customers can access support on a one-on-one basis. Further solutions
are being considered at this time

For Full Details Please Download eBook:

Support for entrepreneurs affected by the coronavirus COVID-19

Payroll and Covid 19 – Q & A from the Payroll Infoline

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