Times have been very difficult. COVID-19 has affected us in so many different ways. With only essential services up and running, thousands of businesses had to shut their doors in hopes to help flatten the curve.
Unfortunately, these closures have caused a huge dent on small businesses. Valérie Plante, mayor of Montréal, recently announced a financial initiative for small businesses. Small businesses that have been affected by the Covid virus will be granted a loan of up to $50,000. Montreal will be advancing a $40 million loan from Québec in order to complete the initiative.
Plante took to Twitter to talk more about it: “The [city of Montreal] has put in several measures to support Montreal businesses in difficulty. In addition to these measures, the Emergency Assistance Program for Small and Medium-Sized Businesses Affected by the Pandemic has been deployed and enhanced. #polmtl #polqc”
According to CTV News, “The loans are complementary to other funding from the provincial or federal governments to assist those businesses affected by the COVID-19 pandemic.” It’s relieving to see these small, local businesses receiving the help they need. These companies play such an important role in our economy. This kind of support help keeps their operations alive, saving thousands of jobs.
Application for the small business loans are available online.