REMINDER
- 40,000 interest-free loan, of which $10,000 will be forgiven (subsidized) if $30,000 is repaid by December 31, 2022. Subject to certain conditions.
- You can apply according to two types of eligibility:
- Have between $20,000 and $1.5 million in payroll in 2019 according to T4 summary;
- Have $40,000 in non-deferrable expenses (fixed costs) for 2020, from January to December.
NEW
- Application deadline extended to December 31, 2020.
- Eligible companies using a personal bank account can apply.
- The loan amount will increase to $60,000 (from $40,000), with a further $10,000 written off in the event of repayment before December 31, 2022. There may be additional criteria to qualify for the additional financing. Further details will be announced in the coming weeks.
If you have any questions about this update, please contact Gustave Legault-Brousseau, CPA, CMA, Senior Financial Analyst at Amyot Gélinas at 450 971-1550 ext. 3472.
