No one can accurately predict liquidity needs in the current economic crisis. On the other hand, we have to work on it.
Here are a few tools:
Three (3) major measures are now in place for businesses:
- The Government of Canada’s BCAP program: click here
- The Quebec government’s PACTE program: click here
- 10% wage subsidy: see link here
In short, it’s all about :
- Deferral of loan repayments;
- Working capital loans;
- Wage subsidies.
Each program has its own particular characteristics, and we have mastered them. We have developed effective tools to meet your requirements.
A few more proofs:
The company must demonstrate that its liquidity problems are temporary and that its lack of liquidity is caused by:
- A problem with the supply of raw materials or products (goods or services);
- An impossibility or substantial reduction in the ability to deliver products (goods or services) or merchandise.
The situation is evolving rapidly, and there will be many liquidity support measures.
A few practical tips:
1- Meet with financial creditors to obtain line-of-credit easing and/or refinancing
2- Draw up a plan for your employees that takes into account the various forms of government assistance available.
3- Flexibility of FLI (Local Investment Fund) reimbursements
4- Other organizations such as CFDCs, BDCs and EDCs will also help their customers.
Don’t hesitate to contact your associate. He’s there for you!
