COVID-19: New Programs to Access Capital

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Overall federal government strategy -

Individuals: Wage replacement for those laid off, wage supplement for those working in health care and other essential service workers, individual loans, tax deferral, work-sharing programs, supplemental unemployment insurance benefits, temporary support for quarantined or sick, extra child benefits, mortgage deferrals and rent relief.

Businesses: Reductions in notice or pay in lieu for short-term layoff periods, tax deferral, wage supplements, duty and customs tariff relief and extension of time for repayment credit insurance, accessing capital through grant and credit programs, commercial rent relief.

Specific business sectors or groups of individuals: Programs vary by sector, e.g., oil and gas, tourism, transport, retail, aviation, broadcasting, agriculture, northern business, tech and innovation sector and/or by composition of individual groups, e.g., Indigenous, seniors, students, homeless, women, caregivers, health care workers.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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