BDC COVID-19 Financing Support for Entrepreneurs
Small Business Loan
Get up to $100,000
- Quickly access the funds you need at an interest rate you can afford. You can postpone your capital payment for the first 6 months and repay your loan at your pace over 5 years. For more information, visit the BDC website.
COVID-19 Relief Program - Working Capital (BDC program)
The working capital program is a 36-month, backend-loaded loan with principal deferment for the first 12 months. The amount of financing provided is based on a detailed projection or forecast identifying the 'carrying cost' or 'burn rate' of the operation for the upcoming 12-24 months.
Contact Randy Myers at 519-350-4209 for more information.
Community Futures Chatham-Kent
Immediate Lending Option - loan of $5,000 available for new and existing clients (some limitations do apply)
Long-Term Lending Option - financial assistance ranging between $5,000 and $250,000 based on your need
Visit the Community Futures Chatham-Kent website for details.
A three (3) month deferral of payments is also being offered based on the client's payment cycle. Such payments will be added to the end of their current amortization schedule. This deferral will require written confirmation from the client along with confirmation in writing from all guarantors. For more information on deferral of payments, please call 226-996-1234.
Farm Credit Canada
The Government of Canada has made available $5 billion through Farm Credit Canada for the agriculture sector to help bridge business needs. The near term credit available to farmers and the agri-food sector has been increased through Farm Credit Canada.
Chatham-Kent Farm Credit Canada website for more information or call 519-380-8810.
Contact your bank
Canada's banks have made a commitment to support businesses and individuals through these difficult times in a responsible, fair and compassionate way. To help provide some stability for businesses through this time of uncertainty,
the Office of the Superintendent of Financial Institutions (OSFI) is lowering the Domestic Stability Buffer requirement, releasing more than $300 billion of additional lending capacity for Canadian financial institutions.
Ministry of Finance - Canada
Ministry of Finance - Ontario