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HomeNewsFederal government announces billions in support for small and medium businesses

Federal government announces billions in support for small and medium businesses

Prime Minister Justin Trudeau has announced a series of measures in order to support small and medium-sized businesses.

The payroll support has been raised from 10 to 75-percent to help employers cover salaries.

It is retroactive to March 15th.

In order to help companies that are facing a cash crunch, the federal government is launching the Canada Emergency Business Account which will allow companies to apply for loans up to 40-thousand dollars, interest-free for a year.

If needed up to 10-thousand dollars may be forgiven.

The government is also waiving GST & HST payments and import and export duties until June.

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